According to a disturbing prediction made by the Bank of Korea, throughout the next 20 years, artificial intelligence (AI) may affect up to 4 million jobs in South Korea. Furthermore, this substantial amount represents 14% of all employment in the nation, signals a profound change in the labour market. Therefore, the study’s conclusions are a sobering reminder of AI’s capacity to upend a number of industries, adding weight to the international conversation over AI’s effects on labour markets.
AI Threat to High-Income Jobs
The study shows that employment involving analytical and cognitive skills are seriously threatened by AI. These jobs, which are usually held by well-paid individuals with strong educational credentials, are more vulnerable to AI replacement. As AI develops, professions such as chemistry, medicine, law, accounting, and asset management are in peril.
Less Vulnerable Professions
Conversely, certain occupations seem to be less vulnerable to displacement brought on by AI. Activities which are considered to be less susceptible are such as singing, teaching, food service, and religious occupations. This contradiction highlights how differently AI has affected certain professional groupings.
The study’s conclusions have an impact outside of South Korea as they add to the continuing conversation about the possibility of significant job displacement brought on by AI. Furthermore, these revelations force companies, workers, and legislators to reconsider policies, procedures, and training for a world in which artificial intelligence plays a major role as we approach a future enabled by AI.
