Artificial Intelligence will revolutionize the job market by 2030: Crores of people will be affected!

Artificial intelligence (AI) and automation will significantly reshape the job market in Europe and the US by 2030. A recent study highlights that up to 30% of current working time can be automated, especially in roles that involve repetitive tasks. This change is expected to increase the demand for labor in STEM (science, technology, engineering and mathematics) and healthcare sectors.
Mckinsey has released its latest report, in which the study shows that AI is going to have a big impact on the job market in the coming years. One of the biggest impacts will be the need for job changes. An estimated 12 million people in both Europe and the US will reportedly need to change occupations or improve their skills. This points to the importance of reskilling and upskilling to prepare the workforce for new types of jobs in the future.
The report predicts an increase in demand for skills that are technological, social and emotional in nature. In contrast, routine tasks and low-paying jobs are likely to decline, increasing inequality in the job market. This means that while high-skill, high-paying jobs will become more popular, there may be fewer opportunities in traditional low-skill roles. Of course, if this happens, it could increase economic inequality.
Companies and governments will need to collaborate to deal with these challenges. Many groups are already planning to invest heavily in training programs to help their employees switch to new roles. In addition, the deployment of artificial intelligence can increase productivity and economic growth, but this will be possible only when the workforce is equipped with the necessary skills. In such a situation, people will have to constantly upgrade their skills in the coming years.