82% of professionals worried about job security due to technology: Report

A significant 82% of working professionals are worried about potential job loss due to emerging technologies, reveals a new report by Hero Vired, a learning tech startup from the Hero Group. The study surveyed two lakh individuals, including students and working professionals to reach the conclusion. 

Despite these worries, the report shows that 78% of professionals see upskilling as a way to adapt to the changing job market. This indicates a growing understanding of the importance of continuous learning to stay relevant in their careers. 

The report also looks into the role of Artificial Intelligence (AI) in shaping careers. It found that 39% of respondents believe that knowledge of AI significantly impacts career growth, but 43% express dissatisfaction with the lack of AI training provided by their employers. This points to a gap between the perceived importance of AI skills and the actual training provided. 

Akshay Munjal, Founder and CEO of Hero Vired, commented on the findings, saying, “The report captures the concerns of professionals in a dynamic job landscape, emphasizing the need to upskill to address these challenges.” 

The report discusses the rise of generative AI, citing the launch of ChatGPT in late 2022. Notably, 90% of respondents predict AI to be the most in-demand skill in the next five years, with 80% anticipating it to be the highest-paying job. 

In terms of upskilling, the report notes that 43.5% of working professionals aged 18-55 feel the need to upskill every six months. Additionally, 83% believe that upskilling, especially in AI, will improve their job opportunities. The popularity of online courses is on the rise, with 81% of those who upskilled last year opting for online learning. 

The report identifies the top three non-tech jobs expected to be in high demand: digital marketing, green jobs, and mental health coaching. This suggests a broader recognition of the changing skills needed across various sectors. 

Addressing concerns about career breaks, the report shows that upskilling plays a vital role in helping individuals, especially women, re-enter the workforce. Despite challenges and stereotypes, 75% of women who upskilled found it easier to get back to work after a career break. 

As per a report by ResumeBuilder published on December 8, which surveyed 750 business leaders utilizing AI, 37% indicated that the technology replaced workers in 2023. Simultaneously, 44% anticipate layoffs in 2024 due to the efficiency brought about by AI. 

Earlier, a Business Insider report, initially credited to a monthly release from Challenger, Gray, and Christmas, disclosed that approximately 4,000 individuals lost their jobs to artificial intelligence in May.