How AI Will Impact Job Sectors in Countries Leading AI Adoption

Artificial Intelligence (AI) is rapidly transforming various industries, and its impact on job sectors cannot be ignored. In this article, we will explore how AI is expected to change job markets in countries that have adopted this technology the most. By analyzing investment data and job sector disruption predictions, we can gain insights into the potential effects of AI on different industries.

What We Did

To assess the impact of AI on job markets, we considered two primary sources:

Investment Monitor’s AI Index: This index ranks countries based on their AI investment and talent.
PwC’s Global Artificial Intelligence Study: This study highlights job sectors that are most likely to be disrupted by AI.

By combining the indices from both studies, we created our own Global AI Impact Score to determine the extent to which each country’s job market is affected by AI.

Key Findings

The healthcare sector is expected to be the most disrupted by AI, with administrative tasks like medical record keeping being automated.
Workers in the United States, particularly in retail, technology, and finance, face the highest risk of job displacement due to AI.
Iceland and Estonia are also at risk of job displacements caused by AI, but they are utilizing AI to address unemployment issues as well.

United States

The United States leads our Global AI Impact Score, and it comes as no surprise given the advancements in AI technology such as ChatGPT and DALL-E. Healthcare, finance, and retail jobs in the US are at the highest risk of automation. For example, banking has already seen a decline in teller and administrative positions due to automation. Financial qualitative analysts may face threats from advanced AI in the near future. Retail is also experiencing job outlook shrinkage for cashiers due to self-checkouts and concerns among marketers about AI content generation surpassing human skills.

Iceland

Iceland, known for its adoption of new technologies, is likely to see significant disruptions in the healthcare and retail sectors. As the country deals with a healthcare worker shortage, the impact of AI on improving or worsening the situation remains uncertain. However, some companies are already using conversational AI in customer support chatbots to provide faster services and reduce the demand for human agents.

Estonia

Estonia, a pioneer in data-driven government, has been replacing workers in the public sector with AI and machine learning. The country plans to adopt more AI innovation in technology, automotive, and retail industries. Although the impact of AI on job displacements in Estonia is debatable, experts predict that robots and automation may make warehouse drivers and construction workers redundant. Estonia has been actively harnessing AI to tackle unemployment and has launched an AI Task Force to address the declining labor shortage caused by an aging population.

Japan

Japan has long been at the forefront of the tech industry, and AI adoption is no exception. The manufacturing sector has already experienced a decline in job postings for easily-automated labor due to AI and robots. This trend is expected to continue as Japan grapples with an aging society and a decreasing working population. Leading tech companies in Japan, including Fujitsu, Canon, and Toyota, demonstrate strong support for AI adoption through their AI-related patent applications. The country has also experimented with unmanned convenience stores.

Austria

Experts predict that around 9% of jobs in Austria will be automated due to robotics and AI. The country’s increased spending on AI innovations indicates a potential realization of this forecast. Austria is home to advanced research in autonomous driving and has even allowed public testing of self-driving vehicles. The finance sector is another industry expected to be significantly affected by AI, with the rise of Fintech startups aiming to reduce manual labor in business operations like accounting and tax calculations.

Switzerland

Experts estimate that over 25% of the Swiss job market could be impacted by AI by 2030. The finance, tech, and healthcare sectors are likely to feel the effects the most. While AI may replace jobs with basic physical and cognitive skills, it also presents opportunities for new jobs to be created. Many Swiss companies have already implemented AI training programs to help employees upgrade their skills. Banks and insurance companies in Switzerland have been using various machine-learning applications regularly.

Methodology And Sources

We relied on Investment Monitor’s AI Index to understand which countries are leading in AI investment and talent. We also used working population data from ILOSTAT’s country profiles and categorized them by job sectors from PwC’s Global Artificial Intelligence Study. By combining these sources, we calculated the population numbers affected by AI in each job sector and country.

Author: Domantas G.

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