OpenAI CEO Sam Altman on AI's Impact on Jobs: Adapt or Be Replaced

Concerns about artificial intelligence (AI) taking over human jobs are widespread, with varied opinions on its potential impact. Leaders in the tech industry, including OpenAI CEO Sam Altman, suggest that AI won't replace jobs, but rather, those proficient in using AI will replace those who aren't. Altman emphasized that students worried about AI should focus on mastering the technology, as future jobs will evolve but work will always be available.

Supporting Altman's view, a study by Indeed found that among 2,800 job skills assessed, none are immediately at risk of being massively replaced by AI. The study revealed that 69% of skills have a "very low" or "low" possibility of being replaced by generative AI, while about 29% might be replaced in the future. Notably, no skill was deemed "very likely" to be taken over by AI.

Jobs requiring physical and manual skills, such as cooking, are less likely to be replaced by AI. In contrast, roles in marketing, advertising, software development, healthcare administrative support, insurance claims, and recruiting have over a 50% chance of being partially replaced by AI. This highlights the importance of continuous skill enhancement and learning among human workers. Accounting faces the highest risk, with nearly 78% of its skills potentially being replaced by generative AI.

Indeed's Chief Economist Svenja Gudell noted that while upskilling is beneficial, it is not a "magic solution." Technological advancements mean some people might still lose their jobs and must learn to use new tools, which can be challenging.

Contrastingly, Silicon Valley investor Vinod Khosla recently warned that AI could eventually perform 80% of job types and handle 80% of tasks within these roles, suggesting that upskilling alone might not suffice to prevent unemployment.

Despite fears about AI's impact on the job market, many are diving deep into understanding the technology, as Altman recommends.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.