AI is significantly transforming the job market by automating routine tasks, which may reduce entry-level opportunities for younger workers. A study by the New York Federal Reserve Bank found that nearly 40% of Americans believe advancements in generative AI could lead to job reductions. The World Economic Forum projects that 44% of worker skills will be disrupted in the next five years, while Goldman Sachs estimates that AI could affect 300 million jobs globally. Current job postings increasingly demand AI-related skills, reflecting a shift in employer expectations.
Earlier this month, Indeed CEO Chris Hyams said in an interview with Fortune that two-thirds of jobs posted on the company's site list skills that AI can already handle.
According to data from Goldman Sachs, AI could impact up to 300 million full-time jobs worldwide with significant effects in advanced economies like the United States and Europe.
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