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AI likely to cause job loss for business analysts, accountants, psychologists: Report

AI likely to cause job loss for business analysts, accountants, psychologists: Report

London: Large language models and artificial intelligence (AI) are expected to have a significant impact on professional jobs, especially those involving more clerical work and those in the legal, finance, and business management domains, according to a recent report.

According to the list compiled by the UK Department of Education, management consultants and business analysts, accountants, and psychologists as well as teaching occupations, showed higher exposure to AI, where the application of large language models is particularly relevant.

The finance & insurance sector is more exposed to AI than any other sector.

The other sectors most exposed to AI are information & communication, professional, scientific & technical, property, public administration & defence, and education, the report noted.

The government agency stated that it employed a methodology that analysed 365 distinct professions and their respective occupational and worker characteristics and compared them to 10 of the most prominent AI applications to determine whether the roles may be automated by AI.

"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," the Education Department said.

Professionals working as purchasing managers and directors were the fifth most likely to be replaced by AI, with economists and statisticians ranking sixth on the list.

A wide range of jobs involving finance and investment analysts, legal professionals and even “business and associated associate” supporting roles made the list at eighth, ninth and tenth places, respectively.

According to the report, education advisers, human resource administrators, bookkeepers, and payroll managers, as well as administrative government officials and marketing associates, are among the top 10 to 20 occupations most vulnerable to AI takeover.

To reach its results, the UK Department of Education stated that it examined generative AI models such as OpenAI's ChatGPT and Google's Bard, as well as other large language models, talk-to-text applications, and image recognition AI.

With inputs from IANS

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