- AI has evolved into a tool that can now handle more complex workloads
- It will undoubtedly shift the labor market, but will lead to net job creation
- Experts are calling for more detailed policies to protect displaced workers
While early concerns that AI could replace human workers have largely been allayed, every now and then we hear of another study that says otherwise, and the OECD Job Creation and Local Economic Development 2024 report report certainly gives that impression.
The report examines how cognitive non-routine tasks, such as those performed by highly skilled professionals, are increasingly falling within the scope of AI.
So far, low-skilled, repetitive and administrative tasks have been most affected by the technology, which has the power to process large amounts of data very quickly to perform routine tasks.
AI is coming after your boss’s job
Unlike previous automation trends that mainly affected the manufacturing and automotive sectors, generative AI now promises to change roles in education, finance and IT.
The research shows that GenAI already affects about a quarter of jobs, but the OECD doesn’t seem overly concerned that AI will actually replace human workers. Instead, the study compares the emerging technology to automation, which has actually led to a net creation of jobs, despite some being lost forever.
The OECD report also suggests that AI can be used to address the ongoing skills shortage by increasing accessibility for those who may previously have been unable to take on certain roles.
Looking ahead, the OECD says the “uneven recovery” from the pandemic cannot be repeated as AI advances. It calls for more effective collaboration between the public and private sectors to create policies that uphold workers’ rights and invest in upskilling and reskilling initiatives.
The study specifically calls for policies that identify opportunities where AI can drive regional growth, increase awareness of the benefits of AI for employees and employers, improve adoption of AI tools in small businesses, establish frameworks to address AI risks and provide tailor-made support to displaced workers.