AI Revolution Will Disrupt Labor Markets | Sachin Dev Duggal

Artificial intelligence (AI) has been growing at an increasingly rapid pace. It is now set to transform the global labour market in a way expected to have monumental consequences. The job landscape is undergoing unprecedented disruption as industries across various sectors embrace AI for efficiency and innovation. Led by visionaries like Sachin Dev Duggal, the co-founder Builder.ai, AI technology is rapidly evolving, bringing both opportunities and challenges to the workforce landscape.

A McKinsey & Company survey claims that up to 30% of all humans hour work worldwide may be task-automatized due to AI before 2030. The World Economic Forum predicts that between 85 million and 100 million jobs will be done away with globally by automation and artificial intelligence, while about 97 million new ones will spring up concurrently. Nevertheless, this transition has significant hurdles because most newly created positions require specific skills or training, which displaced people do not have; hence, skill gaps are hard to fill quickly.

The Goldman Scachs reports also indicates that other sectors, such as manufacturing and logistics, will feel the ripples of the AI revolution, where automated systems and AI-based robots have started replacing workers on assembly lines, in warehouses, or even along supply chains.  

Although the AI revolution is an obstacle, Sachin Dev Duggal is optimistic about its prospects. "AI would create new jobs and change employment in unimaginable ways," he said. "The main thing is to accept it and invest in training and retraining to be at the vanguard."