The demand for experts in AI and robotics is on the rise. Choosing a career path can be challenging, but being aware of the job market’s demands and understanding future trends can help make an informed choice.
In a recent report titled “Future of Jobs Report 2023,” published by the World Economic Forum (WEF), several professions were identified as the fastest-growing worldwide.
It is clear that AI and Robotics experts are in high demand, and ultimately, jobs are losing their shine. See the future of AI as compared to jobs.
These include artificial learning and machine learning specialists, sustainability specialists, business intelligence analysts, information security analysts, fintech engineers, data analysts and scientists, robotics engineers, electrotechnology engineers, agriculture equipment operators, and digital transformation specialists.
The report sheds light on the evolving employment landscape, emerging trends, and the skills that will be essential for the workforce in the years to come.
On the other hand, the report points out jobs experiencing declining demand. These include bank tellers and related clerks, postal service clerks, cashiers and ticket clerks, data entry clerks, administration and executive secretaries, material recording and stock-keeping clerks, accountants, bookkeeping and payroll clerks, legislators and officials, statistical, financial, and insurance clerks, door-to-door sales workers, and street vendors.
According to the report’s predictions, the evolving job markets will result in a 23% change in job roles by 2027, creating 69 million new jobs and eliminating 83 million. The transition towards green practices and the localization of supply chains are expected to contribute to overall job growth.
The report emphasizes that cognitive skills, such as analytical and creative thinking, will be crucial for workers in 2023 and the subsequent five years. Many companies are expected to focus their skills strategies on AI and big data. Recently, a virtual news presenter is using AI in Kuwait. This news has encouraged other channels to grow in AI.
Regarding Pakistan, the report highlights the country’s significant working-age population, estimated at around 85.78 million, representing a substantial pool of potential talent. However, Pakistan’s workforce strategy outlook presents a mixed picture.
While there is a 41% expectation of improved talent availability, there is also a 24% expectation of talent retention worsening for the existing workforce. Currently, the country’s labour force participation rate is 57%, with 55% of the workforce engaged in vulnerable employment. Fortunately, the unemployment rate remains relatively low at 5%.
Amir Jahangir, the CEO of Mishal Pakistan, a WEF partner institute, emphasizes that Pakistan has the potential to contribute its human capital to the global job market. However, it is crucial to focus on strengthening the education system, investing in vocational training, and fostering a culture of innovation.
Saadia Zahidi, the WEF managing director, acknowledges that the job market has faced uncertainty in recent years due to factors such as the Covid-19 pandemic, geopolitics, and economic shifts. The advancements in AI and other technologies have introduced risks to many professions. Nevertheless, there is optimism as governments and businesses actively invest in the transition toward future-proof jobs.
In conclusion, staying informed about the changing job market landscape and acquiring the necessary skills will be essential for individuals navigating their career paths. The future holds tremendous potential, and by aligning with emerging trends, individuals can position themselves for success in the evolving job market.