A new whitepaper published on September 18 by the World Economic Forum (WEF) in collaboration with Accenture examined the possible impact of Large Language Models (LLMs) on jobs. LLMs are artificial intelligence algorithms that can generate content by using large datasets and doing tasks including summarization, translation, prediction, and content generation.
This WEF white paper's main objective is to assess how AI might enhance or automate certain job roles. It provides a thorough examination of the potential impact of large language models (LLMs), like ChatGPT, on certain jobs within several professions.
The focus of the new WEF white paper is on assessing the ways AI could automate or augment various jobs. It provided an in-depth analysis of the potential impact of LLMs such as ChatGPT on individual tasks across occupations.
Here is a summary of the key findings of the report:
Jobs with potential for AI augmentation
According to the report, titled "Large Language Models and Jobs: Jobs of Tomorrow," AI technology cannot completely replace tasks that involve critical thinking and complex problem-solving; instead, it would improve these job roles. The paper emphasises that assistance provided by the LLMs will lead to time savings and increased productivity. The analysis finds LLMs are likely to be useful in areas such as financial services, capital markets, insurance, and pension management. The paper mentions professionals such as insurance underwriters, mathematicians, editors, database architects, statisticians, research analysts, interpreters, and translators could potentially benefit from LLMs' support.
Additionally, new job areas such as AI developers, interface and interaction designers, AI content creators, data curators and specialists in AI ethics and governance, could emerge with LLM adoption, the paper noted.
"The introduction of these new technologies will change the nature of the labour market but will not necessarily eliminate jobs,” the report said.
Jobs most at risk from AI
The whitepaper highlighted that routine and repetitive tasks, such as those carried out by telemarketers, checkers, typists, legal secretaries, loan interviewers, bill collectors, and clerks, are the roles most vulnerable to AI takeover. It said AI has great potential to automate these tasks.
Jobs to remain relatively unaltered
The paper said that jobs which demand a higher degree of personal interaction are less likely to be impacted by LLMs. Healthcare professionals, teachers, social workers, career advisors and human resource managers have a low potential for automation through AI, according to the paper.
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