AI & ML specialists top of list of fastest growing job roles

• The demand for AI & ML specialists is anticipated to grow by 40%, resulting in the creation of around a million jobs.
  
• The green transition has the potential to create 30 million jobs worldwide by 2030.
  
• The education industry is predicted to create 3 million new positions for vocational education, university and higher education teachers.

As the world prepares for a technological disruption, it would result in job losses. But this sector also contributes to employment growth with some of the fastest growing job roles.

The demand for AI and machine learning (ML) specialists will grow at the fastest rate in the next five years, as per a report by the World Economic Forum. They are followed by sustainability specialists, business intelligence analysts and information security analysts, says WEF’s Future of Jobs Report 2023.

The report's conclusions are based on a survey of the biggest global employers regarding their projections for job trends and directions between 2023 and 2027. Overall 69 million jobs are expected to be created in the next five years.

As industries continue to transform through the increased usage of AI and machine learning, the demand for AI and ML specialists is anticipated to grow by 40%, resulting in the creation of around a million jobs.

The rise of data-driven decision-making across industries is driving a 30-35% increase in demand (1.4 million) for roles such as data analysts and scientists, big data specialists, business intelligence analysts, database and network professionals, and data engineers. This growth is due to advances and growth in adoption of frontier technologies which rely heavily on big data, the report says.

Rapid growth of green jobs across sectors

The shift towards renewable energy has also contributed to relatively fast-growing roles such as renewable energy engineers and solar energy installation and system engineers.

“To meet the goals of the Paris Agreement – a pledge to keep global temperature rises below 2ºC and pursue efforts to limit them to 1.5ºC – large scale global action towards a green transition is ongoing and expected to accelerate. While transitioning to a green economy will disrupt labour markets over the next decade it will also create significant new job opportunities,” says the report.

The report indicates that investments in the green transition, broader implementation of environmental, social, and governance (ESG) standards, and climate-change adaptation are anticipated to have strong positive impacts on job creation.

Further analysis of the data reveals that job creation will be particularly significant in the energy and materials and infrastructure sectors, with roughly 10% more companies expecting job creation as a result of these effects. The roles of sustainability specialists and environmental protection professionals are predicted to increase by 33% and 34%, respectively. This growth is expected to result in approximately a million new jobs.

The International Energy Agency (IEA) has estimated that a green-recovery scenario could result in almost 3.5% of additional GDP growth globally and create a net employment impact of 9 million new jobs annually. Additionally, the green transition has the potential to create 30 million jobs worldwide by 2030 in clean energy, efficiency, and low-emissions technologies.

Education, agriculture & e-commerce

The education industry is predicted to see a 10% increase in jobs, resulting in 3 million new positions for vocational education teachers and university and higher education teachers. Agricultural professionals, particularly agricultural equipment operators, are projected to experience a 30% rise in job opportunities, resulting in an additional three million jobs.

Around four million digitally-enabled roles, including e-commerce specialists, digital transformation specialists, and digital marketing and strategy specialists, will be added in five years.

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