The 40 Jobs Most at Risk from AI: What it Means for Your Business

Microsoft recently released a report on the 40 jobs most at risk from AI, as well as the 40 considered safest. Data for the report was compiled from customer usage of CoPilot, Microsoft’s AI assistant, and looked at the tasks it had been given. The report writers then looked at common professions to see which roles performed the same tasks.

Predictably, these results have caused a minor stir among those vocations listed as at risk.

While many will dismiss these findings as something to potentially worry about in the distant future though, it’s also worth noting how quickly we’ve seen AI technology develop in just the last five years.

So, is this just scaremongering clickbait, or something that businesses should genuinely be considering as part of their decision making?

History points the way

As restructuring and exit strategy specialists, we think that business owners would be well-served by keeping a watchful eye on reports such as these. History is littered with businesses that have fallen as a result of failing to adapt, and you don’t have to go too far back to find them.

The rise of the internet put paid to thousands of businesses that refused to believe it was set to revolutionise our lives.

Blockbuster is an obvious example of a company caught with its head buried in the sand. Once a market leader, if it had used its resources to launch a streaming service while it had the resources, it may have had a shot of ousting Netflix as the go-to streaming platform.

Even now, the UK high street still sees retail casualties that failed to see online shopping as a threat, with many now realising that their sprawling premises and high rents have become an albatross around their necks.

The internet was easy to dismiss when barely anybody had access and all it offered was cartoons of dancing badgers that took 10 minutes to load. Its vast potential was always there, though, and those that were able to look beyond its original limitations were able to capitalise on it.

Similarly, we shouldn’t dismiss AI now as merely something that creates pictures with seven-fingered hands. It has just as much potential to change our everyday lives as the internet did, perhaps more.

So, what should business owners do?

Look at what AI can do now. If it can be done well now, it will be done fantastically well very soon. Even the tasks it currently struggles with will likely be done perfectly well within a few years. Now look at your business and ask yourself if it deals with any of the same tasks.

If so, it might be worth considering how the same process might conceivably look in five or ten years from now. Should that vision not include your company as it stands now, then its time to start changing your processes.

Look at the Blockbuster example. Are you able to launch an adjacent service to futureproof yourself?

It may be that your entire industry looks set to be rocked by AI. For example, could stock imagery businesses become obsolete now that AI can conjure up any image that you’re able to describe?

In such cases, owners should either have an exit strategy in hand, or a more secure sector to pivot into. It’s almost always better to get out at the top rather than become a limping anachronism, such as Blockbuster found itself in a world of streaming.

Hiring issues

It doesn’t take too much effort to imagine AI making some of the professions on Microsoft’s list virtually obsolete within as little as five years. Translators/interpreters in particular, may need to have a backup plan ready.

With this in mind, companies may need to start filling such positions with candidates with multiple skillsets. Taking on a translator with a part-time passion for coding, for example, may settle the nerves of directors hoping to pivot the roles of certain staff members in the future. Of course, this may need discussing at the time of interview, lest the candidate be loath to change their duties further down the line.

Given this need for flexibility, recruiters may end up focusing on younger candidates that aren’t quite as settled in a specialist career as their older peers. Otherwise, fixed-term contracts may be the order of the day, with rolling contracts that provide security for businesses should AI become the better economic option.

Which jobs are most at risk from AI?

A reverse-industrial revolution?

Microsoft’s report shows a fairly clear distinction between both lists, and that’s in one being primarily office based, and the other comprising mostly of manual labour.

This is in contrast to the industrial revolution, which saw manual workers replaced with machinery, and employees valued more for their knowledge. Microsoft’s report now suggests that we could be on the precipice of a similar workplace revolution, one in which knowledge becomes the easily replaceable commodity, and manual skills are valued much more.

This would have further implications when it comes to the average age of the nation’s workforce and retirement. When it comes to tasks such as roofing and laying rail track, it’s difficult to envisage too many workers closing in on 70 years old relishing the toil required.

It is worth noting, however, that this report was created using queries asked of their CoPilot platform, and while it seems far from impossible for an AI-powered machine to sand a floor, it also isn’t something someone would ask CoPilot to do for them right now.

An AI revolution is coming; make sure you’re ready for it

If you suspect that your sector might be heading for a sea change, it’s worth getting ahead of the situation now. With the proper strategic planning in place, you can quickly revert to a plan B or even C, should external forces change suddenly.

At Forbes Burton, we’re able to help with restructuring plans, strategise the best way to exit, or even find a buyer for your business.

Call today on 0800 975 0380 or email advice@forbesburton.com for a free consultation with one of our expert advisers and find out how we can help business owners navigate an uncertain future.