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A recent global report from the World Economic Forum highlights significant shifts for the employment market projected through 2030, emphasizing substantial job growth in certain careers. Additionally, Euronews says that there are some careers that are on the chopping block, in shrinking industries or roles where artificial intelligence is replacing the need for human workers. In all, 92 million jobs are expected to be displaced by 2030, while 170 million new jobs will be created. The net net is job growth of 78 million – and, if you’re concerned about your career, you need to know where that growth is going to occur.
Sectors Experiencing Job Gains
Over the next five years, executives anticipate increases in the following positions, according to the World Econ0mic Forum:
- Software and Applications Developers (57%)
- Security Management Specialists (53%)
- Data Warehousing Specialists (49%)
- Autonomous and Electric Vehicle Specialists (48%)
- UI and UX Designers (48%)
- Light Truck or Delivery Services Drivers (46%)
- Internet of Things Specialists (42%)
- Data Analysts and Scientists (41%)
AI-Driven Layoffs in Tech and the Financial Sector
Bloomberg Intelligence report indicates that global banks are expected to cut up to 200,000 jobs in the next three to five years as AI encroaches on tasks currently performed by humans. Perhaps the above projections are suspect when compared to other sources. Recent developments in the U.S. job market suggest that the WEF optimism may be misplaced, particularly concerning the impact of artificial intelligence (AI) and automation for software developers, UI (user interface) designers and other tech-related careers. As with all projections: time will tell.
In the technology sector, companies like Meta are actively restructuring their workforces in response to AI advancements. CEO Mark Zuckerberg has announced plans to lay off approximately 5% of the company’s staff. He’s actively announced that the company is looking for ways to replace mid-level engineers with AI technology. Can we expect similar moves by other tech companies? Marc Benioff at Salesforce has introduced AgentForce – where a new army of task-oriented AI agents are ready to work for you. How will this trend evolve over the next five years?
Impact on White-Collar Jobs: Reevaluating WEF’s Projections vs. Real Job Gains
AI systems are now capable of performing complex data analysis, legal research, and even aspects of medical diagnostics, roles traditionally held by highly educated professionals. White-collar jobs are shrinking as a result.
Given these developments, the WEF’s projections may underestimate the disruptive potential of AI on employment, especially in the U.S. market. While new job categories may emerge, the transition period could involve significant displacement, requiring substantial retraining and adaptation efforts. Yet certain jobs and industries are projected to remain unaffected by automation, with good prospects for the future.
Largest growing and declining jobs by 2030
WORLD ECONOMIC FORUM
High-Growth Jobs in These Sectors, per WEF
- Cybersecurity: with rising concerns over data breaches and cyber threats, organizations are investing heavily in security management. Specialists in this field are essential for developing strategies to protect sensitive information and ensure compliance with regulatory standards.
- Data Management: the exponential increase in data generation necessitates efficient storage and retrieval systems. Data warehousing specialists are crucial for designing and managing these systems, enabling organizations to leverage data for informed decision-making.
- Renewable Energy: the global shift towards sustainable energy sources is creating numerous opportunities in the renewable energy sector.oles in solar and wind energy, as well as other green technologies, are expanding as countries invest in reducing carbon footprints.
- Healthcare and Biotechnology: advancements in medical technology and an aging population are driving growth in healthcare-related occupations. Positions in telemedicine, personalized medicine, and biotechnology research are particularly in demand.
Already Impacted by AI Advancements: These Jobs Are Shrinking
The World Economic Forum reports that there are several sectors already in decline, and the shrinkage is predicted to continue by the percentages below.
- Postal Service Workers (-34%)
- Bank Tellers and Similar Roles (-31%)
- Data Entry Clerks (-26%)
Some other declines include:
- Administrative Assistants and Executive Secretaries (-20%)
- Printing and Related Trades Workers (-20%)
- Accounting, Bookkeeping, and Payroll Clerks (-18%)
- Material-Recording and Stock-Keeping Clerks (-16%)
- Door-To-Door Sales Workers, News and Street Vendors (-14%)
These positions are increasingly susceptible to automation, underscoring the necessity for workers to pursue continuous learning and skill development. By embracing upskilling opportunities, individuals can transition into jobs less likely to be affected by AI, securing their place in the future workforce.