Artificial Intelligence and the Generation Most Affected in the Labor Market

While experts expect artificial intelligence to change the features of labor markets around the world, which generation will be most affected?

A study warned of strong generational differences in the degree of exposure to disruptions caused by artificial intelligence.

As the capabilities and potential of artificial intelligence increase, many believe that this will soon lead to a complete change in the features of traditional labor markets.

Experts expect that artificial intelligence will replace many full-time jobs, according to the American Forbes magazine website.

Major financial institutions, such as Citigroup, JPMorgan and Goldman Sachs, have announced plans to cut about 200,000 jobs over the next three to five years, according to Bloomberg.

A report issued by the World Economic Forum also predicted that artificial intelligence will cause about 41 percent of workplaces around the world to reduce the workforce by 2030.

But a new study into how artificial intelligence is reshaping roles and the concerns it raises for the future of work has warned that the generation most at risk of job loss is the so-called Millennials.

Chadix, an AI-powered search engine optimization platform, conducted the study with more than 2,000 entrepreneurs and professionals to analyze which types of jobs are most at risk.

The study revealed "strong generational differences" in exposure to AI-induced disruption, with millennials appearing to be the most at risk.

Business leaders believe that millennials, aged 28 to 43, face the highest risk of job displacement due to AI at 38 percent compared to younger generations.

This is because members of that generation hold mid-level positions in industries that are currently investing heavily in AI, such as marketing, finance, and administrative jobs.

Many tasks in their fields, such as data analysis and project management, are increasingly automated, making this group particularly vulnerable.

Generation Z, aged 12 to 27, is at the same risk at 25 percent, as their technological skills may help them adapt to the new situation.

Interestingly, Generation X, aged 44 to 59, is the third most at risk, at 20 percent, with many in leadership positions and some struggling to adapt to rapidly evolving technologies and reskilling their limited skills to suit the changing situation.

Entrepreneurs participating in the study believe that the impact of artificial intelligence will be distributed equally among all generations, as the nature of jobs and roles, not age groups, will lead to the weakness of some, according to the Forbes magazine website.

Source: German