In a 2023 research report, the recruiting firm Zippia estimated approximately 24% of Americans are working in jobs with a high potential to be completely automation with another 36% percent having medium potential for full replacement but likely requiring additional training to use AI software to remain in these positions. While the numbers show there will not be the complete takeover of jobs by robotic automation or advanced software, 24% will be at risk for total replacement and will need to find other employment and there will be a shrinkage in the number of jobs in the 34% as AI programs make them more productive. So where will this next phase of complete and partial automation occur?

Manufacturing is already highly automated and currently employs 82% of all industrial robots. Rather than replacing people in repetitive task jobs on assembly lines, the next wave of job replacement will be from mechanical robots in a wider range of blue-collar jobs in food services, warehousing and construction and software bots in white-collar jobs where advanced computer software is already taking over mundane tasks like coding, data entry, customer service, legal and medical research, and accounting. AI bots doing this work will let the person concentrate on the part of their job that requires problem solving and judgement and will give them a greater level of work satisfaction as they must solve problems rather than spend time on mundane tasks.

The adoption of AI will also create new job opportunities that over time are expected to offset job losses. One of the series of new jobs will be supporting AI systems. There will be a need to teach employees how to use these AI assistants that will require employers to develop training systems to upgrade employee skills and will create jobs for people to monitor and advance the usefulness of the technology. There will also be the opportunity for every size company to use AI to create new services and businesses to support AI and ML just like the automobile created the need for oil and gas drilling, petroleum refining and automobile dealers to sell and service the cars. 

But the most impact on future employment from generative AI will be the new businesses we cannot now imagine. As you will see throughout the 4th Revolution’s website, using natural language rather than coding formulas as AI’s primary interface along with Cloud computing that doesn’t require a large investment in hardware has democratized access to both technologies.  Democratization of access will allow companies of all sizes to use AI to improve the efficiency of their business and give entrepreneurs, who traditionally drive business innovation, greater opportunities to create new products and services.

Smaller Companies Adopting AI

 A February 24 article in the Harvard Business Review by Oguz A. Acar and Andrés Gvirtz talks about how AI can help small businesses level the playing field with big business. Here is their summary of their study:

“Generative AI has the potential to close content, insight, and technology gaps that large corporations typically have over their smaller counterparts. This shift presents a unique opportunity for SMEs (Small and Medium Sized Businesses), whose inherent agility gives them an edge in adopting and innovating with AI. This article shares some early examples of how new approaches to text and image generation, AI-generated video, customer insights, and more can help boost the competitiveness of SMEs willing to invest in generative AI tools. It’s not far-fetched to foresee a future marketplace where the depth of corporate resources is not the unequivocal determinant of success.”

One example, a key aspect of successful marketing is producing high-quality, consistent, and engaging content that can be too expensive for SMEs.  But now, even a neighborhood boutique can leverage generative AI to create vivid product descriptions and imagery, as well as ads, copywriting and graphic design all while keeping costs low. The 4th Revolution’s website was built on a Wix platform that uses AI tools at a cost of $400 compared to the $12,000 it cost eight years ago to create an interactive website that required hiring a programmer and people to create logos, webpage graphics, embedding videos into the webpages, chat boards, and comment sections to articles posted on the site. The federal and state filing to register the company were done by an online firm at 10% of the cost of hiring an individual attorney. We also used an AI language bot to narrate our first video rather than having to hire a voice actor like we did for a video on an earlier site.

Another example, large corporations have the means and resources to conduct thorough research, gaining granular insights into markets and consumer behavior. Smaller companies, in contrast, previously often lacked the luxury of advanced consumer surveys and specialized analytics. Today, AI can sift through vast data sources and generate market and customer insights without a large staff. Whether it’s analyzing online sentiment, assessing competitor positioning, or understanding visual preferences, AI can amplify analytical capabilities of SMEs. An SME trying to understand customer purchasing patterns can use tools like Open AI’s Code Interpreter to conduct advanced analyses. By entering simple prompts like “Show me monthly sales trends by product” or “identify the key drivers of consumer sentiments,” SMEs can navigate through different methodological options and get a custom code for data visualization and analysis, even if they lack proficiency in data analytics languages like Python or R.

Other examples where AI can help any size business:

 Fraud prevention - Analyzing big data to detect suspicious patterns in transactions and prevent cybercrimes.

AI-powered chatbot for finance business providing 24/7 online answers to guide customers through different financial products and consulting them on how to save money.

AI-powered process automation streamlines routine back-office tasks such as transactions, loan application processes, security checks, etc.

Biometric security systems with biometric authentication and QR code recognition are more secure and convenient for customers to use.

 AI-driven chatbot for real estate answering customer questions and matching them with properties, scheduling viewings, sending follow-ups,

Matchmaking of properties and potential buyers so human agents can find better offers for their clients and save a lot of time on manual searches.

Efficiency solutions for buildings including energy usage optimization, and waste management

AI in HealthCare:

• Improving diagnostics and treatment.

• Matching diagnosis and medication.

• Conducting robotic surgeries.

• Keeping healthcare data safe.

• Consulting patients remotely.

• Organizing and monitoring information. 

• Patient monitoring software can analyze blood tests, genomics, radiology and EKG images, screenings, medical history, and other unstructured data, allowing doctors to make faster and more accurate diagnoses.

AI in Marketing, Social Media and Entertainment

• AI and neural networks for social networking app development and building all types of social media suggestion features.

• AI-based music creation platforms.

• Music recommendation app that analyzes user preferences.

• Apps for video and photo editing online.

• AI-driven search tool for images, audio, or video content.

• Autocorrect tool based on text and context recognition.

AI and Machine Learning Tools for e-learning can analyze learners’ progress, difficulties, and goals

How Larger Companies Will Restructure and Retrain their IT Staff

AI and ML will require company managers to think differently to be able to maximize the benefits of AI and ML technologies for their companies with as much attention spent on training people as on technology:

·      Mangers will need to find right balance between jobs that that require high cognitive thinking and strategic decision-making that must be done by people, and those that can be done by machines and the cost of automation for different applications.

·      They will also want to identify upskilling opportunities for team members to work with AI so they are more productive and provide their employees training pathways that will keep them up to date on new AI applications to maintain the greater efficiency created by AI, so their companies remain competitive.

Companies will need to add support staff to run these ongoing training programs, maintain their AI and ML systems, and create new applications to make their companies even more competitive. 

Research by MIT’s Sloan Kettering and Accenture have identified three new categories of AI-driven business and technology jobs coming from this new business focus they label trainers, explainers, and sustainer:

“Therefore, the greatest impact of this technology is likely not to be job destruction but rather the potential changes to the quality of jobs, notably work intensity and autonomy.”

While it is not possible to predict all the new jobs that will be created by AI, we can conclude that as AI becomes a part of more people’s jobs, employees will have an even greater need to develop a continuous learning mindset if they are going to maintain their jobs and advance their careers. Providing these educational opportunities will require a significant investment by employers in training programs and the expansion of shorter-term training courses and certifications by technical schools and community colleges where employees can upgrade their skills in schools in their area.