How Will AI Change The Job Market?

If you’re worried about losing your job to AI, you’re not alone. What fields are already being impacted by the growth of AI, and which jobs might be in danger?

Key takeaways

• OpenAI’s ChatGPT has already led to some online publications writing articles using an “AI assist”
• HR departments may start using AI to help in the hiring process, training the technology to rate resumes and identify ideal candidates
• AI technology exists that optimizes insurance claims, assisting not only with underwriting and image analysis but also identifying cases at risk of escalation

With the release of OpenAI’s ChatGPT, many people wonder what jobs will be affected by this new technology. Artificial intelligence (AI) has the potential to streamline and make many jobs more efficient, but some improvements might make certain jobs unnecessary.

Here’s a look at the different tasks artificial intelligence in on track to handle, if not already, with a focus on how these new AI tasks influence the job market. If you’re interested in investing with AI and, you can get started by downloading Q.ai today.

ChatGPT and natural language processing

ChatGPT is an example of a natural language processing (NLP) AI, which relies on deep learning to understand and interact with human text. It uses natural language understanding (NLU) to determine a user’s intent by analyzing the components of a sentence and implements natural language generation (NLG) to produce writing and summarize information.

It’s an example of what experts typically call narrow artificial intelligence, a type of AI that performs tasks and is limited to a specific application. Narrow AI has a fixed domain model provided by its programmer, whereas general AI (which doesn’t exist yet but is more similar to the AI seen in science fiction) would self-learn and have a fuller range of cognitive abilities.

ChatGPT’s functionality is not limited to helping kids with homework and writing goofy poetry. People are finding various uses for AI that could significantly impact numerous industries.

News and media publications

BuzzFeed made headlines after announcing it would use AI technology created by ChatGPT creator, OpenAI, to enhance its online quizzes and personalize written content. The site debuted its first AI-assisted content yesterday, a handful of Valentine’s Day-themed quizzes with names like “This AI Quiz Will Write A Rom-Com About You In, Like, Less Than 30 Seconds.”

CNET has also experimented with AI technology when writing articles. Last November, the same month ChatGPT was released, CNET began using AI. So far, the publisher has written over 75 articles utilizing this technology.

It’s unclear what jobs will be threatened by AI in this field. Will NLP AI become advanced enough to replace human reporters? What about fact-checkers? CNET said it would always have human reviewers checking articles written by AI. Could this be a job more people take on as AI-written articles become more common?

HR and legal functions

ChatGPT’s ability to quickly produce written text has implications for jobs that involve drafting lengthy documents and contracts. Standard legal documents like lease agreements and NDAs are relatively easy to replicate, but AI can make the process more efficient. While few experts predict AI will replace lawyers, it could stream their work.

Similarly, HR departments can save time drafting easily replicated documents with AI. Some added benefits for HR teams may involve the hiring and interviewing process. AI trained on large datasets can understand a company’s ideal candidate while tracking and rating resumes submitted by prospective hires.

Even though this may result in HR departments hiring fewer people, the advancements offered by AI will hopefully make those workers’ jobs more manageable. AI startups like Lexion have already emerged, specifically geared toward HR, legal teams and other companies with contract-writing needs.

Computer programming

ChatGPT can write code for software and applications. It can even check programming languages for errors. Some experts have suggested that AI may eventually replace most coding jobs. Still, others have argued this will be difficult since ChatGPT produces computer code by drawing from datasets of existing code.

Currently, ChatGPT is limited in innovating and finding new solutions to problems. It also can’t always offer users a code that is appropriate for their website or application context. The technology is not yet fool-proof, so it may always be necessary for a human to review code written by an AI.

As AI’s coding abilities develop, it’s possible coding jobs may decrease. OpenAI has already developed Codex, an AI system that translates natural language to code, and Microsoft has started experimenting with this technology.

Internships

Though this is more speculative, AI’s effect on entry-level positions and internships may be more immediate than senior roles. Many of these positions involve more mundane tasks, including sending emails or producing advertising copy. Is it possible that companies will have less need for these positions as AI like ChatGPT improves?

At the same time, people looking for internships are generally younger and may have an easier time pivoting into a field with more job growth. There are thousands of machine learning and AI-related internships online right now, so the development of AI may lead to a net increase in these roles.

It’s incorrect to say AI will only affect more basic, task-oriented work. Technically advanced work, including drafting first drafts of legal documents and computer programming, may quickly fall under the domain of artificial intelligence. In addition, more established employees may see their work schedules and activities shift as AI takes care of repetitive tasks.

Customer service and conflict-resolution

Certain companies, such as McDonald’s and Chipotle, have been experimenting with artificial intelligence robots in their drive-thrus. Though not advanced enough to successfully imitate a human customer service worker, these examples suggest you may one day see AI replace most workers in this field.

In a slightly related example, Canal Insurance, a trucking insurance company, recently partnered with CLARA analytics. CLARA provides insurance claim optimization technology that assesses and helps resolve claims. It also identifies cases at risk of escalation. This technology could improve customer service for many companies and accelerate inefficient processes.

How does AI impact investors?

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The bottom line

Artificial intelligence is already changing numerous industries, from customer service to computer coding. With these changes, we’re seeing a growing sentiment of anxiety around job loss.

AI will undoubtedly cause some people to lose their jobs, but many new jobs could also be created, particularly in AI development and deep learning.

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