Fastest Declining Jobs 2024 – AI Causing Massive Job Cuts Worldwide

The landscape of employment is undergoing a drastic transformation, primarily driven by advancements in artificial intelligence and automation. The World Economic Forum’s Future of Jobs Report sheds light on this changing dynamic, highlighting the jobs that are rapidly declining. This shift is a global phenomenon, affecting both developed and emerging economies, with millions of workers facing the reality of job displacement.

By 2027, it is projected that around 14 million jobs could be lost due to automation and artificial intelligence. This significant figure underscores the impact of technological advancements on the global job market, particularly in sectors where tasks can be automated or digitized.

Top 10 Declining Jobs Projected to Cut 14 Million Jobs by 2024-2027

The following 10 professions are increasingly affected by automation and AI, and it is anticipated that they will face even more significant job cuts in the coming years, particularly in countries that are rapidly adopting these technologies:

1. Bank Tellers and Related Clerks: With the rise of online banking, the need for physical bank tellers is diminishing.
2. Postal Service Clerks: Digital communication methods are significantly reducing the need for traditional mail services.
3. Cashiers and Ticket Clerks: Automated checkout systems and online booking platforms are replacing these roles.
4. Data Entry Clerks: AI and software automation are taking over repetitive data entry tasks.
5. Administrative and Executive Secretaries: Automation of administrative tasks is leading to a decrease in demand for these roles.
6. Material-Recording and Stock-Keeping Clerks: Inventory management technologies are making these positions redundant.
7. Accounting, Bookkeeping, and Payroll Clerks: Financial software is increasingly capable of handling these tasks.
8. Legislators and Officials: Although not directly replaced by AI, there is a shift in the nature of these roles due to technological influences.
9. Statistical, Finance, and Insurance Clerks: Advanced analytics tools are taking over many of these functions.
10. Door-to-Door Sales Workers, News and Street Vendors: E-commerce and digital platforms are drastically reducing the need for these roles.

Countries Most Affected by AI-Driven Job Decline

1# Developed Economies:

• • USA: Experiencing a 15% job loss rate, with sectors like retail and finance being majorly impacted.
  • Germany: With a 12% job loss rate, the manufacturing sector is undergoing significant automation.
  • Japan: A 10% job loss rate, driven by technological advancement and an aging population.

2# Emerging Economies:

• • China: An 8% job loss rate, translating to 100 million affected workers, primarily in manufacturing and logistics.
  • India: Facing a 6% job loss rate, with challenges in administrative and customer service sectors.

What shall you do if you have these affected Occupations?

If your career is within one of the declining professions due to AI and automation, it’s imperative to act now and leverage your existing qualifications and experience. Your knowledge can be invaluable in assisting industries and organizations to transition smoothly into the digital era. Remember, even in an AI-driven world, there’s a significant need for human insight and management.

By acquiring additional qualifications in AI and related technologies, you position yourself as an indispensable part of the evolving workforce. This strategic approach not only enhances your current skill set but also greatly reduces the likelihood of your job being supplanted by AI, ensuring your continued relevance and employability in the future job market.