What impact will AI have on the future of work?

Artificial intelligence (AI) will influence the future working landscape in many different ways.

Automation

AI and Robot Process Automation (RPA) offer almost limitless possibilities for automating cognitive processes, which can lead to a significant increase in productivity, efficiency and customer satisfaction¹. AI can analyse large amounts of data quickly and automatically to provide experts and specialists with data-based support when making difficult decisions².

Job losses

There are fears that AI could replace jobs. A survey by the Boston Consulting Group (BCG) revealed that 40% of respondents in Germany believe that their jobs will no longer exist in the future because of AI³. A study by investment bank Goldman Sachs states that AI could make 300 million full-time jobs redundant worldwide⁴.

New professions

New professions are also emerging with the development of AI. Examples include Data Analyst / Data Scientist, Digital Learning Manager, Online Marketing Manager: SEO, Robotics 4.0 and AI Manager⁵. There are also many opportunities for computer scientists who want to specialise in AI, such as Machine Learning Engineer, Deep Learning Engineer, Senior Data Scientist, Algorithm Developer and Junior Data Scientist⁶

Retraining

The implementation of AI requires the recruitment of new talent and the training of existing employees⁷. Companies should analyse jobs and adopt a competency-based view of work in order to deploy employees in new roles or train them to take on other positions and tasks⁸.

To summarise, it can be said that AI will significantly change the employment landscape, but will not necessarily lead to mass unemployment1. There will be new professions and existing professions will change. It is important that employers and employees recognise these changes and prepare for them in order to be able to exploit the full potential of AI.

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