How GenAI Will Impact Jobs

Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require.

Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.

As solutions based on Generative AI (GenAI) are used in mainstream business, professionals are divided: Some are excited about the technology and others are anxious.

For many, GenAI is making their work and research easier but others fear it will make them irrelevant.

A new report called GenAI and the Workforce by US-based global non-profit Society for Human Resource Management and think-tank The Burning Glass Institute outlines the challenges and opportunities for white-collar professionals.

'GenAI will cause broad transformations across nearly all categories of white-collar roles, while blue-collar work will remain shielded from major disruption,' the report says.

'Workforce reductions could become widespread over the coming decade.'

Organisations adopting GenAI will improve productivity, but the practice will also lead to roles vanishing. Most roles are being automated, augmented or transformed.

Automation is happening to roles that either do not require expertise or heavily involve tasks that GenAI can do effectively.

One example of such a role is graphic designers revising and contextualising content, rather than creating it from scratch.

Augmentation is happening in roles that require substantial expertise but still involve several AI-enhanced tasks or AI-driven productivity gains. Example: Software engineers using ChatGPT, a chatbot, to generate and debug code.

Transformation is happening in roles whose new unit economics allow for a complete reimagination of the job. Example: Human resource professionals transitioning to become coaches and strategists.

There will be a churn in the job profiles and white-collar teams of organisations. Many roles will disappear or evolve, creating challenges for professionals and employers.

During this transition, entry-level jobs opportunities are likely to reduce and organisations would retrain existing teams rather than hire fresh talent.

The emotional toll of job insecurity in this period will heighten the need for robust employee support systems, including mental health benefits and transition programmes, says the report.

It analysed various industries and found occupations that will be most exposed to the impact of GenAI include mortgage and loan brokers, law offices, investment and commercial banking, human resource consulting, and market research, content and public opinion.

Roles in Internet publishing, broadcasting and Web search portals, general management consulting, travel agency services, computer systems design and educational support will be impacted too.

"Embracing the GenAI era requires white-collar professionals to blend expertise with adaptability. I advocate for continuous learning, strategic upskilling, and a keen eye on the ethical implications of AI integration," says Achal Khanna, CEO, SHRM India, APAC and MENA regions.

"SHRM is driving an AI+HI (artificial intelligence and human intelligence) approach for enterprises to manage the disruption. Industry has to leverage AI's potential while prioritising human-centric values. This is as relevant in Silicon Valley and as in other economies," says Khanna.

SHRM's report says skills in AI literacy, data, emotional intelligence and critical thinking will be in demand as GenAI transforms work, there will be a consequent impact on salaries.

Jobs specialising in the creation and management of AI tools may witness rising salaries due to the niche expertise they require.

Skills in AI research, development and the practical application of AI tools in business settings will also see strong demand.

Conversely, roles that GenAI can do will grapple with decreasing demand and salaries.

White-collar professionals will have to evaluate their skills and career paths to remain relevant in rapidly changing circumstances.

Employers and skilling institutions will have to work with talent leaders to manage an industrywide transition driven by GenAI.

Feature Presentation: Ashish Narsale/Rediff.com