The increased digital innovations, automation and integration of Artificial Intelligence in each area have made a considerable impact in the field of jobs. However, layoffs due to AI are inevitable. We have already seen after Dropbox’s decision to lay off 500 employees with the inclusion of AI in their works, IBM is planning to replace 7,800 jobs with AI technology, and they stopped hiring for job roles that can be automated. But amidst these job losses, we should think about the vast opportunities AI creates.

According to the Jobs Report 2023 of the World Economic Forum, AI and machine learning specialists, data analysts and scientists, and digital transformation specialists are the most prominent emerging job roles. As per the report, it predicts a 40% of jump in the number of AI and machine learning specialists by 2027, a 30-35% increase in demand for roles like data analysts and scientists or big data specialists and a 31% surge in demand for information security analysts which will add a combined 2.6 million jobs.

Given below are the top 10 jobs growing fastest and declining fastest in the next five years, according to World Economic Forum.

Image: World Economic Forum

AI and machine learning specialists- These are the professionals who design, develop and implement AI and ML systems. Using different tools, they analyse data, build models and optimise algorithms. As per the report, demand for AI and machine learning specialists will increase by 40% or one million jobs due to its continuous increase in industry transformation.

Sustainability specialists 

These are the professionals who have extensive expertise in the field of climate change mitigation and renewable energy. This area falls under the business leader’s expectations for a green transition and climate change mitigation investment to drive job growth. Renewable energy engineers, solar energy installation engineers etc., are some of the demanded jobs in this area.

Business intelligence analysts

the report predicted that there would be a surge of 30-35% in demand for job roles like business intelligence analysts, data analysts and scientists, data engineers, big data specialists, and database and network professionals. The significant advances and growth in the adoption of frontier technologies that extensively relies on big data are the key drivers for such a shift. This surge is common across the country but considerably high in China, with 45%. The top industries which expect high growth in these roles include the financial service sector with 31%, retail and wholesale of customer goods with 37%, and supply chain and transportation with 42%.

Information security analysts

These professionals ultimately protect their company from any kind of cyber threats that can possibly harm their firm by making sure that their sensitive data does not end up in the wrong hands. Employing teams who can design and implement robust measures while keeping track of every latest development in the area of cybersecurity.

Fintech engineers

The financial sector worldwide is undergoing rapid change with the development of new technologies and is going through a ground-breaking digital transformation. The jobs of fintech engineers can be considered risky as they have to test and implement new products while following the rules and regulations to secure customers’ sensitive data.

Data analysts and scientists

They are the experts who collect, process and interpret humungous and complex datasets to generate insights and solutions for different problems and domains. Using statistical methods, programming languages and visualisation tools, they manipulate and communicate data. There is expected to be a 32% of growth in demand for these job roles this year. Conglomerates made dramatic moves regarding data and analytics during the pandemic and are keep investing in it due to its drive value.

Robotic engineers

These experts will design, build and program autonomous machines that perform a wide range of tasks. With the incorporation of computer vision and natural language processing, they can be intelligent machines that can work with humans easing human efforts. The growing demand for robotics engineers is driven by automation, mainly in aerospace, manufacturing and medicine.

Electrotechnology engineers

They are experts who design and direct the operation of electronic, electrical and telecommunication systems. They are also responsible for maintaining and repairing them when needed. They observe its performance and safety standards as well. Electrotechnology engineers have immense possibilities to work in industries like mining, manufacturing and IT.

Agricultural equipment operators

The increase in global population makes it evident that there is an increase in demand for food production. Hence, we need to enhance agricultural productivity. With the increased development of new farm equipment to increase efficiency and reduce labour costs, the demand for workers who operate such complex machinery also increases.

Digital transformation specialists

Digital transformation is the current buzzword in the business sector. Companies are evolving at a faster pace by changing the practices that have been the heart and soul of their companies for decades. Employing special teams to oversee such processes can ease the transition and is already becoming common across industries.

The Forum’s managing director, Saadia Zahidi, said in the Radio Davos podcast, “It’s not surprising because we have seen what is happening with generative AI and how fast that’s getting adopted across various industries.”

Artificial Intelligence is predicted to be adopted by almost 75% of surveyed companies and to lead the high churn-with 50% of organisations believing it will result in job growth and 25% thinking it will create job losses, says the Future of Jobs Report.

 gettyimages.com