AI Could Transform Jobs, Overall Economic Growth by 2030: World Economic Forum

New Delhi: Artificial Intelligence (AI) is expected to bring major changes to jobs across the world by 2030, according to a new World Economic Forum (WEF) white paper released this month. The report says the impact could vary widely, from a major rise in productivity to large-scale job losses, depending on how fast AI improves and how prepared workers and businesses are.

The paper, titled ‘Four Futures for Jobs in the New Economy: AI and Talent in 2030’ said, “It presents four possible scenarios that explain how AI could transform jobs, business value chains, and overall economic growth. The report is based on insights from the Forum’s Chief Strategy Officers Community and global experts who study long-term trends.”

Survey data mentioned in the report shows that business leaders are unsure about what the future will look like. Around 54% of executives globally believe AI will replace existing jobs, while only 24% think it will create new ones. The report also points out a possible gap between profits and worker benefits. While nearly 45% expect AI to improve profit margins, only 12% believe it will lead to higher wages, meaning the benefits of productivity may not be shared equally.

The WEF highlights that technology alone will not decide what happens next. It stresses that actions taken today, such as investing in people and skills, will shape the outcomes.

The report said, “The future of workplaces and value chains will not be defined by technologies alone. Human capital strategies and investments prioritised today will determine how well societies and individual businesses can adapt to, and lead in, the new economy.”

The four scenarios range from ‘Supercharged Progress’, where new occupations grow rapidly, to ‘The Age of Displacement’, where automation grows faster than reskilling, causing unemployment and instability. Two other outcomes include the ‘Co-Pilot Economy’ and ‘Stalled Progress’.