AI to Impact 25% of Workers in Hong Kong by 2028, Research Shows

Revealed: 15 June 2023, 1:00 pm Up to date: 15 Jun 2023, 9:35 am

Round 1 / 4 of Hong Kong’s workforce will face unemployment or profession modifications by 2028 as a result of rise of synthetic intelligence, SCMP cited a research by recruitment agency Venturenix. The report emphasizes that information entry clerks, administrative employees, and customer support representatives will likely be most affected by the fast shift to digitalization, ensuing within the elimination of their jobs. 

Hong Kong’s employment realm, which can additionally replicate the worldwide situation, stands on the point of vital transformation, urging people to organize for an unsure future, embrace rising applied sciences, and search new skilled alternatives.

Based on the Hong Kong Wage Information 2023, AI-driven applied sciences will influence roughly 800,000 staff, equal to 1 / 4 of the town’s whole workforce.

The report additionally highlights the robust affect of AI on numerous industries, like attorneys and translators. “Illustrators and content material creators are additionally extra possible to get replaced,” it added.

The widespread adoption of ChatGPT and different generative AI applied sciences has heightened fears of intensive job losses, as they’ll automate duties that had been beforehand carried out by people. Venturenix wrote that quite a few Hong Kong corporations at the moment are urging staff in non-IT roles to amass proficiency in utilizing ChatGPT. The findings additionally reveal a major shortage of IT professionals in Hong Kong.

KPMG Govt Search and Recruitment Providers reported in March that Hong Kong’s authorities invested HKD 3 billion in rising know-how fields, akin to AI and quantum know-how.

The current report by McKinsey exhibits that generative AI may add as much as $4.4 trillion yearly throughout 63 use instances in numerous sectors. AI may even automate duties that require creativity and communication, akin to writing, composing, and designing. It may pace up the automation of labor, affecting even extremely educated staff. The report means that generative AI may automate half of all work between 2035 and 2060, relying on the adoption and implementation tempo. That is sooner than earlier predictions that estimated this milestone to be achieved between 2035 and 2075. This acceleration of labor implies that generative AI may disrupt the labor market and create new talent gaps. McKinsey’s report urges staff, employers, and educators to organize for this shift by investing in lifelong studying and reskilling.

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