10 Fastest Declining Jobs According To World Economic Forum Report 2023

From the suggestions we get on social media to the voice assistants we use to operate our houses, artificial intelligence (AI) has permeated every aspect of our lives. However, as AI technology develops, worries about its effects on employment have increased.

Numerous experts believe that the automation of several jobs by AI will result in job displacement and unemployment. Although AI has the potential to completely transform the way we work and live, there is also growing worry that it will replace many jobs and put many people out of work.

The worry that AI will replace humans in the workforce is not baseless. The effects of AI are already being seen in a number of areas, and it won’t be long until more professions are automated.

AI is capable of carrying out jobs that were previously only performed by humans. In comparison to humans, it is faster and more accurate at data analysis, pattern recognition, and prediction. This makes AI perfect for jobs like data input or quality control that demand a high level of precision and repetition.

The phenomenon is already influencing fields where these activities are frequent, like manufacturing, shipping, and customer service. This has raised worries that automated robots will take over these industries’ jobs.

What is the World Economic Forum saying about this?

The World Economic Forum (WEF) has also recently published research on the possible effects of AI and the digital revolution on current employment, offering insights into the top 10 occupations that are increasing and dropping at the quickest rates.

The Future of Jobs Report 2023 by the World Economic Forum predicts that 23% of jobs will change over the next five years due to growth of 10.2% and a reduction of 12.3%. India would see a turnover rate of 22% as opposed to the world average of 23%.

The number of new jobs will increase by 69 million by 2027, while the number of job losses will total 83 million

The fastest-growing jobs in the world are those that are supported by technology. Experts in sustainability, business intelligence, artificial intelligence, machine learning, and information security are among them.

The globe is embracing technological breakthroughs and growing digitalization, which will cause the fastest fall in clerical occupations over the next five years.

So, let’s have a look at the top 10 jobs that are rapidly disappearing from our world:

1. Bank tellers and related clerks

2. Postal service clerks

3. Cashiers and ticket clerks

4. Data entry clerks

5. Administrative and executive secretaries

6. Material recording and stock-keeping clerks

7. Accounting, bookkeeping, and payroll clerks

8. Legislators and officials

9. Statistical, finance, and insurance clerks

10. Door-to-door sales workers, news and street vendors, and related workers

It’s reasonable to worry about AI replacing human workers. But it’s important to keep in mind that AI could also result in new employment opportunities.

Governments and companies can assist employees in adjusting to the shifting labor market and ensuring that they are not left behind by investing in reskilling and upskilling programs.

Also read: 10 Highest Paying Jobs You Can Get Without A Bachelor’s Degree