This sudden boom in AI is having serious repercussions on job market – both positive and negative. While on the flip-side AI is automating most of routine and repetitive tasks which results in loss of jobs mainly from all those sectors where manual or administration work was involved. It is worth noting that on the way companies are already implementing such AI technologies, which has led to layoffs of employees in many sectors of economy. This trend has led to alarm about what will become of all those legacy jobs and the workers without tech skills who may struggle with finding new roles.

But then, the coming in of AI boom also opens up potential for job creation in newer areas. These activities of AI in developing, maintenance and on extensive use requires special skills leading to the requirement being heated for data scientists. As AI technology evolves, new roles and industries are likely to emerge, potentially offsetting the job losses caused by automation.

The key challenge lies in managing this transition. Workforce retraining and education will be crucial in helping displaced workers adapt to new opportunities. Policymakers and businesses must collaborate to create inclusive strategies that ensure the benefits of AI are widely shared, minimizing the negative impacts on employment while maximizing the potential for innovation and growth in the job market.