Africa-Press – Eritrea. A greater majority of students currently crafting career paths should be “very worried”, experts now say, as an estimated 14 million jobs are set to be shed from the market.
The World Economic Forum has cautioned that the global economy will shed at least 14 million jobs over the next five years, as economies weaken and companies boost the adoption of AI technologies.
This, according to experts, has left students across various educational institutions with good reasons to be anxious as some career paths will be rendered non-viable.
This is bad news to some 500,000 to 800,000 young people who tip into the market looking for jobs or livelihood opportunities each year. Project Management Institute, youth lead in the Sub-Saharan Africa, Joanna Baidu says there is great unease at the thought of AI replacing jobs.
“According to the Institute of the Future, 85 percent of the jobs that will exist in 2030 haven’t been invented yet! While it is easy to speculate about the types of jobs automation will make obsolete, it is with no certainty that we can make any assumptions,” said Baidu.
Sectors such as manufacturing, banking, telemarketers, and travel industry are already experiencing a major disruption with the increased use of tech-driven operations and AI.
Concerns around the use of Artificial Intelligence, from its potential misuse and ethical implications to the balance of innovation vs. disruption, have been swirling since ChatGPT went mainstream.
However, to counter the AI take over, PMI’s Talent Gap predicts an increase in the number of jobs requiring project management-oriented skills from higher demand due to economic growth and retirement rates.
These trends will create a global need for 25 million new project professionals by 2030. If the roles are not filled, it could result in a possible loss of up to $345.5 billion (Sh48.1 trillion) in global GDP.
Baidu notes that regardless of which way the pendulum swings and which jobs AI swallows, it is prudent that the youth commit to lifelong learning and up-skilling. Going forward joining a professional association has been recommended for students and early career professionals.
The experts’ recon that staying informed about trends, access to learning resources, and being intentional about professional development will give the youth the head start to prepare for the future of work.
“There is no denying that AI will profoundly impact the future of work. Tech innovations of the past decade have already made bank tellers, cashiers, telemarketers, and travel agents relics of the past,” added Baidu.
A recent report by consulting firm Deloitte also warns that advances in AI, cognitive computing and automation mean future employees will require extra skills than their predecessors to remain competitive in the labour market.
According to the report, close to half of the jobs in the US for example face potential automation by 2030. “Now, possibly more than ever, there appears to be an impetus for employees to bring their “soft” skills – such as creativity, leadership, and critical thinking -to work,” explains Deloitte in the report.
For More News And Analysis About Eritrea Follow Africa-Press
