Wonderful Engineering

AI Has Created 3 Times New Jobs Than What It Took Away, Suggests New Study

A McKinsey report predicted that 30% of all of the workers would be displaced thanks to technology, and another 14% might be forced to change jobs has always rendered AI as a threat. According to a survey conducted by ZipRecruiter that interviewed 11,000 workers, 58% of the job seekers believe that AI will end destroying more jobs as opposed to creating jobs. That is why ZipRecruiter decided to dig deeper to figure if these fears are real or not.

Data scientists at ZipRecruiter carried out an analysis of more than 50 million job postings, surveyed hundreds of employers, and thousands of job seekers, and examined specific use cases in five transitioning industries. It was found that AI has actually created three times the jobs that it took away in 2018.

The survey also concluded that 81% of the interviewed employers that use AI tools would prefer to hire a human over placing a completely autonomous system in place. Another fear that prevails in the common masses is that AI is taking out middle-class jobs. ZipRecruiter was able to upend this fear as well. The report has shown that while certain technical jobs are increasing, the middle-wage job growth has actually outpaced the low-wage opportunities between 2016 and 2018. Furthermore, the job that requires a high school diploma is growing faster as opposed to jobs that need a bachelor’s degree from 2017 to 2018. The report’s authors wrote, ‘Taken together; these trends suggest that AI’s disruption to the job market is not (yet) leading to further income polarization.’

Industries such as healthcare and manufacturing have been considered ideal for replacing humans with robots. We are already witnessing this phenomenon in automotive assembly and surgeries. Despite all of that, the data by ZipRecruiter shows that there is an increase in the manufacturing jobs and the diversity of the roles show that the industry is creating quality jobs across the spectrum of skills. Agriculture also has the potential to create jobs because of AI. A new job category of ‘precision farming’ relies on AI (drones, GPS, and smart machinery) for the collection of data on soil composition, and fertilizer needs that can help in maximizing yield.

The report’s authors said, ‘Although the emerging stage of AI and augmented intelligence has not yet caused widespread disruption of the labor market, guardrails are needed to support the future workforce and foster job market dynamism.’