Impact of Generative AI on Jobs in 2024 and Beyond

Last updated by Nahush Gowda on Oct 09, 2024 at 11:09 AM | Reading time:

The impact of generative AI on industries and businesses has been substantial in the last couple of years. While generative AI is very capable, it cannot replace jobs completely and human oversight is still required. Given the capabilities of gen AI tools, there is a lot of fearmongering about people losing their jobs to AI. Can it though?

How has generative AI impacted jobs? Will there be massive job losses? Or is there an opportunity for something new? In this blog, we will understand the impact of generative AI on jobs in 2024 and beyond.

What is Generative AI?

Generative AI is a subset of artificial intelligence that is capable of producing new content, such as text, images, and code with the help of deep learning systems like large language models (LLMs).

Notable examples include OpenAI's GPT-4 and DALL·E, which uses huge datasets to generate content in a manner that mimics what a human would come up with. At the base of these systems lie transformer-based architectures that have revolutionized Natural Language Processing (NLP), making it almost indistinguishable from human creations.

Since OpenAI’s ChatGPT burst onto the scene in November 2022, generative AI technology has spread like wildfire throughout various industries and sectors. For example, GitHub Copilot based on OpenAI Codex is a code-generating assistant for developers and DALL·E generates images of things that do not exist. Those applications have now grown well beyond their ad-hoc applicability as tools for automating creative processes.

Positive Impact of Generative AI on Jobs

Let’s look at the positive impact of generative AI on jobs and how they have affected both employees and businesses.

1. New Roles and Job Creation

While there is some truth to the AI replacing jobs, it is not as gloomy as one might think. While generative AI may automate certain low-skilled jobs, it has created an entirely new industry and dozens of opportunities.

For example, generative AI has led to the creation of Prompt Engineers. They are the people trained to issue nuanced instructions, all in an effort to get as much out of those AI tools as possible. Query optimization for getting more from GPT models also requires creativity in language, not just technical skillfulness.

Several organizations are today recruiting AI Ethicists to challenge issues of bias, fairness, and liability in AI. More so, as the use of AI extends to almost all decision-making processes, from who will be employed to who receives a loan, companies such as Microsoft and Google keep adding employees for AI governance.

AI auditors and ethics boards are equally important as more emphasis is on fairness and transparency and the impact that AI decisions have on society.

The impact of generative AI on more traditional job roles is substantial as well. There is an increasing demand for more traditional jobs like Data Scientists, Software Developers, Machine Learning Engineers, etc. AI is primarily driven by data science and machine learning and there is a rise in demand for such job roles in this domain.

2. Enhancing Productivity and Efficiency

Generative AI is not only creating new jobs, it is enhancing productivity and output in various job roles. For instance, in software development, tools like GitHub Copilot or TabNine have already changed the way software engineers work.

These tools can predict the next line of code, suggest optimizations, and even debug issues. GitHub reports that developers using Copilot increase their coding speed by 55%, and 60% of its users feel more productive.

impact of generative AI on jobs-ai tools

This is where AI becomes important for DevOps engineers to automate repetitive jobs, such as maintaining a CI/CD pipeline. Tools like AutoGPT and DeepMind's AlphaCode that create test cases, run them, and return code fixes are really useful. In this regard, a developer can deploy software in a much faster way.

This is a good example to demonstrate that just because ChatGPT can produce codes, it will not replace software developers. Gen AI tools will help professionals focus more on the strategic aspects instead of spending time on repetitive, boring tasks.

3. New Generative AI-Powered Businesses and Products Are Generating New Jobs

Perhaps the biggest impact of generative AI is on business and birthing a whole new industry. This has a direct impact on jobs. Since the release of ChatGPT, there has been a slew of new products and services powered by generative AI.

Tools like Jasper and Copy.ai have made it much easier for companies to produce marketing copy, blog posts, and advertisements in minutes while completely revolutionizing digital marketing.

In software development, tools like GitHub Copilot support the developers by writing and suggesting code. Similarly, TabNine offers AI-based code completion, automating a large portion of programming tasks and allowing developers to focus on solving more complex issues.

Generative AI has also invaded healthcare with companies like Insilico Medicine using gen AI to accelerate drug discovery. In finance, for instance, Kasisto uses generative AI to power the chatbots that will offer a customized banking experience to customers.

There is a generative AI tool for virtually every sector or industry from media and healthcare to gaming. With so many new businesses and products popping up, there is a sharp rise in jobs such as Applied AI Engineers and increased demand for jobs like software engineers, UI/UX designers, and backend and frontend developers.

Long-Term Impact of Generative AI on Careers

By now, it is clear that generative AI is not going to completely replace any job. It will just help professionals automate some of their tasks and allow them to think strategically and take a much more “managerial” role.

This is good in a way as it helps professionals really focus on problem-solving and approaching a problem creatively while generative AI does all the heavy lifting. In tech roles, with AI handling coding, testing, and all the grunt work, professionals will need to change their focus from execution to management of AI-driven processes while ensuring quality and optimized output.

For instance, architects no longer have to hand draw their designs because tools like Autodesk’s Generative Design can generate new potential designs that may be optimized on dimensions, cost, sustainability, or aesthetics. With this, architects need to manage and validate the designs generated by the tool rather than manually fill in every detail.

Across the software industry, engineers are being absorbed into new roles and tasked with various aspects of AI supervision from monitoring AI systems, diagnosing issues, and improving system performance.

Also read: How Companies are Implementing Generative AI? An Insider’s Look

Negative Impact of Generative AI on Tech Jobs

However, everything is not positive. There are some negative impacts of generative AI on jobs and various careers. While generative AI cannot completely replace jobs, it can automate many existing ones, particularly in fields with a high level of repetitive work. Junior developers, data entry clerks, and technical support staff are at high risk of losing their jobs to gen AI.

A 2023 Forrester report projected that by the end of ten years, generative AI will automate up to 9% of the jobs in software development, content creation, and finance. Although these statistics may not be as dramatic as other projections, they will still impact the industry in massive ways.

Accenture estimated that AI can automate up to 40% of basic coding and testing tasks. In that sense, entry-level developers will have to upskill or risk being replaced in the job process.

Large-scale automation has already begun in sectors such as finance, where AI tools are replacing the mundane task of answering routine customer queries. These examples show how AI will eventually replace human employment in repetitive, low-complexity jobs.

Skill Gaps and the Need for Upskilling

It is very clear that low-skilled professionals will eventually lose their jobs to generative AI. This is a major impact of generative AI on professionals irrespective of sector or industry. As generative AI becomes more capable, everyone will have to upskill themselves and become better at their jobs or pivot to another job.

Much like how computer skills became an integral part of any job in the late 1990s and early 2000s, generative AI will play the same role in this decade. As businesses and companies increasingly incorporate AI into their workflows, professionals will be required to understand the use of generative AI as a tool to improve productivity and enhance output. Using AI tools and generative AI will become an integral part of every job, eventually.

Upskill Your Career and Learn to Harness the Power of Generative AI with Interview Kickstart

The impact of generative AI will be more apparent in this decade as the technology matures even further. Generative AI will be a tool, just like computers, and you will eventually have to catch up to it. Irrespective of your job, you will have to reskill, upskill, or pivot to an entirely new job.

With Interview Kickstart’s Applied Generative AI Course, you will learn how to use generative AI in your job roles. You will learn from the FAANG+ experts who are at the forefront of GenAI innovation.

Led by industry experts (from the likes of Google, Facebook, and LinkedIn), our instructors will help you understand generative AI and teach you how to use it effectively in your job roles. You can check out some of the success stories of our alumni who have advanced their careers with generative AI.

FAQs: Impact of Generative AI

1. What Is The Impact Of Generative AI on Tech Jobs?

Generative AI is giving rise to new job roles and opportunities like Applied AI Engineer, AI Ethicists, etc, and increasing the demand for more traditional jobs like software engineers, data scientists, and machine learning engineers.

2. What Is Generative AI?

Generative AI is a type of AI that brings new content, ranging from text and images to code, by using deep learning systems, like OpenAI's GPT-4 and DALL·E.

3. Will Generative AI Replace Jobs Entirely?

Absolutely not. Although it might replace certain work aspects, a great many jobs will be created or improved in productivity.

4. What Jobs Are At Risk Due To Generative AI?

Jobs like data entry clerks and junior developers are more at risk due to the replacement of low-complexity roles.

5. How Can I Prepare Myself To Mitigate The Impact Of Generative AI?

Upskilling yourself and learning to leverage generative AI into workflows is the best way to prepare for the AI era.

Related reads:

AUTHOR

Nahush Gowda

Generative AI

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Impact of Generative AI on Jobs in 2024 and Beyond

Contents

Nahush Gowda

Attend our Free Webinar on How to Nail Your Next Technical Interview

How to Nail your next Technical Interview

Worried About Failing Tech Interviews?

Tools to Enhance Full Stack Development with AI

The Future of Data Science: Emerging Trends and Opportunities

Data-Driven Decision Making: Your Roadmap to Business Success

The Business Impact of Machine Learning: Real-world Case Studies

What is OpenAI? Everything You Need to Know

Mock Interviews for Generative AI: Essential Practice to Land Top AI Roles

Top Python Scripting Interview Questions and Answers You Should Practice

Complex SQL Interview Questions for Interview Preparation

Zoox Software Engineer Interview Questions to Crack Your Tech Interview

Rubrik Interview Questions for Software Engineers

Top Advanced SQL Interview Questions and Answers

Twilio Interview Questions

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