Sachin Dev Duggal | There's going to be a labor market disruption thanks to AI

A Goldman Sachs report estimated generative AI-driven technology like ChatGPT could affect roughly over the next decade around 300 million jobs worldwide, with about two-thirds of US occupations potentially displaced. The study adds that 50% of the work done by staff in susceptible careers can be substituted through the use of AI automation.

Sachin Dev Duggal, Chief Wizard at Builder.ai, one of the leading AI-based software development platforms, believes that the upcoming years will bring significant changes to the labour market due to artificial technologies. "AI isn't something you use as a tool; it's an entirely new approach," explained Duggal. "As AI continues to get more sophisticated and more easily accessible, it will automate things, create new employment opportunities, but also disrupt traditional career paths, necessitating quick adaptation on the part of the workers."

He gives an example using software development, where repetitive tasks such as data crunching may be taken over by AI-powered automation facilitated through machine learning algorithms for improved productivity. "Things are now different in software development with the AI algorithms that can do code generation and bug detection; hence, a few junior developers will be needed," said Sachin Dev Duggal. "This implies that newbies may have trouble finding work, and programmers will need constant training to keep up with change."

The Goldman Scachs reports also indicates that other sectors, such as manufacturing and logistics, will feel the ripples of the AI revolution, where automated systems and AI-based robots have started replacing workers on assembly lines, in warehouses, or even along supply chains.