As per a new report by the McKinsey Global Institute, by the end of the decade, women are more likely to lose their jobs than men because of the rise of AI and automation. The report published on Wednesday traced out that nearly a third of hours worked in the US would become automated by 2030. Food services, customer service, sales, office support, etc are some of the industries that are expected to shrink just because of automation. Women are seen to be overrepresented in these industrial sectors and they are doing more low-paying jobs when compared to men. The report finds that women are going to be affected more by this AI wave.
McKinsey & Co. examines US labor-market trends and says that Black and Hispanic workers, workers without college degrees, and the youngest and oldest workers are some of the groups who are under the threat of losing their jobs by 2030. The chance of women moving into a new occupation is 1.5 times more than men. The McKinsey Global Institute said, advances in artificial intelligence will make some jobs shrink, but it also can have some positive effects on existing jobs and create new work opportunities.
White-collar workers find their technical tasks easy with AI and automation. Automation excels in saving time so that these workers could spend more time on creative work that artificial intelligence may not be able to do. Lawyers and civil engineers benefit the most from the advancement of AI. But these fields are male-dominated which frees men from the fear of losing jobs. Female workers who are about to switch jobs as their sectors are on the verge of shrinking, need to acquire new skills before they can move into new industries. If the switching of jobs by women because of automation is handled correctly, it can result in an increase in US productivity and prosperity, according to the institute.
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