A recent report by the OECD, titled "Job Creation and Local Economic Development 2024," has shed light on the evolving role of artificial intelligence (AI) within the workforce, indicating that while the technology is set to significantly impact various sectors, it may ultimately lead to net job creation. The findings challenge earlier fears regarding AI's potential to eliminate positions within the workforce, stating, “the emerging tech (generative AI) is likened to automation, which actually led to a net creation of jobs despite some being lost for good."
Historically, AI's influence has primarily been felt in low-skilled, repetitive tasks, particularly within manufacturing and administration. However, the report highlights a shift in this trend, noting that AI is now capable of managing more complex, cognitive non-routine tasks traditionally performed by highly-skilled professionals in fields such as education, finance, and information technology. According to the OECD study, generative AI currently impacts approximately a quarter of jobs, demonstrating its expanding reach across different sectors.
Experts anticipate that AI will contribute to addressing ongoing skill shortages by enhancing accessibility to roles that previously might have been out of reach for certain individuals. The OECD suggests that this approach could manifest a more inclusive workforce, thereby altering the landscape of employment.
Looking towards the future, the OECD’ report warns against the risk of repeating the "uneven recovery" seen after the pandemic as AI continues to evolve. It advocates for enriched collaboration between public and private sectors to formulate detailed policies aimed at safeguarding workers’ rights while investing in initiatives for upskilling and reskilling.
In order to maximise the benefits of AI, the report calls for a multifaceted strategy. This includes not only identifying opportunities for AI-driven regional growth but also fostering awareness of the advantages it offers for both employees and employers. Importantly, the OECD stresses the need to improve the adoption of AI tools amongst small businesses, establish frameworks to manage potential AI-related risks, and provide tailored support for workers who may be displaced by the technology.
As industries continue to adapt to the integration of AI, the OECD report presents a comprehensive view on the necessity for strategic policies and collaborative efforts to harness AI’s potential while mitigating its impacts on the workforce.
Source: Noah Wire Services