WEF: Generative AI to Enhance Creativity, Automate Routine Tasks for Future Jobs

How large language models (LLMs), deep-learning algorithms that can recognise, summarise, translate, predict and generate content using very large datasets, affect current and future jobs is the focus of a new World Economic Forum (WEF) white paper ‘Jobs of Tomorrow: Large Language Models and Jobs,’ released at the weekend.

The white paper, in collaboration with Accenture, found that LLMs could be a boon for jobs that required critical thinking, complex problem-solving skills and creativity, including those in engineering, mathematics and scientific analysis.

These tools could benefit workers by increasing the productivity of routine tasks and making their roles more rewarding and focused on a higher added value.
This paper takes a structured approach to understanding the direct impact of LLMs on specific jobs likely to play out in the short term.

“Generative AI is poised to impact labour markets significantly, but this impact will be highly different across different roles,” the Managing Director, World Economic Forum, Saadia Zahidi said.

“Business leaders, policy-makers and employees must collaborate on harnessing the potential of new jobs while managing displacement and ensuring a future of work that empowers and elevates people.”

According to the analysis, which examined more than 19,000 distinct tasks across 867 different occupations likely to be impacted by LLMs. The industries with the highest estimates of overall potential exposure – both in automation and augmentation – are financial services and capital markets, along with insurance and pension management.

“As LLMs advance, new roles will also be created, including AI developers, interface and interaction designers, AI content creators, data curators and specialists in AI ethics and governance.

“The jobs most at risk of disruption – with up to four-fifths of the tasks automated – are those that involve routine and repetitive language tasks, including roles such as credit authorisers, checkers and clerks.

“The occupations projected to remain relatively unaltered include education, guidance, career counsellors and advisers, with 84 per cent of their tasks having a low exposure to change,” it added.

“Generative AI is ushering a transformative era that is reshaping ways of working across industries. While some traditional roles will evolve and even transition, we are seeing a surge in demand for specialists who can harness the power of AI to innovate, solve complex challenges and oversee responsible use of generative AI systems,” Communications, Media and Technology Industry Practices Chair, Accenture, Kathleen O’Reilly said.

“Organisations training people to collaborate with generative AI will gain a competitive advantage,” he added.

It pointed out that the new data on the impact of LLMs supplements and reinforces findings from the Forum’s Future of Jobs Report 2023, which found that up to a quarter of jobs were expected to change in the next five years from the combined impact of technology, the green transition and the geoeconomic outlook.
The paper argued that businesses and governments must take proactive steps to prepare for the effects of LLMs in the workforce, including by improving foresight, creating an adaptable workforce, implementing systems that facilitate job transitions and encouraging lifelong learning.

The Sustainable Development Impact Meetings 2023 are taking place on 18-22 September in New York.

The meetings would reflect on progress made on the United Nations Sustainable Development Goals and revive momentum for multistakeholder action.
More than 600 business leaders, policy-makers, leaders from international and civil society organizations, innovators and social entrepreneurs will come together in person to advance concrete progress on the SDGs.