Tuesday, June 25, 2024

The Job Apocalypse is Coming: AI Will Replace 70% of IT and Other Jobs by 2026

Our interview today is with Mr. Harris Hussain Siddiqui, A Tech entrepreneur with vast experience in online business and an eagle eye on the latest technologies, so let’s hear his thought and opinion about AI and threats to the job market from AI evolution. 

What do you think about AI?
Let’s start with the definition first to create an understanding. AI (Artificial Intelligence) refers to the simulation of human intelligence in machines that are designed to think and act like humans. All is Intelligence based on machine learning from the previous data of different acts and the outcome of those acts. All of that is existing information converted into data and used to enable machines to mimic human behavior, speech, and the way we interact with each other.

Since we are enabling AI to be more like us, there must be some Pros as well as Cons of it, any thoughts on that?

Yes, there definitely are, so pros include things like:

  • Increased efficiency and speed in various tasks, especially repetitive ones or those requiring high amounts of data processing. Machines are obviously better at it than humans.
  • Improved accuracy in decision-making, as AI algorithms can identify patterns and insights that humans are more likely to miss.
  • Potential to improve and automate various industries, from healthcare to finance to transportation, and even businesses as well.

And well, the Cons of AI are very Alarming, even a big Threat to Humans. Elon Musk has famously said, “AI is far more dangerous than nukes.” And I agree that his statement has some truth to it. And recently as per analysts at JPMorgan ChatGPT, other AI models to disrupt Big IT firms around the world

  • Number one, Job displacement, as AI algorithms may replace human workers at a mass level
  • Number two, Bias and discrimination, as AI algorithms may perpetuate existing societal biases if trained on biased data.
  • Then we have a lack of accountability, as it is difficult to determine who is responsible for errors made by AI systems.
  • Umm… Security and privacy concerns, as AI algorithms can access and process large amounts of sensitive personal data.
  • Lack of empathy, another important red alert, as AI systems are not capable of understanding emotions, which can be a disadvantage in applications such as mental health care, where empathy and emotional intelligence are fundamental aspects of treatment.
  • Then there is Ethics and morality, As AI systems become more advanced, ethical and moral considerations may arise, such as the use of AI in military applications, the potential for AI to be used for harm, and issues related to autonomous decision-making.
  • Finally and most importantly, lack of creativity, as AI systems lack the creativity and imagination that humans possess, which can limit their ability to generate novel solutions to problems.

Is ChatGPT a True Example of AI, and will it take over the AI Industry:

Ah yes, ChatGTP… You can say yes, but not entirely,  but ChatGPT is a true example of Generative AI, a highly enhanced and advanced AI that is still shocking the world, but this is just the beginning. The race has only begun. You will see AI evolving to another scary level in the next few years. Imagine Google coming up with an AI Project of its own; do you think that anyone has more data than Google? AI is all about data! Then the Meta with Facebook, Instagram and WhatsApp… they know more about any of u than even our own parents, children or spouses. Forget ChatGTP; imagine Google’s jump to AI. Now that’s a scary thought.

What is the major difference between AI and Generative AI

AI (Artificial Intelligence) refers to the simulation of human intelligence in machines, while Generative AI is a specific type of AI that is focused on generating new data or content rather than simply processing and analyzing existing data. It generates content based on existing patterns and relationships.

How will this evolution of AI affect the demand for certain jobs, Specially for the IT industry?

As per my analysis and insights, I can see a major job crisis ahead and only within the next 2 to 3 years will AI eliminate 70% of jobs. Humans will be replaced by AI utilities and Robots. Let me be specific about jobs and industries that will be majorly impacted.

Data entry and processing: 90 % of Data entry positions will be eliminated by 2025. Automated data processing and analysis using AI algorithms will reduce the need for human data entry workers.

Customer Service: 90 % of Customer Service positions will be eliminated by 2025. AI-powered chatbots and virtual assistants will replace human customer service representatives in many industries.

Software development: 60% of Software engineering or coding-related jobs will be eliminated by 2025. AI-powered code generators and automated testing tools may reduce the need for certain types of software developers. Additionally, OpenAI is in the works, making a ChatGPT-like tool called Codex that can write software codes within seconds.

Content Writing: 90 % of Writer positions will be eliminated by 2025. AI-powered writing tools will take over human positions. Even as we speak, there are tons of AI writing tools already available in the market doing the work.

Graphics designing: 60% of Graphics designers will be eliminated by 2026. AI-powered designing tools like Midjourney are evolving day by day and getting more powerful and accurate.

Video Editing: 30% of Video Editing jobs will be eliminated by 2026. While AI algorithms are currently being used to automate certain aspects of the video editing process, such as color correction and image stabilization, they cannot completely replace human editors. At the same time, it’s important to note that video editing is a highly creative and intuitive process that requires a deep understanding of visual storytelling and the nuances of human emotion. It’s likely that AI algorithms will never fully replace human editors in this field, as human creativity and intuition will continue to play an important role in the video editing process.

Voiceover Artist: 90% of Voiceover artists will be eliminated by 2026. Suppose your talk about the current scenario, and many mature AI-powered Voiceover tools are already here. From them, you can create voices as you want.

Digital Marketing: 40% of Digital Marketing jobs will be eliminated by 2026. Artificial Intelligence (AI) is likely to significantly impact the digital marketing industry. While AI is already being used to automate certain aspects of digital marketing, such as email marketing and social media advertising, the technology is likely to become increasingly sophisticated in the coming years, potentially reducing the need for certain types of human workers in the field.

For example, AI algorithms may automate the process of creating and analyzing digital marketing campaigns, freeing human marketers to focus on more strategic and creative tasks.

You can refere complete list of affected Jobs and Industries on my website harrissiddiqui.com

If we talk about Non-IT sectors, they will also be impacted. This includes sectors like:

Manufacturing and assembly: Automated production and assembly processes using AI-powered robots may reduce the need for human workers in manufacturing.

Transportation and delivery: Self-driving vehicles and drones powered by AI may reduce the need for human drivers and delivery workers.

Banking and finance: AI algorithms may automate certain tasks in the banking and finance industries, reducing the need for human workers.

How can one survive and keep their job security in the face of the evolution of Artificial Intelligence (AI)

At this stage, I can share only a few tips:

Stay up-to-date with the latest AI technologies and trends. Keep track of all the latest developments in AI and how they may impact your industry. This can help you anticipate potential changes and adjust your skills accordingly. Moreover, you can do the following:

  1. Start by acquiring new skills. Consider investing in training and education to acquire new skills and knowledge that are in demand in industries that are likely to grow in the age of AI.
  2. Focus on your unique strengths, identify your unique strengths and skills that cannot be easily replicated by AI, and focus on developing those areas.
  3. Embrace collaboration with AI, and Rather than viewing AI as a threat, try to embrace it as a tool that can help you be more productive and efficient in your job.
  4. Develop a growth mindset and be open to new challenges and opportunities and be willing to continuously learn and adapt to changes in the labor market.
  5. Build a diverse skill set by developing skills in areas such as critical thinking, problem-solving, creativity, and emotional intelligence, which are likely to be in high demand in the age of AI.
  6. Follow my Blog on  harrissiddiqui.com/blog, there you will find the list of AI tools currently available which will really help you to increase your productivity.

Now for the big question… how will this evolution of Artificial Intelligence (AI) affect Pakistan and its Industries?

Ahhh. Well, let’s be honest here…. this is not good news for Pakistan, specifically the IT and IT-enabled Service Industry of Pakistan. You see, there are thousands of companies and freelancers generating a good amount of foreign income for themselves and for our country by providing these services like content writing, Graphic Designing, Software development, Digital marketing and chat base customer support to international customers, but after Artificial Intelligence, all of these areas will be majorly affected, the industry will see major job cuts in next few years.

But there’s a silver lining in all of this. We have to educate our youth on how to collaborate with AI for better productivity, and it is my personal recommendation for the government to establish research and development centers to excel in this evolving AI technology, but unfortunately, we are living in a country where even the better secondary schools are still teaching GW-Basics. Throughout the world, GW-BASICS is considered outdated. And this is the case of, in fact, better schools. We can just forget about IT education in average and low-grade schools.

Our Government has to take some serious steps toward the latest technologies, but sadly, our officials are so far behind that they are celebrating the launch of new websites for their departments… can you believe that! The world is working on flying cars, driverless cars, metaverse, blockchain technology, robotics and mainly this evolving Artificial Intelligence (AI).

Either we evolve… in this highly competitive landscape, or we are going to get obsolete.

What are your initiatives to deal with this upcoming evolution of Artificial Intelligence (AI)?

For now at BrandH2O, I have started pushing my team to maximize the utilization of AI tools, and we have recorded that productivity in some departments has increased twice as much in the last 2 months. We are also planning to start an AI Orientation program for fresh graduates. Exceptional candidates will be taken on board in their relevant departments. Overall, it will be a learning experience for everyone involved.

Additionally, we are also working on our own AI-based Digital Marketing Application, which will help businesses to generate high-quality potential leads for their businesses much more efficiently than ever before. It’s a start, but we will keep scaling it up and keep aligning our course as per the latest trend in our industry.

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