Monthly Salary Earners Face Threatening Report!
The McKinsey Global report predicts that AI will revolutionize approximately 12 million jobs by 2030, similar to the job losses during the COVID-19 pandemic. Sectors like office administration and customer service are expected to see job reductions due to automation. However, AI will also create new opportunities in STEM fields and in roles related to AI development and maintenance. The report stresses the importance of reskilling workers to adapt to these changes in the employment market.
Implications for the Future:
- Education and Training: There will be a critical need for education systems to adapt, focusing on STEM (science, technology, engineering, and mathematics) fields, as well as fostering lifelong learning cultures to keep pace with technological advancements.
- Policy and Governance: Governments will need to implement policies that support workforce transitions, such as offering incentives for businesses to invest in employee retraining and ensuring equitable access to new job opportunities.
- Business Strategy: Companies will need to rethink their workforce strategies, leveraging AI to augment human capabilities rather than simply replacing human labor.