AI is changing older workers’ careers, research finds
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Artificial intelligence has raised concerns that workers, especially young professionals, could be replaced by advancing technology.
But a study shows signs that older workers are also affected new paper Dr. from Boston College Center for Retirement Research.
Economics professor and author Geoffrey Sanzenbacher told CNBC that workers aged 55 and over are leaving their jobs more frequently in sectors exposed to artificial intelligence. He said these shifts were due equally to unemployment and voluntary reasons.
“This is a statistically significant effect,” Sanzenbacher said. “For some professions, it can be quite large.”
3 ways AI could impact the careers of older workers
According to Sanzenbacher’s research, AI may impact the length of older workers’ careers in three ways.
Sanzenbacher found that automation could displace older workers, causing them to either become unemployed or leave the workforce altogether.
Or the pressure to adopt AI may lead some employees to either seek jobs that do not involve these new developments or retire altogether.
Alternatively, generative AI could allow people to work longer as productivity increases, increasing wages and allowing workers to focus on engaging tasks, according to Sanzenbacher.
The research defines exposure to AI as depending on the extent to which AI can be used to perform the tasks of a profession. It draws on data and information from the Current Population Survey on AI exposure from Tufts University’s Digital Planet initiative, which examines the impact of digital innovations.
The research found that before the launch of OpenAI’s ChatGPT, older workers in AI-exposed roles They were significantly less likely to quit their jobs. However, after the introduction of ChatGPT, they were slightly more likely to leave a job, including moving into unemployment.
Artificial Intelligence could narrow differences in career lengths
Older workers who are more susceptible to AI changes tend to be white, are more likely to have a college degree, and tend to earn higher earnings compared to workers with lower exposure to AI, according to Sanzenbacher’s research.
According to research based on Digital Planet’s AI exposure scores, here are the five careers with the highest AI exposure and therefore more susceptible to changes:
- Web and digital interface designers
- web developers
- Database architects
- computer programmers
- data scientists
The five careers with the least exposure to AI are:
- Digging and loading operations and mine workers
- Roof bolts and mine workers
- servants
- Painting and spraying workers
- Fiberglass laminators and fabricators
This challenges the perception that older workers in physically demanding jobs may have shorter career trajectories and therefore retire earlier than highly educated white-collar workers.
“Exposure to artificial intelligence may reduce the career tenure gap between low- and high-paying jobs,” Sanzenbacher wrote in the study.
As a result, according to the research, policy makers should keep in mind the potential effects of artificial intelligence when evaluating possible changes in retirement age.
High-income workers may face Social Security cuts
New estimates show the trust fund that Social Security relies on to help pay retirement benefits could run out as soon as late 2032, according to the latest data annual report from the program’s board of trustees.
To restore Social Security’s solvency, policymakers can choose from a variety of possible changes, including raising the retirement age. When the last major reforms to the program were enacted in 1983, lawmakers opted to gradually raise the retirement age from 65 to 67.
Raising the age threshold may be considered in upcoming reforms, but some experts suggest the change will not be a short-term solution. Policymakers may also opt to raise payroll taxes on high-income earners, a popular proposal among Democratic lawmakers.
“No matter what happens next with Social Security, higher-income people are likely to see a larger benefit cut than lower-income people,” Sanzenbacher said.
“These are people who therefore need to work longer hours,” he said.
Sanzenbacher, meanwhile, said that depending on how AI’s effects on the workforce play out, those same workers’ ability to do their jobs could also be affected.
What can older workers do to keep up?
Older workers are adopting AI, but not as often as younger workers, Sanzenbacher said.
Latest AARP survey found that employees see artificial intelligence as both a threat and an opportunity. Of the 1,015 adults aged 50 and over who participated in the survey, 24% said they saw AI as a threat to their business, while 19% said they saw it as an opportunity. Meanwhile, 37% said both, based on responses given in March.
To separate research Experienced professionals are more likely to take on roles insulated from disruptions caused by productive AI, AARP and LinkedIn found, with 49.4% of older workers compared to 42.2% of younger workers.
Older workers’ jobs are more likely to require skills that AI can’t easily replicate, such as collaboration, judgment and leadership, according to the research.
It’s not too late for older professionals who haven’t yet started using AI, Monster’s career expert Vicki Salemi told CNBC.com via email.
Monster’s December WorkWatch report It found that 42% of 1,504 employees surveyed had never used AI. Monster found that the most popular apps among employees who use it include basic tasks like email, scheduling, and writing support. Others use it for advanced tasks like coding, automation, or data analysis; job applications, including resumes and cover letters; According to the research, creative works such as graphics, campaigns and content.
Salemi said older workers may want to take a two-pronged approach to adapting to today’s workforce: Becoming AI-savvy while also doubling down on soft skills.
A good place to start, he said, might be to learn about the AI tools your employer is already using, which can help you maximize your time for deeper thinking.
At the same time, whether you’re aiming to stand out in your current role or the job you’re applying for, remember to emphasize soft skills like communication, relationship building, and problem solving.
“When you show that you have strong social skills and the ability to evolve and grow with new technology, that could be a green light for your candidacy,” Salemi said.
