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New Report Highlights Vulnerability of Highly Skilled Professions to AI Disruption

TL;DR

  • Highly skilled professions vulnerable to AI disruption.
  • GenAI boosts productivity but may cause layoffs.
  • HR invests in upskilling for workforce adaptation.

A recent report published by the Society for Human Resource Management (SHRM), in collaboration with the Burning Glass Institute (BGI), has shed light on the potential impact of generative artificial intelligence (GenAI) on various professions. 

The report identifies five highly skilled occupations – certified public accountants, mortgage brokers, legal professionals, tax specialists, and marketing researchers – as particularly vulnerable to disruption by AI technologies.

The shift in skill demands amidst AI integration

According to the report, employees in these roles will need to acquire new skill sets to adapt to the evolving workplace landscape. Traditional job responsibilities, such as customer service roles, are predicted to shift towards managing chatbots and overseeing automated processes. Similarly, data analysts may transition into AI data specialists as GenAI becomes more prevalent.

Anticipated transformations in the workplace

The report underscores the central role that GenAI is expected to play in reshaping job responsibilities and boosting productivity in the coming decade. While early adopters of GenAI are projected to experience heightened productivity through automation and augmentation of roles, the transition may lead to short-term layoffs and hiring slowdowns as employers adjust to the new paradigm.

Despite potential job losses in certain sectors, the report suggests that increased profits resulting from decreased payroll costs will lead to the creation of new jobs and price cuts for goods and services. It emphasizes the importance of reskilling and upskilling initiatives to ensure that employees possess the necessary skills to navigate this transitional period effectively.

Recommendations for HR officers

Chief Human Resources Officers (CHROs) are advised to assess their organizations’ compositions and anticipate disruptions as GenAI adoption accelerates. HR departments should consider how AI technologies might automate, augment, or transform various roles and assist in preparing workers for these changes.

To capitalize on GenAI’s productivity advantages and prepare for workforce disruptions, organizations are encouraged to invest in upskilling and reskilling initiatives. This approach ensures that workers remain relevant and can be reallocated to areas with more consistent demand, mitigating the potential negative impact of job displacement.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Emman Omwanda

Emmanuel Omwanda is a blockchain reporter who dives deep into industry news, on-chain analysis, non-fungible tokens (NFTs), Artificial Intelligence (AI), and more. His expertise lies in cryptocurrency markets, spanning both fundamental and technical analysis.

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