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Majority of millennials fear AI will put their salaries in jeopardy

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The AI revolution and its impact on workers

Artificial intelligence (AI) is rapidly becoming a reality in today’s workplaces. While investors believe this revolution is a good thing, many employees, especially millennials, are anxious about its impact on their careers. According to a new survey conducted by HR platform Checkr, 82% of millennial workers are concerned that AI will lead to lower pay for the same position, compared to 78% of all respondents.

Checkr’s survey involved 3,000 US employees ranging from different generations, and the anxiety among millennials was singled out as a potential threat to their future employment. Sara Korolevich, the head of digital content at Checkr, said that the oldest millennials have at least another twenty years of employment in front of them, leaving them vulnerable to the changes AI could bring about.

The impact of AI on jobs

As AI becomes more prominent in workplaces, concerns about its impact on jobs are also on the rise. The question remains: will AI create jobs or take them away? At the recent Senate Judiciary Committee hearing on Artificial Intelligence, Sam Altman, the CEO of ChatGPT-maker OpenAI, said that he expects AI to have a significant impact on jobs. However, he also stated that exactly what that impact will look like is difficult to predict, and he believes that new jobs will emerge alongside the loss of some existing jobs.

The fear of AI and retraining costs

Checkr’s survey also revealed that millennials are not only concerned about AI’s impact on their pay and future employment, but they also feel compelled to take action to prepare for its arrival. 77% of millennials surveyed said they are willing to spend their own money to learn AI to avoid being replaced.

Conclusion

The rise of AI is a double-edged sword; it presents opportunities for innovation and growth but also raises concerns about potential job losses and the need for retraining. As more industries incorporate AI into their operations, it’s crucial to address these concerns in a proactive and collaborative way to ensure the technology benefits both businesses and workers.

FAQs

What is AI?

AI is a branch of computer science that emphasizes the development of machines that can perform tasks typically requiring human intelligence.

What are the benefits of AI?

AI can improve efficiency, accuracy, and productivity while reducing costs. It can also help solve complex problems and provide new insights into data.

What are the risks of AI?

AI can potentially lead to job losses, reduce human control over decision-making, and pose ethical and privacy concerns.

What can workers do to prepare for the impact of AI on their careers?

Workers can invest in retraining or upskilling programs to acquire the skills and knowledge needed to work alongside AI. They can also stay informed about industry trends and developments related to AI to identify potential job opportunities.

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