But don’t panic, experts and research say you'll likely change to a better job.

Are you ready to see Dr. Bot and robot lawyers? Alan Crowetz says you will by 2026.

Crowetz, who’s spent nearly three decades as the CEO of a South Florida-based IT firm, has a unique outlook on the future of AI.

“If you talk to a typical doctor, they’ll say no computer is going to be better – it doesn’t have the experience or human touch,” Crowetz tells Debt.com. “Studies show left and right, things that doctors couldn’t solve – or weren’t accurate – the AI is better at. And it’s in its infancy.”

And it’s in the infancy of its breathless media coverage.

In 2017, PBS reported “Are robots coming for your blue-collar jobs?” Five years later, the New York Times published the story “In reversal because of AI, office jobs are now more at risk.”

There’s a big difference between automation in the former, and AI in the latter.

Think of it as Arnold Schwarzenegger in the movie “The Terminator” compared to Robert Patrick, the T1000, in “Terminator 2: Judgment Day.” Machines have evolved. They’re now capable of thinking more than simply doing.

Terminator or not, people are confused about what to make of it. They may not know the difference between automation and AI, but two recent polls show they know their careers will change:

  • One says most feel AI will “create more demand for their skills.”[1]
  • The other concludes 3 in 4 “believe increased automation will lead to higher unemployment by taking jobs away from humans.”[2]

How can both be true? The answer is simple: New technology always fascinates the imaginative with its endless possibilities, and shocks technophobes into fear that mankind as we know it is doomed.

But don’t sweat, experts and studies say your job is more likely to change more than disappear by 2030. Here’s a look at how over the next three, five, and seven years.

AI in three years

When people refer to AI, they’re talking about a computer program that scrapes massive amounts of data from the Internet to make decisions. Imagine the research a person can do, but a billion times faster.

That program Crowetz relates to an engine of a car. He predicts the technology will soon be customized to different industries like vehicle makes and models. There’s already AI that files tax returns and fights traffic tickets.

Here are two ways AI will directly impact current jobs…

  • There will be a big “weeding out” phase, putting people out of work.
  • Those left in jobs will have the ability to do the work of 20 people.

“You’ll see more industry-specific AI programs in two to three years,” Crowetz says. “It’s going to get rid of a lot of junior accountants and paralegals. If you own a CPA or law firm, you’ll love it. You can cut half your staff and have a more effective product.”

AI in five years

Multiple studies point to the level of jobs lost and new ones created could equal a net profit. The World Economic Forum says AI will “create at least 12 million more jobs than it destroys.”[3]

You can think of it as a shift in the work we do today, says a report from tech company ServiceNow.[4] The takeaway from its research: AI can liberate people trapped in mundane, task-oriented jobs.

“The data shows that as automation eliminates repetitive tasks, the pendulum will swing toward the distinctly human skills of communication, creativity, and analytical thinking,” the report says. “Simply put, the more we allow machines to do the kinds of things they’re good at, the less humans will have to behave like machines.”

And in seven years…

So once the “weeding out” phase is over and the technologies are in-place, where does the workforce stand in the next decade? One newly released study tackled that idea.

Technology company Multiverse polled 1,000 business owners from the US to the UK shows most will use AI to grow by 2030.[5] The title of its study was “AI will create more jobs than it replaces.”

Here are the top three things business owners say they’ll do now…

  • 73% are likely to reskill employees into new roles,
  • 76% of leaders say they are likely to invest in upskilling existing employees, and
  • 77% say they plan to increase training and development budgets to prepare for 2030.

“The skills gaps business leaders expect to face in 2030 highlight the importance of training that keeps pace with technology,” said Gary Eimerman, Chief Learning Officer at Multiverse. “Both their bottom lines and the longevity of their staff’s careers will be negatively impacted if businesses don’t prioritize closing the AI skills gaps in a timely manner.”

Why fear the future when you can embrace it?

AI is less than a year old. During a 40-minute call with Crowetz, he toggled between a potential grim existence of a world where most couldn’t earn a dollar to aweing at the possibilities people can explore.

Right now, the future of AI is based more on speculation than science. And fear of technology is nothing new. In 1933, people feared standing next to a telephone during a thunderstorm. Fifty years later, the term “computerphobia” was coined.

One thing Crowetz can say looking back on his 30-year career as a cybersecurity specialist: Technology only made quality of life a little more convenient.

“The first time you could order a pizza online, people thought it was the most amazing thing ever,” Crowetz says. “The Internet was so primitive once and the things we’re doing now are mind-blowingly more advanced. The same thing is going to happen with AI.”

Unsure how AI will affect your livelihood? Take proactive steps. Get out of debt now and secure emergency savings. You can start by calling Debt.com (844) 384-6006 for a FREE debt analysis. Our expert counselors can set you up with a debt relief plan tailored to your situation. 

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About the Author

Joe Pye

Joe Pye

Joe Pye is the managing editor of Debt.com and an AFC® Accredited Financial Counselor, by the AFCPE. Pye began writing about debt and personal finance while attending Florida Atlantic University, where he served as Editor-in-Chief of the student-run newspaper and graduated with a bachelor’s degree in multimedia journalism. In his spare time, he runs BrowardBeer.com, South Florida’s only journalistic (and journalism award-winning) craft beer blog. Pye’s work has been featured on MSN, Mediafeed, Miami New Times, Fort Lauderdale Illustrated, and Aventura Magazine.

Published by Debt.com, LLC