There is no turning back now…
The AI Revolution is here. In fact, it’s only just begun.
The rapid advancements and adoption of AI technology are already changing societies and industries across the globe.
You are likely already using AI in your day-to-day life.
Think of ChatGPT, Tesla Autopilot, Netflix’s recommendation algorithm, and Amazon Alexa.
All AI. All revolutionary.
And with revolution, inescapably, comes change.
And nowhere will be more changed than the workplace – and the number of workers that employers require.
A report from Goldman Sachs estimates that around 300 million jobs worldwide could be affected by generative AI.
Generative AI — the sort we see with ChatGPT and DALL-E image – is a type of algorithm that generates a new output, like text or images, based on examples on which it’s been ”trained.”
According to the Goldman Sachs report, 18% of global work could become automated during this AI Revolution.
More than that, the report anticipates that AI could replace nearly a quarter of all jobs.
You might have already heard that AI can take over a large amount of administrative work, like data entry and bookkeeping. And you would be right.
However, millions of jobs and many sectors of the economy will remain relatively untouched by AI’s reach.
The most important thing to understand about the jobs that will be overtaken by AI is, simply enough, is that:
- Occupations that revolve around information processing will be the first to become obsolete.
- Jobs that require sophisticated interpersonal relationships should not be at risk of an AI takeover.
We want you to not only survive but thrive in this AI Revolution – and we’ll get into exactly how to do that during the AI Impact Event. This report is part of our thanks to you for signing up for that event. On Thursday, July 27, at 7 p.m., we will sit down together to talk about everything AI – and more specifically about how investors can set themselves up to come out on top.
But investment opportunities aren’t the only way to make sure we thrive during this latest tech revolution. Many of us will have to make career decisions – or help the younger people in our lives do so – in order to set ourselves up for success.
That’s why we’ve put together this report detailing three jobs that are most vulnerable to AI and three jobs that will remain AI-proof as a “Survival Guide” for the current AI Revolution.
Let’s take a look…
Three Jobs That Might Not Survive AI
Vulnerable Job No. 1: Legal Assistant
Legal services is one of the most likely industries to be affected by AI technology like ChatGPT. A Goldman Sachs economics research report from earlier this year found that one-fourth of current tasks required in the legal field could be accomplished by AI.
This spells bad news for legal assistants.
This job is so vulnerable to AI because legal assistants essentially do the same work as generative AI. (Remember that generative AI creates a product based off of examples it has been trained on.)
A legal assistant typically receives a large amount of case information, synthesizes it, and produces a legal brief or opinion. An “AI legal assistant” would be able to do the exact same thing… in a fraction of the time and at a fraction of the cost.
Paralegal work is also vulnerable, as generative AI can be used to review documents and enter data.
Vulnerable Job No. 2: Software Engineer
This second job that we don’t believe will survive AI may come as a bit of a surprise, especially as the skill is in-demand. However, OpenAI, the developer of ChatGPT and DALL-E, is quietly creating a competitive market…
OpenAI hired around 1,000 international contractors earlier this year to train its AI in software engineering (the development, testing, and maintenance of computer applications).
Software engineers write code for websites, apps, and software. OpenAI’s army of software-engineering AI trainers signals that the company may be creating a way to replace human coders.
AI like ChatGPT can produce code faster than humans can, which means it can work more efficiently, more cheaply, and with fewer employees. In fact, according to internal tests at Google, ChatGPT could get hired as an entry-level software engineer. That position is where coders usually start out at Google.
Vulnerable Job No. 3: Customer Service Representative
It’s safe to say that most of us have spoken to a customer service representative. In fact, we bet many of you have done so this week.
While customer service will remain key in many industries for decades to come, the humans who do that work may not be.
Rather, many companies now use online chatbots or automated voice responses on the phone to help answer customer questions or complaints.
Multiple banks have made a big switch to AI-driven customer service in recent years, using chatbots to handle customer service requests:
- Santander has a digital assistant named Sandi…
- Capital One’s chatbot goes by Eno…
- And Bank of America’s Erica now handles hundreds of millions of customer inquiries every year.
In fact, according to the federal Consumer Financial Protection Bureau, nearly 4 in 10 Americans used a bank chatbot in 2022. As generative AI gets better, expect this figure to grow and grow.
Three Jobs That Should Survive AI
AI-Proof Job No. 1: Lawyer
You may be thinking, “How can lawyers be safe, while their assistants’ jobs are on the chopping block?”
Well, this is a perfect example of the two different job types I mentioned earlier. Legal assistants are essentially information processors, while lawyers almost always are creating and maintaining interpersonal relationships.
The latter is something that, for all of its advancements, AI is not yet capable of.
Lawyers build relationships with their clients to gain trust and learn important information. During trials, attorneys craft relationships with judges and juries in order to reason, argue, and persuade.
While legal dramas are nowhere near 100% accurate, anyone who’s seen one knows that lawyers must be able to strategize, analyze, and, sometimes delicately, negotiate.
While AI can support a lawyer (in the way that legal assistants and paralegals do), it simply cannot do the full job. Artificial intelligence cannot compete with emotional intelligence when it is needed.
AI-Proof Job No. 2: Agriculture
Farming is one of the world’s oldest professions – and it looks likely to stay around for decades to come.
Most agricultural workers are not in danger of losing their jobs to AI. In 2021, as reported by the U.S. Department of Agriculture, the food and agriculture sectors made up 10.5% of the labor force, with 21.1 million full- and part-time jobs.
Moreover, the agricultural sector is experiencing a boom. According to the World Economic Forum, agricultural equipment operators are expected to have the highest total job growth in the next five years, reaching over 2.5 million jobs and rising 30%.
The reason the AI Revolution hasn’t reached agricultural jobs is simple: Many small farms in the United States don’t make enough profit to invest in machinery, and small family farms take up about half of this country’s farmland. So, many farms aren’t yet leaning into AI tech.
AI-Proof Job No. 3: Educator
Lastly, a job that will surely remain AI-proof is that of an educator.
While teachers have discussed and debated the benefits and detriments of ChaptGPT over the last several months, one thing is for certain: Educators almost certainly will incorporate AI into their teaching, but their jobs cannot be replaced by AI.
The reason, once again, is the necessary personal relationships that teachers build with their students.
The Future of Jobs Report 2023, put out by the World Economic Forum, states that the most important skills for workers in 2023 are empathy, active listening, leadership, and social influence – all skills that a teacher must possess.
In an eight-hour workday, a teacher makes around 1,500 decisions, based on research collected in the 1980s and 1990s. This equates to about three decisions per minute!
While AI is capable of synthesizing information and creating an output, it can’t yet use empathy or active listening. And those two skills are essential in teachers’ decision-making processes.
The report also says that vocational and higher education jobs are expected to grow 10% in the next five years, creating 3 million educator roles. ”Soft” skills like emotional intelligence are key to fulfill this growth – and highly human skills require highly skilled humans, not artificial intelligence.
Wrapping Up
The AI Revolution is here, the best thing you can do now is learn how to survive the changes it will bring. In this AI Survival Guide – one of our free gifts to you signing up for the AI Impact Event – we discussed three jobs that AI will likely make obsolete… and three more that should stay safe.
And on Thursday, July 27, at 7 p.m. Eastern time, we will sit down for that special AI Impact Event to further discuss AI and how you can best position yourself to profit.
You’re already registered for the event, so don’t forget to mark your calendar.
In the meantime, you can check out our other report – The AI Stock Watchlist – where we cover which AI stocks you should keep an eye on.
Regards,
Eric Fry
Senior Analyst, InvestorPlace
Luke Lango
Senior Analyst, InvestorPlace
Louis Navellier
Senior Analyst, InvestorPlace