The Impact of Artificial Intelligence and Automation on the US Workforce
While the US economy is expected to create more jobs from automation than it loses over the next decade, millions of workers will need to adapt to new roles.
It is projected that automation and economic growth in the US economy could create more jobs than it destroys over the next decade. However, driven by the impact of artificial intelligence and demographic aging, approximately 11 million workers in declining occupations will need to transition to new roles and manage workforce transformation.
Workforce Transformation
It is stated that the US economy may create more jobs over the next decade than those closed due to automation, but this situation may require one of the largest workforce transformations in history.
Growing and Declining Occupations
Future growing jobs generally offer higher wages while requiring greater skills. While 60 percent of growing employment may be concentrated in the top two wage brackets, over 70 percent of declining employment remains in the lower brackets.
Artificial Intelligence and Employment Balance
It is estimated that automation could reduce workforce demand by the equivalent of about 36 million jobs, while the artificial intelligence value chain and growth could generate demand for more than 40 million new jobs.
Transition Pathways and Barriers
Although a transition route to a new job exists for every worker, only about one in seven can take this step directly with limited retraining. Barriers such as certifications can obstruct existing pathways.
Required Skills
Demand for AI fluency has increased 11-fold since 2022, while skills such as adaptability, resilience, and the willingness to learn are of critical importance in a constantly changing business world.