AI threatens 3.9 million jobs South Korean- Central bank

According to a central bank report released on Thursday, almost four million employments in South Korea could be displaced by artificial intelligence technology in the next 20 years.

The world is concerned about a number of issues as a result of the rapidly developing AI technology, including cyberattacks, job losses, and humans losing control over the systems they have created.

According to a recent Bank of Korea report, the growing domestic adoption of AI is expected to jeopardize almost 3.9 million employments in South Korea, with the most vulnerable industries being healthcare, law, accounting, and chemistry.

As to the study, professionals with higher academic backgrounds and higher incomes are more vulnerable to AI and have a higher chance of being replaced.

It went on to say that these white-collar jobs were most at risk since AI could readily perform their analytical and cognitive functions.

The survey found that workers in the education, food service, and religious sectors were the least likely to lose their jobs as a result of technological advancements.

While AI technology poses a danger to current employment, the Bank of Korea report pointed out that it also opens up new career prospects, such as for engineers who design and maintain AI systems and at AI-related start-ups.

However, it also stated that “some workers may experience difficulties in the job transition process prompted by the introduction of AI” because the new employment are “concentrated” in a single field.

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AFP