The Organisation for Economic Co-operation and Development (OECD) is forecasting that 27% of jobs in nations with wealthy and emerging economies are at risk of automation due to technology advancements, such as artificial intelligence.
A study by OECD, found that 27% of jobs are “in occupations at high-risk of automation.”
“While firms’ adoption of AI is still relatively low, rapid progress including with generative AI (e.g. ChatGPT), falling costs and the increasing availability of workers with AI skills suggest that OECD countries may be on the brink of an AI revolution,” OECD stated. “It is vital to gather new and better data on AI uptake and use in the workplace, including which jobs will change, be created or disappear, and how skills needs are shifting.”
OECD’s study showed that people with jobs in finance, law, and medical careers are especially vulnerable to artificial intelligence automation, particularly in European countries.
According to The Guardian, OECD’s study indicated that the potential for artificial intelligence substitution in the workplace is substantial, causing people to have serious concerns regarding decreased wages and job loss.
As a result of recent advancements in technology, such as ChatGPT, OECD believes economies across the 38-member organization could be majorly impacted in the coming years.
“These rapid developments, combined with the falling costs of producing and adopting these new technologies, suggest that OECD economies may be on the cusp of an AI revolution which could fundamentally change the workplace,” the company said.
OECD Secretary-General Mathias Cormann recently described the advancement of artificial intelligence as a “technological watershed,” while encouraging lawmakers to develop policies regulating artificial intelligence and “appropriately managing the downside risks.”
“How AI will ultimately impact workers in the workplace and whether the benefits will outweigh the risks, will depend on the policy actions we take,” Cormann said. “Governments must help workers to prepare for the changes and benefit from the opportunities AI will bring about.”