A joint report by the World Economic Forum (WEF) and Accenture underscores the transformative potential of generative AI and large language models (LLMs), which are set to significantly automate tasks in industries with routine language work such as credit authorizers and clerks, potentially affecting up to 80% of their tasks.
Jobs in education, guidance, career counseling and advising are expected to remain stable, with 84% of tasks showing low exposure to change. On the flip side, generative AI’s potential to enhance creativity and problem-solving skills could reinvigorate careers in fields like engineering, mathematics and scientific analysis.
According to Saadia Zahidi, Managing Director of the World Economic Forum, the generative AI is poised to impact labor markets significantly, but this impact will be highly different across different roles. Business leaders, policy-makers and employees must collaborate on harnessing the potential of new jobs while managing displacement and ensuring a future of work that empowers and elevates people.
The findings are based on an analysis of over 19,000 distinct tasks across 867 different occupations that could be influenced by LLMs. It identifies financial services, capital markets, insurance and pension management as the industries with the highest potential exposure to both automation and augmentation.
Advancements in LLMs will create new roles like AI developers, designers, content creators and ethics specialists. Kathleen O’Reilly, Chair of Accenture’s Communications, Media, and Technology Industry Practices, highlights the importance of workforce preparation, stating that the organizations offering training for collaboration with generative AI gain a competitive edge.
The report recommends proactive actions by businesses and governments including better foresight, a flexible workforce, streamlined job transitions and lifelong learning, to help the workforce thrive in a changing job landscape driven by generative AI and LLMs.