In the Next 5 Years, Artificial Intelligence Will Eliminate 26 Million Jobs Worldwide: Report

In the next five years, artificial intelligence (AI) will reduce nearly a quarter of jobs worldwide, representing 26 million positions. This job reduction will also be influenced by digitization, the transition to clean energy, and the redistribution of supply chains. This is stated in a report by the World Bank (WB), as reported by Bloomberg.

According to the WB, the initial phases of integrating artificial intelligence into the workforce will disrupt the labor market. Meanwhile, overall, the impact of most new technologies on the labor market will be positive over the next five years. Analysts from the World Bank believe that the demand for professionals in cybersecurity, big data, and sustainable management technologies will become the main factors driving employment growth worldwide.

However, the report also notes that the emergence of technologies like ChatGPT will automate or replace positions and jobs associated with communication and coordination of processes. Approximately 75% of the 800 companies surveyed by the World Bank indicated they plan to implement artificial intelligence technologies in their operations over the next five years. According to their estimates, this will result in the elimination of up to 26 million jobs. The reductions will particularly affect employees in administrative and accounting roles, including cashiers and accountants.