By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Private Banks RankingPrivate Banks Ranking
Notification Show More
Latest News
Here’s Why Buying a Chunk of America Can Be an Inflation Hedge
Here’s Why Buying a Chunk of America Can Be an Inflation Hedge
Finance
Economic development in Asia still faces many challenges, China minister says
Business
Consumers are starting to fire up China's economy, ETF experts find
Consumers are starting to fire up China’s economy, ETF experts find
Finance
Petronas says Malaysian anti-graft probe found no wrongdoing by the firm
Business
Banks may gain deposits amid debt-limit talks. But what happens next?
Banks may gain deposits amid debt-limit talks. But what happens next?
Banking
Aa
  • Finance
  • Business
  • Banking
  • Investing
  • ETFs
  • Mutual Fund
  • Personal Finance
  • 2022 RANKING
Reading: ‘The robots are coming’ for ‘your white collar job’
Share
Private Banks RankingPrivate Banks Ranking
Aa
  • Finance
  • Business
  • Banking
  • Investing
  • ETFs
  • Mutual Fund
  • Personal Finance
  • 2022 RANKING
Search
  • Finance
  • Business
  • Banking
  • Investing
  • ETFs
  • Mutual Fund
  • Personal Finance
  • 2022 RANKING
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Private Banks Ranking > Blog > Finance > ‘The robots are coming’ for ‘your white collar job’
Finance

‘The robots are coming’ for ‘your white collar job’

By Private Banks Ranking 7 days ago
Share
7 Min Read
'The robots are coming' for 'your white collar job'
SHARE

With many experts fearing A.I. developments could lead to more layoffs, there are questions and concerns being raised about what could be next for the U.S. labor force.

FOX Business’ “How America Works” host Mike Rowe issued a warning, Thursday, about A.I. developments and what it means for the white-collar worker.

“You can’t put your head in the sand, but you can’t panic either. It’s coming. You know, the robots are coming, the AI is coming,” Rowe said on “The Big Money Show” Thursday.

“People used to say that the robots are going to destroy skilled labor. Well, not really. I haven’t seen any plumbing robots. I haven’t seen any electrician robots. And I don’t think we’re going to see any artificial intelligence in the skilled trades to that degree. You can’t stop it. All you can do is decide to freak out completely or not.”

THESE JOBS ARE SAFE FROM THE AI REVOLUTION – FOR NOW

The rapid growth of A.I. has many industry experts trying to predict which job sectors will be most impacted as well as how many jobs could be replaced.

READ ON THE FOX BUSINESS APP

One AI expert, Ben Goertzel, predicted the tech could potentially replace 80% of jobs “in the next few years.”

Goertzel, the founder and chief executive officer of SingularityNET, told France’s AFP news agency at a summit in Brazil last week that a future like that could come to fruition with the introduction of systems like OpenAI’s ChatGPT.

Other studies have gone into further detail analyzing which jobs are most at risk for an A.I. takeover.

See also  US watching developments at First Republic, other banks - White House

A Goldman Sachs study found that several industries had relatively little exposure to automation by AI technologies, including cleaning; installation, maintenance and repair; construction and extraction; production; and transportation moving. Each had over half of their tasks viewed as not being automatable with AI largely serving as a complementary tool for the remainder of those tasks.

HINTON ISSUES ANOTHER AI WARNING: WORLD NEEDS TO FIND A WAY TO CONTROL ARTIFICIAL INTELLIGENCE

Generally, fields less exposed to AI-driven automation tend to involve manual and outdoor work or specialized knowledge.

The Goldman Sachs report found health care practitioners and support staff; fishing, farming, and forestry; personal care; and protective services had less than one-quarter of their tasks that weren’t exposed to AI-driven automation. Although each had at least a portion of their tasks that could be complemented by AI.

Mike Rowe Artificial Intelligence Jobs Economy

How America Works host Mike Rowe warns A.I. is coming and encourages workers to see the changes as an opportunity to chase a new career.

“I’ve been hearing for years that robots are going to wreck blue-collar work. Turns out AI is coming for your white-collar job,” Rowe said earlier on “America’s Newsroom.”

IBM CEO Arvind Krishna, for example, announced his company is going to pause hiring for certain jobs that could be replaced by AI.

“I do believe, and I’ve said this before, that A.I. is going to replace many clerical white-collar jobs, and that’s the kind which I expect A.I. will replace over the next five years,” CEO Arvind Krishna told FOX Business’ Liz Claman on “The Claman Countdown” earlier this month.

See also  Single family homes for rent are getting more expensive. Here's where prices are going up

But it’s “not as simple as jobs go away,” he added.

“The number of jobs, though, perhaps in customer care, in coding, in business process, in developing artificial intelligence is going to increase so much that the net increase is going to be positive while there’s a movement from one area to the other.”

Krishna had also told Bloomberg he predicts roughly 30% of non-customer-facing jobs being replaced by AI within the next five years.

ELON MUSK ON JOB FULFILLMENT IN AN AI WORLD: ‘HOW DO WE FIND MEANING IN LIFE IF AI CAN DO YOUR JOB BETTER?’

Rowe encouraged those white-collar workers not to panic but to, instead, consider this an opportunity to start a career in a booming industry.

“We can’t control what A.I. does. We can’t control a long list of things. But unless our country reinvigorates the trades and unless we start to get a better understanding of where the true opportunities are, why panic about losing your job to A.I. when you could retrain in six months in a career that’s exploding?” he said.

Rowe also added that moves like the one from IBM to pause hiring in certain fields can push people into skilled jobs. Though a stigma surrounding skilled trades exists, Rowe acknowledged, he said they are often the more rewarding roles.

“My foundation has trained nearly 1700 people in the skilled trades. Many of them are welders, many of those welders are making over six figures. No one believes it. No one talks about it because the stigmas are so clear that, oh, my kid winds up being a welder, it’s because he or she couldn’t cut it over here. That’s such nonsense,” he said.

See also  How Wells Fargo is deploying the White House's AI Bill of Rights

“For people who master a skill that’s in demand and watch their trajectory, you’re going to find they land at something that looks an awful lot like prosperity.”

CLICK HERE TO READ MORE ON FOX BUSINESS

Rowe also noted that changes due to A.I. provide workers with the “opportunity to remind yourself that you are not a product of what you do.”

“Job satisfaction is not a product of your job. It’s a product of who you are.”

FOX Business’ Julia Musto, Eric Revell and Daniella Genovese contributed to this report. 

You Might Also Like

Here’s Why Buying a Chunk of America Can Be an Inflation Hedge

Consumers are starting to fire up China’s economy, ETF experts find

The Alarming Retirement Mistake Too Many Americans Are Making

TSA PreCheck makes sense amid busy travel season if you can get it

Truss had it right – there’s only one way out of this mess

TAGGED: collar, Coming, Job, robots, White
Share this Article
Facebook Twitter Email Print
Share
Previous Article China’s exports to North Korea surge in April
Next Article Lawsuit over Trident ‘Original Flavor’ gum is dismissed
Leave a comment

Leave a Reply Cancel reply

You must be logged in to post a comment.

Private Banks RankingPrivate Banks Ranking
Follow US

© 2022 Private Banks Ranking- 85 Great Portland Street,W1W 7LT, London. All Rights Reserved.

  • Blog
  • Contact
  • Privacy Policy
  • Terms & Conditions
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?