Report Highlights Business Analysts, Accountants, and Psychologists at Higher Risk of Job Displacement Due to AI

The finance and insurance sector emerges as the most AI-exposed industry, surpassing others in terms of vulnerability.

A recent report has highlighted the susceptibility of professional occupations, particularly those in clerical roles across finance, legal, and business management, to the influence of artificial intelligence (AI) and large language models. The UK Department of Education compiled a comprehensive list, revealing that professions such as management consultants, business analysts, accountants, psychologists, and those in teaching exhibit a higher exposure to AI, specifically emphasizing the application of large language models.

The finance and insurance sector emerges as the most AI-exposed industry, surpassing others in terms of vulnerability. Other sectors significantly impacted by AI include information and communication, professional, scientific and technical fields, property, public administration and defense, and education.

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The methodology employed by the government agency involved analyzing 365 distinct professions, evaluating their occupational and worker characteristics, and comparing them against ten prominent AI applications. This analysis aimed to determine the potential for automation within these roles.

The Education Department highlighted, "The occupations most exposed to AI include more professional occupations, particularly those associated with more clerical work and across finance, law, and business management roles."

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Among the professionals most at risk of being replaced by AI are purchasing managers and directors, ranking fifth on the list, followed by economists and statisticians at sixth place. Occupations involving finance and investment analysts, legal professionals, and supporting roles in "business and associated associate" secured the eighth, ninth, and tenth positions, respectively.

The report also identifies education advisers, human resource administrators, bookkeepers, payroll managers, administrative government officials, and marketing associates as occupations within the top 10 to 20 most vulnerable to AI takeover.

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To arrive at these findings, the UK Department of Education conducted a thorough examination of generative AI models like OpenAI's ChatGPT and Google's Bard. Additionally, other large language models, talk-to-text applications, and image recognition AI were scrutinized to provide a comprehensive understanding of the potential impact of AI across various professional domains.

(With Agency Inputs)

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