AI Threatens Over 3 Million South Korean Jobs



The rapid evolution of AI technology is causing a seismic shift in the work sector in South Korea. The Korea Institute for Industrial Economics and Trade (KIET) claims in a study that artificial intelligence could replace more than 3.27 million employment, which accounts for 13.1% of all jobs in the nation.

The agency emphasised that the adoption of Artificial Intelligence by domestic organisations is at a moderate rate—4% as of 2022—but predicts that this number will rise in the near future. Professional jobs are especially concerning since they make up a large number of AI-replaceable jobs—1.96 million positions, or 59.9% of the at-risk roles—according to the research. Of these, 99.1% of positions in the financial and managerial sectors are vulnerable to AI-related job displacement.

The banking sector is not the only one feeling the effects; the information and communication technology and scientific and technical services sectors are also anticipating significant employment losses. Notably, experts estimate that Artificial Intelligence would likely replace 380,000 positions in information and communication technology and 450,000 jobs in scientific and technical services.

Related link: AI Risks Up To 14% Of Jobs In South Korea

The ‘s initiative is one example. The administration has chosen to use an AI-based virtual human announcer to convey news about the island’s well-liked tourist attractions rather than employing a professional.

Artificial Intelligence technology is advancing at an alarming rate, therefore attempts to replace different kinds of occupations with AI will not stop. A representative of a nearby AI organisation anticipates that this will result in cost savings and increased efficiency.

As KIET research fellow Song Dan-bee pointed out, AI-driven job displacement is expected to take different forms than past waves of automation. According to The Korea Times, Song underlined that Artificial Intelligence has already caused noticeable changes in the demand for employment, indicating the necessity of strategic personnel planning.

Leave a Reply

Your email address will not be published. Required fields are marked *