Artificial Intelligence to replace 5% full-time tech jobs annually in five years: Report

Artificial Intelligence will replace 5% full time technology (FTE) roles annually over the next 5 years, reported Economic Times. Outsourcing expert Pareekh Jain has told the publication that an estimate 5% FTE roles would annually mature to newer roles as they are replaced by AI tools.

“It will not be a massive shift overnight. It is the support roles that do not require much decision-making capabilities where such changes will happen and they have already been in progress for years,”Jain told Economic Times

The report quoted experts and said that while basic jobs are replaced with AI based automation solutions a higher level of jobs will be created that will involve less support roles and more decision-making and strategic roles.

The report also quoted Executives from leading Automation companies like ServiceNow and UiPath and said that they see this change in job profiles evolving over the years as enterprises themselves figure out their AI strategy.

Meanwhile, ServiceNow CTO Pat Casey has told Economic Times in July that whenever a ground-breaking new technology is introduced in any sector, it just leads to a lot more new work.

“If you look at the larger tech ecosystem, there is always a dearth of engineering talent. So, if certain jobs are automated, it will not mean that people will become jobless, just that they work on more value-added work elsewhere,” Casey told Economic Times.

Also Read: Infosys signs $2 billion AI and automation deal

According to a study by McKinsey Global Institute titled Generative AI and the Future of Work in America, an estimated 12 million occupational transitions may be required in the US alone by 2030. The maximum impact on productivity is expected to be in areas of marketing and sales.

Artificial Intelligence is also expected to significantly impact functions like customer operations, product development and software development.