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About 30 per cent or more of the time spent on tasks involved in some white-collar roles (like <keyword id="373346" type="General" weightage="20" keywordseo="accountants" source="Orion">accountants</keyword>, <keyword id="19630401" type="General" weightage="20" keywordseo="bookkeeping-clerks" source="Orion">bookkeeping clerks</keyword>, <keyword id="19630402" type="General" weightage="20" keywordseo="word-processor-operators" source="Orion">word processor operators</keyword>, administrative secretaries, <keyword id="19630404" type="General" weightage="20" keywordseo="stall/market-salespersons" source="Orion">stall/market salespersons</keyword>) could be done by <keyword id="15777223" type="General" weightage="20" keywordseo="generative-ai" source="Orion">generative AI</keyword>. In comparison, less than 1 per cent of a blue-collar workers' job (like weavers, knitters, waiters, bakers/cooks etc) in a working week could be done by generative AI, according to a report by learning company Pearson. Many administrative roles contain repetitive tasks -- such as scheduling appointments or answering and directing calls - that can be easily replicated by generative AI. This trend is especially notable in India, where the report highlights a significant 29 per cent difference in the task-level impact between the most affected white-collar and blue-collar jobs. In India, the most impacted job is accounting and book-keeping (46 per cent), followed by word processors and related operators (40 per cent). "As employees look to the future, understanding which jobs are at risk from AI allows them to prepare. They should also consider where new roles might be created by Gen AI. Workers and employers should look at how they can ride this wave of change by using the best of AI and the best of human skills together," said Mike Howells, President, Pearson Workforce Skills. The least impacted jobs in India are working proprietors, directors and executives in transport and communication and sales and marketing managers. The latest Pearson's 'Skills Outlook' series looked at the impact of generative AI on more than 5,000 jobs in five countries -- Australia, Brazil, India, the US and the UK.

Generative AI to replace 46% of time spent on accounting tasks in India

<ul class="summary-list"><li><keyword id="22852732" type="General" weightage="20" keywordseo="Yuliia-Kuzmina" source="keywords">Yuliia Kuzmina</keyword>, a Ukrainian Army veteran, is training to be an <keyword id="20676967" type="General" weightage="20" keywordseo="electrician" source="keywords">electrician</keyword>.</li><li>Kuzmina now works at a <keyword id="20171004" type="General" weightage="20" keywordseo="power-substation" source="keywords">power substation</keyword>, many of which are under constant Russian attack.</li></ul>Yuliia Kuzmina's way of supporting her country is working at a power grid. Kuzmina, 32, is training to be an electrician in Kamianske, a city in eastern <keyword id="19895162" type="General" weightage="20" keywordseo="Ukraine" source="keywords">Ukraine</keyword>. "It's a hard job," she told Business Insider. "You are responsible for the lives of people who work there. Before issuing a work order, you have to carefully work out everything and make sure there is no live voltage in the line." Kuzmina is one of many women joining essential services as the <a target="_blank" class="" href="https://www.businessinsider.com/russia-have-to-scale-back-assaults-six-weeks-losses-ukraine-2024-7">war against Russia progresses</a>. Between January and May, the number of employed women rose from about 45,000 to nearly 48,000. Those numbers could jump: The number of women undergoing vocational training, like Kuzmina, rose 75% over the same period, to nearly 17,000, according to a <a target="_blank" class="" href="https://visitukraine.today/blog/4224/ukrainian-women-began-to-learn-male-professions-due-to-mobilization-how-the-labour-market-is-changing-against-the-backdrop-of-the-war#who-is-needed-at-kyiv-enterprises">state website.</a> Because of worker shortages in fields like driving, mechanical work, and road work, the Ukrainian government <a target="_blank" class="" href="https://visitukraine.today/blog/4224/ukrainian-women-began-to-learn-male-professions-due-to-mobilization-how-the-labour-market-is-changing-against-the-backdrop-of-the-war#who-is-needed-at-kyiv-enterprises">launched a program</a> that provides women with training vouchers. It allows them to receive free training in educational institutes or directly with an employer in their chosen profession.But Ukrainian women must still contend with employers and even family members who aren't always on board with more women taking traditionally male jobs. <h2>Serving in the Army</h2>Kuzmina is no stranger to difficult jobs. She served in the Ukrainian Army for two years. She joined the military in 2020 as a desk clerk, after studying accounting and bookkeeping. She later became a grenade launcher at the 46th separate assault, or the Donbas Battalion. But soon after <a target="_blank" class="" href="https://www.businessinsider.com/ukraine-war-four-regions-russia-lose-1-million-troops-walker-2024-7">Russia invaded Ukraine</a> in February 2022, Kuzmina's commander disbanded the unit because of a lack of resources. "We had nothing — no ammunition, nothing to defend ourselves with," she said. Her unit commander "told the battalion commander that: 'I am not going to waste my people as cannon fodder.'" She also had personal obligations. Heavy <a target="_blank" class="" href="https://www.businessinsider.com/russia-have-to-scale-back-assaults-six-weeks-losses-ukraine-2024-7">military operations</a> in her hometown, Torestsk, made it impossible for her ill father to receive treatment. She moved him to a different town and discharged herself from the military to focus on caregiving. <div type="image" title="Ukrainian soldier holding rifle" height="810" width="1080" msid="112455162" hostid="261"></div>In May, she wanted another way to actively support <a target="_blank" class="" href="https://www.businessinsider.com/trumps-running-mate-jd-vance-ukraine-worst-nightmare-analysis-2024-7">Ukraine's war</a> efforts and decided to join a local power substation. "Working in the electricity supply network is important to me because this highly critical infrastructure is currently under constant shelling," she said, about <keyword id="20049806" type="General" weightage="20" keywordseo="Russian-attacks" source="keywords">Russian attacks</keyword> on power facilities. "The enemy is attacking us from all sides. They are trying to bend us under their will." Attacks on Ukrainian energy facilities are part of the Russian campaign <a href="https://www.bbc.com/news/world-europe-68976135" target="_blank">aimed at introducing blackouts</a> across the country. Ukrainian President Volodymyr Zelenskyy said in June that Russia had damaged or destroyed more than half of Ukraine's power generation. There have been <a target="_blank" class="" href="https://www.reuters.com/business/energy/russian-attacks-that-have-pounded-ukraines-power-facilities-2024-06-14/">11 sets of missile and drone attacks</a> on power and gas stations in 2024 alone, per Reuters. Locals are concerned about how the infrastructure will hold up in colder months, when energy is required for heating. Ukraine, too, <a target="_blank" class="" href="https://www.reuters.com/world/europe/ukrainian-drone-attacks-russian-oil-refineries-infrastructure-2024-06-18/#:~:text=April%201%20%2D%20A%20drone%20struck,processed%2073%2C700%20bpd%20of%20oil.">targets Russian refineries</a> and oil terminals to <a target="_blank" href="https://apnews.com/article/russia-ukraine-war-attacks-power-grid-oil-f117d1493f690d2192c9f6c60cbcf32d">weaken the Kremlin's</a> military capability. <h2>Employment gap</h2>In its third year, the conflict has created a big need for workers. Tens of thousands volunteered to join the military, while <a href="https://www.bbc.com/ukrainian/articles/cd1px4z922wo" target="_blank">650,000 men</a> of conscription age had left Ukraine for European Union countries, Switzerland, Liechtenstein, and Norway by November, Eurostat estimated. The <a href="https://reporting.unhcr.org/operational/situations/ukraine-situation" target="_blank">United Nations</a> estimated that by the end of 2023, about 6.3 million people, mostly women and children, had left Ukraine as refugees, and 3.7 million people were internally displaced, creating a large gap in young, skilled workers. "It would be fair to say that there are both blue-collar and white-collar vacancies that are affected," said Yana Lukashuk, head of recruitment at Lobby X, a Kyiv-based job agency. "Men who joined the Army and women with or without children who fled the country from all domains have formed a huge talent gap on the market." Kuzmina, is one of two female employees at her power station, but is one of several women stepping up to fill blue-collar jobs that are now vacant because they were primarily occupied by men. "More and more female candidates are becoming factory workers, technicians, drivers, et cetera as they can do nothing else but to fill many important vacant jobs in some regions where men are lacking," Lukashuk told BI. <h2>Effects of a Soviet-era law</h2>One expert told BI that the trend is an especially notable feat because of a Soviet-era law that prohibited women from a list of about 450 occupations. Ukraine repealed the law in 2017, but its effects are still ingrained in society, said Olga Kupets, a labor economics professor at theKyiv School of Economics. There is still some legal debate over whether the restrictions remain, and some coaches and lecturers in the vocational education system are not ready to train women yet, Kupets said. Even if those two issues can be overcome, there is strong pushback from society, according to Kupets. "On one hand, there is a lack of people, lack of men, and there is official willingness from the government to help women work in these previously male areas," she said, about government training programs that have been introduced this year. "But at the very low level, we see this huge opposition and resistance from employers." There have been cases of companies opening up roles for everyone, but bosses discouraged women from applying, Kupets said. "This discrimination in the labor market comes from stereotypes, not only from men but also from women like mothers or mothers-in-law," Kupets said. Still, Kuzmina, the electrician, said she sees women working around her, and on social media. "I was in the army but I realized that I could not be useful there anymore," Kuzmina said. "But I want to help our country, our Ukraine. I could not just sit around." If you are from Ukraine and have a story to share about the war and how it has impacted your career, please reach out at: shubhangigoel@insider.com Correction: August 12, 2024 — An earlier version of this story misstated when Zelenskyy said Russia had damaged or destroyed more than half of Ukraine's power generation. It was in June, not last month. It also overstated what is known about Eurostat's estimate of 650,000 men having left Ukraine. That figure referred to men of conscription age but did not specify the reason all of those men left the country.

She grew up in Ukraine, studied accounting, and joined the army. But since Russia invaded, she did a hard career pivot — twice.

<ul class="summary-list"><li>Lots of people are worried AI is going to take a bunch of jobs.</li><li>Lots of people also worried decades ago that spreadsheets and ATMs would take jobs. </li></ul>By now I expect you've seen the predictions that artificial intelligence will replace millions of jobs.Earlier this year, <a target="_blank" href="https://www.businessinsider.com/generative-ai-chatpgt-300-million-full-time-jobs-goldman-sachs-2023-3">Goldman Sachs predicted</a> AI would impact 300 million jobs worldwide, triggering "significant disruption" in the labor market.There have been high-profile examples of companies big and small <a target="_blank" href="https://www.businessinsider.com/ai-chatbot-ceo-laid-off-staff-human-support-2023-7">replacing workers</a> with AI. <a target="_blank" href="https://www.businessinsider.com/ibm-halts-hiring-for-7800-jobs-that-could-be-replaced-by-ai-report-2023-5">IBM</a>, for example, said earlier this year it would halt hiring for certain roles that could be replaced by the technology.And leading academics like <a target="_blank" href="https://www.businessinsider.com/ai-chatgpt-replace-jobs-unemployment-salaries-technology-economist-daron-acemoglu-2023-9">Daron Acemoglu</a> have been sounding the alarm on the potential impact of AI on the workforce.That's left many fearing for their careers. A recent poll found one in five college-educated workers said they're worried about <a target="_blank" href="https://www.businessinsider.com/us-workers-worry-tech-ai-may-replace-jobs-gallup-poll-2023-9?r=US&amp;IR=T">losing their jobs</a> to technology.This is not surprising. Throughout history, technology has transformed work in multiple ways, impacting the labor market in the process. In a big research report published recently, Morgan Stanley compared the rise of AI with past periods of technological innovation. And its findings offer reasons for optimism.Take spreadsheets. They first emerged in the late 70s, with the adoption of this new way of bookkeeping accelerating with the introduction of Microsoft Excel in the late 80s.Here's Morgan Stanley:<div type="image" title="Number of Americans employed in bookkeeping, accounting" height="497" width="853" msid="104381540" hostid="261" sizebytes="30508"></div>In other words, any decline in one type of job was more than offset by the creation of new, adjacent jobs.Something similar happened with the introduction of the ATM, which was predicted to put an end to the job of the bank teller. Instead, the ATMs made it cheaper to operate a branch, while the demand for bank branches increased, creating even more jobs for tellers than before.Here's Morgan Stanley again:It's important to note here that these numbers show the total number of people employed. It's absolutely the case that someone might lose their job as a bookkeeper and not be able to retrain or get another job as an accountant or financial manager. And if you're that bookkeeper, it's cold comfort that there's growth in professions that aren't available to you.That makes is absolutely key to help those who do face disruption develop new skills, something Morgan Stanley notes:

Worried AI will take your job? The history of Microsoft Excel should give you hope       

<ul><li>A World Economic Forum survey respondents expect to see a 25-35% decrease in demand for cashiers and ticket clerks, data entry clerks, accounting clerks, bookkeeping clerks, payroll clerks, and secretaries. </li><li>Organisations estimate that machines are responsible for performing 34% of all business-related tasks, whereas humans are responsible for the remaining 66%. </li><li>It is expected that task automation in 2027 will range from 35% for reasoning and decision-making, to 65% for information and data processing.</li></ul>In the next few years, technology and digitalisation is expected to wipe out many <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword>. Low-end and repetitive jobs are likely to experience the fastest decline. Clerical or secretarial roles will make up the majority of the fastest declining roles, with the largest job losses expected among roles like bank tellers and related clerks, postal service clerks, cashiers and ticket clerks, and data entry clerks, said the World Economic Forum’s Future of Jobs Report 2023. The report draws its findings from a survey of the world's largest employers regarding their expectations for job trends and directions during the 2023-2027 period. The report brings together the viewpoints of 803 firms that together employ over 11.3 million employees, covering 27 industry clusters and 45 economies from all regions of the world. Clerical, traditional administrative roles to see significant cuts Organisations that were surveyed predict a reduction of 26 million jobs by 2027 across roles related to record-keeping and administration. The respondents expect to see a decrease in demand for cashiers and ticket clerks, data entry clerks, accounting clerks, bookkeeping clerks, payroll clerks, and secretaries by 25-35%. The trend of declining demand for data entry clerks is consistent worldwide, but is expected to be particularly pronounced in Brazil, with a reduction of 46%. On the other hand, this trend is slightly less prevalent in some high-income countries such as Germany, the United States, Singapore, and the United Kingdom, with an estimated decline of around 25%. Together, these constitute more than half of the total anticipated job destruction. Since they are currently popular jobs, it is likely to lead to the loss of 26 million jobs globally, as mentioned already. “As businesses adopt frontier technologies, tasks such as information and data processing are increasingly automated, reconfiguring labour markets and changing the skills needed for work,” says the report. Reasoning &amp; decision-making jobs to be less affected Organisations estimate that machines are responsible for performing 34% of all business-related tasks, whereas humans are responsible for the remaining 66%. The rate of automation is lower than what was estimated in the 2020 edition of the Future of Jobs Survey – respondents had then expected almost half of all business tasks to be automated in the next five years. This could reflect the view that machines and algorithms have augmented human performance rather than replacing tasks during this period. Employers have revised down their predictions for future automation to 42% of business-related tasks by 2027, from 47% expected earlier. It is estimated that task automation in 2027 will range from 35% for reasoning and decision-making, to 65% for information and data processing. “The potential scope of automation and augmentation will further expand over the next few years, with artificial intelligence (AI) techniques maturing and finding mainstream application across sectors,” says the report. It remains to be seen how rapidly evolving technologies, such as generative AI, will alter the nature of automatable tasks between 2023 and 2027. Recent studies have found that Large Language Models can already automate 15% of tasks, and when combined with applications that can correct factual inaccuracies in these models, this figure may rise to 50%. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/food-tech-start-up-pluckk-acquires-100-stake-in-meal-kit-brand-kook/articleshow/99928662.cms">Food-tech start-up Pluckk acquires 100% stake in meal kit brand KOOK</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/after-us-bank-failures-agencies-directed-to-analyse-deposit-insurance-mechanism/articleshow/99928860.cms">After US bank failures, agencies directed to analyse deposit insurance mechanism</a>

26 million jobs to be wiped out globally by 2027 – Clerical and administrative roles to see the biggest decline, says WEF’s Future of Work Report

<ul class="summary-list"><li>Newly elected Speaker Mike Johnson was the bookkeeper for a crisis pregnancy center, IRS forms show.</li><li>Johnson's team said he only worked with the organization in 2016, before announcing his candidacy.</li></ul>Newly elected House Speaker <a target="_blank" href="https://www.businessinsider.com/who-is-mike-johnson-republican-speaker-house-louisiana-2023-10">Mike Johnson</a> worked for a crisis pregnancy organization that used a mobile van to target "abortion-vulnerable women" and persuade them not to terminate their pregnancies, according to tax returns filed with the Internal Revenue Service.From 2016 through 2021, Imagine Life Ministries, Inc. listed Johnson as the Louisiana group's bookkeeper on tax forms filed with the IRS. Johnson's campaign address, as it appears on his <a target="_blank" href="https://mikejohnson.house.gov/contact/">website</a>, was also listed on the forms.Johnson helped the organization file their legal paperwork in 2016 prior to announcing his congressional candidacy, Corinne Day, communications director for Johnson, told Insider.Day said Johnson has not been involved since 2016."As such, the organization's forms for 2017-2021 should not have listed him, and the Speaker will be requesting the organization correct these forms," Day wrote in an email to Insider.Imagine Life Ministries could not be reached for comment.According to an archived version of Imagine Life Ministries' website, the group operated primarily via a large van known as the "Mobile Pregnancy Unit" to seek out pregnant women."Going mobile is an [sic] proven method to reach women contemplating abortion," reads the website, adding that the van allowed the group to "operate anywhere abortion-vulnerable women are likely to be — outside of abortion clinics, on university campuses, in rural areas, and at public events."The <a target="_blank" href="https://web.archive.org/web/20180825021705/http://www.imaginelifeministries.com/mobile-unit">van</a> included an exam table, restroom, and ultrasound machine, and offered STI and pregnancy tests.<a target="_blank" href="https://www.insider.com/crisis-pregnancy-centers-prey-on-abortion-seekers-how-to-spot-2022-6">Crisis pregnancy centers</a>, or pregnancy resource centers, aim to stop people who are pregnant from seeking abortions by promoting adoption and parenting skills.Many centers exist in a legal gray area, <a target="_blank" href="https://www.insider.com/crisis-pregnancy-centers-prey-on-abortion-seekers-how-to-spot-2022-6">Insider previously reported</a>. Because religious organizations can request state funding, many operate thanks to taxpayer dollars — and they're also often exempt from laws that regulate medical clinics.Crisis pregnancy centers often <a target="_blank" href="https://www.insider.com/fake-abortion-clinics-now-outnumber-real-ones-3-to-1-2022-8">appear to offer abortions</a> to draw pregnant people in, but then use high-pressure tactics to shame patients into forgoing an abortion or spread medical misinformation about the procedure, Insider previously reported.Imagine Life Ministries noted on its website that many women "have never heard of pregnancy centers or the resources offered there."Johnson never disclosed his work for the organization on any of the eight financial disclosure forms he's filed with the House Clerk since 2018.Members of Congress are required to disclose any position held at a nonprofit organization regardless of whether they were paid, according to the <a target="_blank" rel="" href="https://ethics.house.gov/sites/ethics.house.gov/files/documents/FINAL%202021%20FD%20Instructions.pdf">House of Representatives Committee on Ethics</a>. Imagine Life Ministries, Inc. is a <a target="_blank" rel="" href="https://coraweb.sos.la.gov/commercialsearch/CommercialSearchDetails.aspx?CharterID=1175781_03F73018A3">registered nonprofit</a>.Positions in religious organizations are exempt from disclosure, according to the 2021 disclosure instructions. On all of their tax forms filed with the IRS, Imagine Life Ministries described its primary purpose as a "mobile pregnancy center that provides free ultrasounds and pregnancy testing."Tax forms also give nonprofits the option to designate themselves as "a church, convention of churches, or association of churches." Imagine Life Ministries did not designate itself under that category in any filings since its founding.Johnson did not hold a position in the organization that would require disclosure, his communications director said."Speaker Johnson was never an 'officer, director, trustee, partner, proprietor, representative, employee, [or] consultant' for this organization," Day wrote. "Therefore, he was not required to disclose this work." Johnson, a relatively unknown 51-year-old congressman elected in 2016 who's never chaired a committee, emerged as a dark horse candidate after <a target="_blank" href="https://www.businessinsider.com/house-democrats-three-weeks-speaker-house-dogs-gym-2023-10">three weeks of chaos</a> following <a target="_blank" href="https://www.businessinsider.com/kevin-mccarthy-ousted-speaker-house-first-time-history-matt-gaetz-2023-10">Kevin McCarthy's ouster.</a>A devout Christian and social conservative, Johnson has numerous ties to the evangelical right.Over the past five years, he's <a target="_blank" href="https://www.businessinsider.com/mike-johnson-personal-finances-net-worth-stocks-debt-house-speaker-2023-10">been paid</a> more than $120,000 by Liberty University, a private evangelical university in Virginia, for teaching online government courses.Last year, he <a target="_blank" href="https://www.businessinsider.com/who-is-mike-johnson-republican-speaker-house-louisiana-2023-10#last-year-he-introduced-a-bill-similar-to-floridas-dont-say-gay-law-1">championed a bill</a> that would forbid the use of federal funds to promote "sexually-oriented material" to children under the age of 10 — considered by critics to be a national version of Florida's "Don't Say Gay" law.Because the definition of sexually oriented material is broad and includes "gender identity, gender dysphoria, transgenderism, sexual orientation," the Human Rights Campaign has <a target="_blank" href="https://www.hrc.org/press-releases/human-rights-campaign-denounces-federal-bill-that-would-impose-sweeping-dont-say-gay-or-trans-restrictions-nationally">condemned</a> the bill, calling it the "latest cruel attempt to stigmatize and marginalize the community."In 2003, Johnson <a target="_blank" href="https://www.businessinsider.com/who-is-mike-johnson-republican-speaker-house-louisiana-2023-10#he-once-supported-the-criminalization-of-gay-sex-6">wrote an op-ed</a> advocating for the criminalization of gay sex. A year later, he wrote another piece describing homosexuality as "inherently unnatural" and a "dangerous lifestyle."October 26, 2023: This story has been updated to include comment from Mike Johnson's communications director sent to Insider after publication.

House Speaker Mike Johnson did work for a 'crisis pregnancy' center that used a van to find pregnant women 

<ul class="summary-list"><li>Lots of people are worried AI is going to take a bunch of jobs.</li><li>The fear that new tech will replace workers has been common throughout history. </li></ul>For decades, there have been fears that new technology was about to wipe out a generation of workers.The ATM was supposed to wipe out bank tellers. Spreadsheets were meant to wipe out bookkeepers. Robots were going to make humans redundant in manufacturing.And yet, here we are in 2023, with <a target="_blank" href="https://www.businessinsider.com/jobs-unemployment-rate-labor-market-september-report-2023-10">unemployment</a> in the US at 3.8%, and an estimated 9.6 million jobs available. So what happened?That's an especially important question to ask now as <a target="_blank" href="https://www.businessinsider.com/category/ai">AI</a> emerges as the next big transformative technology, impacting everyone from customer service agents to <a target="_blank" href="https://www.businessinsider.com/chatgpt-ai-technology-end-of-coding-software-developers-jobs-2023-4">coders</a>.The answer can offer lessons for the future.<h2>Tech typically creates more jobs overall</h2>Simply put, technology creates more jobs than it takes away. Morgan Stanley addressed this in a recent report:<a target="_blank" href="https://www.aeaweb.org/articles?id=10.1257/jep.29.3.3">David Autor</a>, a leading economist who's followed automation and technology in the workplace, also wrote about this dynamic in an important 2015 paper that asked: Why are there still so many jobs?He wrote then:<h2>Tech can increase the need for a specific role by shifting costs and creating new demand</h2>There are a few ways this plays out. In one scenario, the adoption of technology can increase the need for a specific role.For example, there were fears that the advent of ATMs would put bank tellers out of work. And sure enough, a few years after the adoption of the ATM, there were fewer bank tellers per branch.But the ATMs also reduced the cost of operating a branch. Banks responded by opening more branch offices, and bank teller employment continued to increase.Here's economist <a target="_blank" href="https://affiliate.insider.com?h=3a2eef1fe370d0d4f8d23765a09188b5dab8c67df8cbeb7a27553551f2a4122c&amp;postID=652d65391637bb40be8cedf0&amp;postSlug=tech-ai-job-creation-risks-abound-2023-10&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FLearning-Doing-Connection-between-Innovation%2Fdp%2F0300195664%2F%3F_encoding%3DUTF8%26pd_rd_w%3DCZZdo%26content-id%3Damzn1.sym.579192ca-1482-4409-abe7-9e14f17ac827%26pf_rd_p%3D579192ca-1482-4409-abe7-9e14f17ac827%26pf_rd_r%3D138-9708344-0698759%26pd_rd_wg%3DPMjxZ%26pd_rd_r%3D8bd28215-6fd7-4383-b142-af592cc2ee7f%26ref_%3Daufs_ap_sc_dsk">James Bessen</a> speaking on a <a target="_blank" href="https://www.econtalk.org/james-bessen-on-learning-by-doing/">podcast</a> about his research on this topic:<h2>Tech can also create new roles in adjacent professions</h2>In a second scenario, tech might reduce the need for one specific professional, but help create new roles in adjacent professions.In a recent article, I offered the example of <a target="_blank" href="https://www.businessinsider.com/ai-artificial-intelligence-job-replacement-worries-losses-microsoft-excel-atms-2023-10">Microsoft Excel</a>. Spreadsheets reduced the need for bookkeepers, but massively increased the need for financial managers and accountants, creating many more new jobs than were lost.Here's Morgan Stanley:<h2>But those in an impacted profession can find themselves worse off</h2>Technology then creates jobs overall. That's why there are still so many of us employed at a time of historic technological advancement.But the diffusion of technology does have the potential to disrupt a labor force in ways that negatively impacts workers.<a target="_blank" href="https://www.charterworks.com/ai-worker-inclusion/">Charter</a>, the workplace-focused media and consultancy company, cites the example of women who worked as telephone operators in the early 1900s.Mechanical switching made that role redundant, forcing women to find work elsewhere. And they did. This new technology did not reduce employment among young women.But, per a 2020 working paper from the National Association of Economic Research (NBER), the disruption may have led to those women earning less in the future. From the NBER paper:<h2>And existing workers sometimes suffer as a result of increased competition</h2>There's a second way this can play out. I wrote earlier this year about <a target="_blank" href="https://www.businessinsider.com/ai-artificial-intelligence-impact-on-companies-pay-office-workers-uber-2023-6">white-collar workers</a> facing their own Uber moment. This refers to the introduction of Uber to London, where taxi drivers were previously required to pass an intensive exam, capping the supply of taxi drivers.Suddenly, with Uber, every driver with a cellphone could compete for business. This put downward pressure on taxi-driver incomes."Suddenly, knowing the name of each street in London was no longer valuable expertise, so that anybody with a drivers license could drive a taxi," Professor Carl Benedikt Frey, the director of future of work at the Oxford Martin School, told me earlier this year. "The result was more competition for incumbent taxi drivers who saw their incomes fall by around 10%."<h2>How a new technology is implemented is key</h2>Technology typically creates new jobs and industries, more than offsetting any jobs that are lost as a result of the technology's implementation.There is still lots of work to go around, as is true today.But there's no guarantee that the individual worker impacted by a new technology will get the new job that's being created, or that others won't see their incomes fall as a result of fresh tech-enabled competition.So it's less a question of whether we'll have work to do in the future, and more a question of what that work is, and what it will pay. There are fears that AI will exacerbate <a target="_blank" href="https://www.businessinsider.com/ai-chatgpt-replace-jobs-unemployment-salaries-technology-economist-daron-acemoglu-2023-9">income inequality</a>.This puts a huge emphasis on how the technology is implemented, who gets to participate in its upside, and what happens to those workers who do find themselves disrupted.AI is already at the heart of union negotiations in <a target="_blank" href="https://www.businessinsider.com/ai-change-hollywood-industrial-light-magic-rob-bredow-star-wars-2023-10">Hollywood</a>. Morgan Stanley has predicted the rise of generative AI will create "unprecedented demand for reskilling."In a policy memo updated in September, <a target="_blank" href="https://www.businessinsider.com/ai-artificial-intelligence-impact-on-companies-pay-office-workers-uber-2023-6">Daron Acemoglu</a>, Autor, and Simon Johnson wrote: "Generative Artificial Intelligence (AI) will surely impact inequality, but the nature of that effect depends on exactly how this technology is developed and applied. Nothing about the path of this (or any) technology is inevitable."

Tech was supposed to take everyone's job. We're still working. What happened?

<ul class="summary-list"><li>The wave of recent layoffs, particularly in tech, has stoked fears of a possible recession in 2023.</li><li>A new Payscale report identified 20 jobs that appear well-positioned to weather a potential downturn, based on wage growth.</li></ul><a href="https://www.businessinsider.com/layoffs-sweeping-the-us-these-are-the-companies-making-cuts-2022-5">Mass layoffs</a> have hit tech, and they've stoked <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-2023-turns-unusually-bearish-recession-fears-economy-2022-12">fears of a broader recession</a>. However, some jobs look better-positioned to make it through a possible downtown, and a new <a href="https://www.payscale.com/research-and-insights/hottest-jobs-end-of-year-report-2022/">report</a> from Payscale reveals just which ones.The salary comparison site identified the top 20 recession-proof jobs based on wage growth in 2022 compared to previous years. They've seen pay hikes of anywhere from 14% to 30% this year, according to employees' self-reported wages.These roles, a mix of blue- and white-collar jobs, are considered recession-proof because labor shortages and increased competition are leading employers to drive up wages, Payscale says."Despite the possibility of an economic downturn, the labor market remains tight, forcing employers to pay top dollar to attract and retain talent for the most sought-after roles," said Lexi Clarke, VP of People at Payscale, in an accompanying <a href="https://www.payscale.com/press-releases/payscale-data-reveals-which-jobs-will-survive-a-potential-recession-in-2023/">press release</a>.Here are the jobs that would have the most <a href="https://www.businessinsider.com/career-cushioning-recession-layoffs-protect-job-2022-12">job security</a> in a recession, according to the report, along with their national median pay and salary growth:<ol><li>Waiter/Waitress Median Pay: $19,900 Salary Growth: 30%</li><li>Private Banker Median Pay: $93,000 Salary Growth: 25% </li><li>Media Director Median Pay: $108,000 Salary Growth: 23%</li><li>Police, Fire, or Ambulance Dispatcher Median Pay: $44,500 Salary Growth: 19%</li><li>Sales Consultant Median Pay: $56,800 Salary Growth: 18%</li><li>Microbiologist Median Pay: $59,900 Salary Growth: 16%</li><li>Marketing &amp; Business Development Director Median Pay: $119,000 Salary Growth: 16%</li><li>Dock Worker Median Pay: $41,100 Salary Growth: 15%</li><li>Electrocardiogram (EKG) Technician Median Pay: $40,400 Salary Growth: 15%</li><li>Installation Technician Median Pay: $46,800 Salary Growth: 15%</li><li>Assembly Line Machine Operator Median Pay: $37,200 Salary Growth: 15%</li><li>Bookkeeping, Accounting, or Auditing Clerk Median Pay: $47,300 Salary Growth: 15%</li><li>Tanker Truck Driver Median Pay: $58,100 Salary Growth: 15%</li><li>Journalist Median Pay: $46,500 Salary Growth: 15%</li><li>Graphic Design Manager Median Pay: $69,700 Salary Growth: 14%</li><li>Pastry Chef Median Pay: $43,400 Salary Growth: 14%</li><li>Diversity Manager Median Pay: $97,100 Salary Growth: 14%</li><li>Education Coordinator Median Pay: $51,800 Salary Growth: 14%</li><li>Director of Environmental Services Median Pay: $73,800 Salary Growth: 14%</li><li>Estimator, Automobile Damage Median Pay: $60,300 Salary Growth: 14%</li></ol>

These 20 jobs are most likely to survive a possible recession in 2023

Underwood Archives/Getty ImagesWomen office workers entering data using tabulating machines and punch cards at the Erie Railroad Company offices, Cleveland, Ohio, January 22, 1958<ul class="summary-list"><li>Over the past two decades, the American economy shed over 2.1 million administrative and office support jobs that offered a steady path into the middle class for many women, particularly those without a college degree, <a href="https://www.washingtonpost.com/business/economy/administrative-assistant-jobs-helped-propel-many-women-into-the-middle-class-now-theyre-disappearing/2019/12/04/75686efe-f6a0-11e9-a285-882a8e386a96_story.html">the Washington Post reported.</a></li><li>The wave of jobs losses hit administrative assistants, clerks, bookkeepers, executive assistants and secretaries, according to Labor Department data.</li><li>And it hasn't let up in the decade after the Great Recession even with sustained economic growth, suggesting that type of work won't recover and may be permanently lost.</li><li><a href="https://www.bls.gov/ooh/office-and-administrative-support/home.htm">The Bureau of Labor Statistics</a> projects that employment within administrative positions will suffer over 608,000 job cuts going into the next ten years.</li><li><a href="https://www.businessinsider.com">Visit Business Insider's homepage for more stories</a>.</li></ul>Over the past two decades, the American economy shed over 2.1 million administrative and office support jobs that offered a steady path into the middle class for many women, particularly those without a college degree, <a href="https://www.washingtonpost.com/business/economy/administrative-assistant-jobs-helped-propel-many-women-into-the-middle-class-now-theyre-disappearing/2019/12/04/75686efe-f6a0-11e9-a285-882a8e386a96_story.html">the Washington Post reported</a>.The wave of jobs losses hit administrative assistants, clerks, bookkeepers, executive assistants and secretaries, according to Labor Department data. And it hasn't let up in the decade after the Great Recession even with sustained economic growth, suggesting that type of work won't recover and may be permanently lost.Administrative jobs are about 70 percent female, according to the Post.Many of those administrative positions have been automated or outsourced instead. <a href="https://www.bls.gov/ooh/office-and-administrative-support/home.htm">The Bureau of Labor Statistics</a> projects that employment within administrative positions will suffer over 608,000 job cuts going into the next ten years. Experts say technology will factor into replacing those roles."The new trend is to actually replace administrative work with robotic software," Phil Fersht told the Post. "I saw a bank in Brazil recently replace 600 staff with basically a chatbot."Another element that's serving as a barrier for the 18 million remaining administrative jobs is upskilling as companies increasingly require a college degree for those positions."For non-college educated workers, the landscape of opportunity is contracting and narrowing," MIT economist David Autor told the Post. <h3>NOW WATCH: <a href="https://www.businessinsider.com/can-president-trump-be-tried-for-treason-ukraine-president-impeachment-2019-9">A law professor weighs in on how Trump could beat impeachment</a></h3>

A key pathway into the middle class for many women is vanishing

<ul><li>NASSCOM and Bank of America are at odds about the job cuts set to occur across the Indian IT industry in the ongoing fiscal year.</li><li>Bank of America asserts that up to three million people could find themselves unemployed as a result of automation while NASSCOM asserts that only 1.4 million are employed in the ‘low skill’ segment to begin with.</li><li>Companies in the Indian IT sector may continue to be ‘net hirers’ in FY22, but that doesn’t mean that people won’t be losing their jobs to software programs that can perform day-to-day tasks better than humans. </li></ul>India’s leading information technology (IT) lobby, NASSCOM, and analysts at Bank of America are sparring over how many employees in the sector are set to lose their jobs this year. Whether it's half a million or three million, ‘low skilled’ <keyword id="57650" type="PERSON" weightage="20" keywordseo="IT-jobs">IT jobs</keyword> are under threat of automation — and even the executives recognise this. Bank of America has estimated that Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>), <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword>, <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, Wipro, Tech Mahindra, Cognizant and others will see a 30% reduction in ‘low-skilled’ jobs globally by 2022 because of robot process automation (RPA). The global financial services company gauged that around 9 million people are employed in such roles in India, which means 3 million — one third of the total — will find themselves unemployed by the end of the year. NASSCOM has hit back saying that only 1.5 million people are employed in low-skilled and BPO roles, not 9 million. Which means, even if there are to be job losses, at the same rate as Bank of America is predicting, they may only amount to around half a million. However, the IT lobby asserts that the sector will be a net creation of jobs in the ongoing fiscal year. <div type="ExtQuote" text="The Industry continues to be a net hirer of skilled talent, adding 138,000 people in FY2021, and robust hiring plans for FY22 with the top 5 Indian IT companies planning to add over 96,000 employees." auname="NASSCOM statement"></div> <cmsannotation type="cmsannotation" annotationid="Who should be afraid of automation?" comment="subhead" text="Who should be afraid of automation?">Who should be afraid of automation?</cmsannotation> RPA isn’t actually robots — it’s software. And it’s programmed to complete specific business processes, which are routine, high-volume activities like routine help desk requests, call centre operations, data migration and other applications. RPAs can be chatbots, virtual assistants, data retrieval as well as claims processing algorithms. The justification for their use — despite the threat to actual human jobs — is that they will allow employees to focus on more specific tasks that require soft skills. At the same time, they will save companies a bucket-load of money. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Job roles in decreasing demand across industries:</td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data entry clerks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Administrative and executive secretaries </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Accounting, bookkeeping and payroll clerks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Accountants and auditors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and administrative managers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client information and customer service works </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">General and operation manages </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial analysts </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sales representatives </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Relationship managers </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Human resources specialists </td></tr></tbody></table>Source: World Economic Forum’s ‘Future of Work 2020’ report Bank of America estimates that $100 billion in annual salaries and associated expenses will come in as savings as a result of automation. “Given that robots can function for 24 hrs a day, this represents a significant saving of up to 10:1 versus human labour,” said the report. However, according to NASSCOM, existing business process outsourcing (BPO) employees won’t be impacted by automation because most of the work that is being done now involves “higher end expertise”. That is to say, that ‘low skilled’ jobs have already been ‘filtered out’ — employees were either fired or upskilled — over the last few years. But one of its members, Tech Mahindra, disagrees. During an <a href="https://www.businesstoday.in/current/corporate/it-companies-set-to-slash-3-million-jobs-by-2022-due-to-automation-report/story/441821.html">analyst call</a> in February, the company’s chief financial officer (CFO), Manoj Bhat, disclosed that automation will result in savings for the company. India’s fifth-largest IT exporter also disclosed that it planned to lay off 5,000 employees within its BPO vertical by April this year with chatbots and virtual assistants increasing the productivity per employee. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td colspan="3" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hiring trends by Indian IT companies in the previous and ongoing fiscal years: </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian IT company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Freshers hiring in FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Freshers hiring plans for FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Around 9,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">At least 5,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TOTAL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">83,000 </td></tr></tbody></table>Source: Quarterly earnings calls by the respective companies <cmsannotation type="cmsannotation" annotationid="Automation is a global phenomenon — not an India-specific problem" comment="subhead" text="Automation is a global phenomenon — not an India-specific problem">Automation is a global phenomenon — not an India-specific problem</cmsannotation> While India is among those most at risk due to automation, it’s hardly alone in trying to face this dilemma. The US, which was grappling with high unemployment numbers during the pandemic, is set to see 1 million jobs disappear due RPA, according to Bank of America. “We are seeing increasing use of artificial intelligence, robotics, and automation, which can destroy millions of jobs,” American economist <a href="https://www.businessinsider.in/business/news/interview-nouriel-roubini-professor-of-economics-new-york-universitys-stern-school-of-business-talks-about-the-future-of-global-economy-post-covid-19/articleshow/78746518.cms">Nouriel Roubini</a> said during the Business Insider Global Trends Festival 2020. With the COVID-19 crisis, the adoption of automation has accelerated. Globally, around 85 million jobs are on the line, according to the World Economic Forum (<a href="http://www3.weforum.org/docs/WEF_Future_of_Jobs_2020.pdf">WEF</a>). Not just in IT, but other sectors like retail and healthcare. And, India is racing ahead of the rest of the world. <div type="ExtQuote" text="“While 58% [of businesses in India] are accelerating automation of tasks, compared to 50% globally, as many as 87% are accelerating digitalisation of work processes, above the global average of 84%.&quot;" auname="World Economic Forum’s ‘Future of Work 2020’ report"></div> While some jobs may go out the window, new jobs will also be created as a result of automation. Overall, with 85 million jobs expected to disappear globally by 2025, 97 million new jobs will be created, as per the WEF report — that’s a net addition of 12 million jobs. For those caught in the crosshairs of ‘digital transformation’, upskilling and reskilling will be their saving grace. However, that window of opportunity is getting smaller. "The Industry is upskilling more than 250,000 employees in digital skills and has hired more than 40,000 fresh digitally trained talent, indicating at its commitment and investment towards rapid enhancement of workforce capabilities," said NASSCOM. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/sbi-hdfc-icici-and-12-others-banks-are-joining-forces-to-use-blockchain-to-power-letters-of-credit-a-move-that-could-be-a-boon-for-msmes/articleshow/83570874.cms">SBI, HDFC, ICICI and 12 others banks are joining forces to use blockchain to power Letters of Credit — a move that could be a boon for MSMEs</a> <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-download-link-early-access-registration/articleshow/83597180.cms">Battlegrounds Mobile India beta now available, early access rolling out – download and registration links here</a> <a href="https://www.businessinsider.in/cryptocurrency/news/tether-is-a-cryptocurrency-thats-not-volatile-and-pegged-against-the-us-dollar/articleshow/83604895.cms">Tether is a cryptocurrency that's not volatile and pegged against the US Dollar — here's everything you need to know</a>

Whether it's half a million or three million — 'low skilled' IT jobs in India are definitely at risk

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>You have a great idea for a business - now you just need to launch it.</li><li>Business Insider spoke with four business owners and experts to learn the best steps to take to build your company from the ground up.</li><li>These include figuring out how to structure your business - whether it's a partnership or LLC, for example - as well as registering your business' name and obtaining an employer identification number.</li><li>Next, you should open up a bank account specifically for your business and implement a cloud-based bookkeeping system.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>You've come up with a brilliant idea for a product or service. You've done your research and identified your audience as well as your competition. Perhaps you've created a <a href="https://www.businessinsider.com/10-resources-for-creating-a-killer-business-plan-2014-4">business plan</a>, which is a smart move if you're hoping to secure financial backing. If you're ready to take the leap and launch your business, you may be wondering where to begin. We asked four entrepreneurial experts to share the first five steps necessary to start a business, any business, from freelancing and photography to tax preparation and interior design. Here's their advice.<h1>1. Consult with a professional about how to structure your business </h1>You can choose to operate your business as a: <ul><li>Sole proprietor: The simplest of business structures, this unincorporated entity is owned solely by one individual, who retains the profits but also has unlimited liability for the debts and obligations of the business. It's easy to set up and just as easy to dissolve.</li><li>Partnership: This common form of business is established when partners agree to set up and run a business together. In doing so, partners share in the assets and profits, as well as the financial and legal liabilities of this entity, and are subject to unlimited liability.</li><li>Limited liability company (LLC): As its name implies, this entity limits the personal responsibility of owners. But some states require that the LLC dissolves after a set number of years or if a member dies or quits.</li><li>Corporation: This structure is more complicated and, thus, expensive to establish. Owners are protected from liability but they're often less autonomous because they may report to shareholders.</li></ul>There's no one-size-fits-all answer, and you may even decide to change from one form to another as your business evolves over time. The structure you select, however, will impact your personal liability as well how much you pay in taxes. For these reasons, it's fiscally prudent to get personalized advice from a qualified business attorney or certified public accountant (CPA), who can help you determine which is your best option. According to the online marketplace for legal services <a href="https://www.upcounsel.com/small-business-lawyer-cost">Upcounsel</a>, the cost of hiring a small business lawyer can range from $150 per hour for a junior associate to $1,000 per hour to retain the services of a senior partner at a prestigious firm. Depending on an accountant's level of experience and location, expect to pay <a href="https://smallbusiness.costhelper.com/accountants.html">between $150 and $400 per hour</a>."Believe it or not, not every small business needs to set up a business entity such as an LLC or a corporation, especially when they're just starting out," said Logan Allec, CPA and owner of personal finance site <a href="https://moneydoneright.com/">Money Done Right</a>, which has over 30,000 email subscribers and garners more than 100,000 visitors per month. <div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>In some cases, he noted, jumping the gun on forming a business entity could eat into your profits."Forming an LLC in California, for example, will cost you a franchise tax payment of $800 per year, whether or not you need or even use the LLC," Allec explained. "That being said, given your industry and personal wealth situation, it may very well be advisable to set up a business entity for your business right from the get-go for asset and legal protection purposes."By forming an LLC, owners limit their personal liability. In the event that a lawsuit is brought against the business, only its assets can be claimed by creditors - the owners' personal assets can't be touched.To find trusted professionals who can offer their insight for the best business structure, Allec suggested visiting local entrepreneur groups and getting word-of-mouth recommendations from those who've had positive experiences. Allec shared that based on his expertise as a CPA, he chose to form an LLC."For me, the choice was between forming an LLC or a corporation," he said. "In my state, the LLC is less expensive to set up and easier to maintain than a corporation, so I opted to form an LLC."<h1>2. Choose a business name and register it</h1>Deciding what to name your business seems like it should be one of the easier and more fun aspects of starting your endeavor. But if you're struggling to come up with a name that either conveys what your business is all about or makes a positive first impression, you may want to consult with a branding expert or visit a site like <a href="https://www.squadhelp.com/Help-Me-Name-My-Business">Squad Help</a>, which harnesses the brainpower of over 100,000 talented professionals to help create your entire brand. If you have your heart set on a name for your business, first you'll need to make sure it isn't already in use or trademarked. You can check this for free at <a href="https://www.legalzoom.com/business/business-formation/entity-name-check-overview.html">LegalZoom.com</a>. If it's available, you'll need to register it, as this makes your business a distinct legal entity. How and where you need to register depends on your business structure and location. Simply by creating an LLC or corporation, you've registered your business name, as filing articles of organization (for an LLC) or articles of incorporation (for a corporation) registers the name with your state.But if you're starting a sole proprietorship or partnership, you'll want to conduct a Doing Business As (DBA) search with your local county clerk's office to make sure the name you want is available, said Kyle Odom, owner of <a href="https://www.barcop.com/">Bar Cop</a>, a software company that helps restaurant and bar owners track inventory and whose customer count has grown approximately 20% year over year since it was founded in 1998, to include roughly 32,000 individual establishments worldwide."You will need a DBA to open a bank account in your business name," he explained. You can <a href="https://www.legalzoom.com/sem/biz/dba.html">file DBA online</a>, and pricing starts at a flat fee of $99, plus state filing fees. The application will ask you what you'd like to call your business, if you're registering it for the first time, and in which state you want to do business.If you're using your own legal name as your business' name, you don't need to register it. Once your business name is good to go, experts recommend registering your domain name (also known as your website URL) so customers can easily find you on the internet - and so that it doesn't get scooped up by the next small business that launches with a similar name. You can do this by visiting a domain name registrar, such as <a href="https://www.godaddy.com/">GoDaddy</a> or <a href="https://www.namecheap.com/">Namecheap</a>. The cost of a domain name varies depending on several factors: <ul><li>the domain extension, for example ".com" vs ".shop";</li><li>the length of time you select to retain the name; and</li><li>where you purchase it. For instance, it's cheaper to purchase a new name through a registrar than through a private seller.</li></ul>Typically, a domain name can cost as little as between $2 and $20 per year. <h1>3. Obtain an employer identification number </h1>Next, you'll want to get an employer identification number (EIN), which is a nine-digit number assigned to your business by the Internal Revenue Service (IRS). You'll use this number when you file your taxes and open a business bank account. Think of it as your business' social security number. "You may need to obtain one if your business meets certain criteria," noted Allec. "For example, if there are multiple owners in your business, you need an EIN. If you set up a corporation for your business or elected to be taxed as one (either an S corporation or a C corporation), you need to get an EIN."The <a href="https://www.irs.gov/businesses/small-businesses-self-employed/do-you-need-an-ein">IRS website</a> outlines which business entities are required to get an EIN. But even if you're not required to get an EIN, it still may be a good idea to do so. "If you will be working with clients who will be issuing you 1099 forms, you will have to provide them with your social security number if you don't have an EIN to give them," said Allec.<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>And, added Deborah Sweeney, CEO of <a href="https://www.mycorporation.com/">MyCorporation.com</a>, an online leader in business formations, trademarks and copyrights, and more, "if you plan to hire and pay employees, open a business bank account, or establish a retirement plan, you'll need an EIN."How do you obtain an EIN? "In the old days, obtaining an EIN meant filing a form with the IRS and waiting for them to get back to you," said Allec. "Now, <a href="https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online">you can do it online</a> and have your EIN within 15 minutes." You need to complete the application in one session and have a valid taxpayer identification number. The application is free when you use the IRS website, so beware of other sites that attempt to charge for this service. <h1>4. Open up a business bank account</h1>If you have a business, you need a business bank account. "Keeping your business inflows and outflows separate from your personal accounts will not only make bookkeeping and taxes a lot easier, but it will also get the conversation [started] with business bankers who could potentially help you with funding down the line," said Allec. "Keep in mind that every bank has slightly different rules when it comes to opening a business bank account, so be sure to call ahead so you understand exactly what information and documents the banker will need to open up your account."Allec suggested looking for sign-up bonuses when opening your business bank account, as both national and local banks routinely offer new businesses cash incentives simply for opening a new business bank account. Additionally, you want to make sure the bank is a good fit for your needs. "For example, a business owner whose company routinely invests in equipment purchases and other large capital expenditures will likely want a bank nearby where he or she can communicate their financing needs in person and develop face-to-face rapport with business bankers," said Allec. "My needs, however, as the owner of an online service-based business are far more simple: I just needed an account where cash can come in and out and didn't want any fancy bells and whistles. I also wanted an account where I could easily check my balance on the go. So, the most important things to me were a low fee structure and a top-notch mobile banking app."For Allec, finding the right bank account didn't take much work. "The bank at which my wife and I bank personally sent me a mailer with a sign-up bonus offer for opening a new business bank account," he said. "I researched the fee structure and found that the monthly fee would be waived if I maintained a relatively low balance each month, and I was already familiar with this bank's mobile banking app and was very pleased with it."Ask your banker about services that are not only important to you now but those that may be of value down the line. For example:<ul><li>Are there minimum balance requirements? (No one wants to get hit with unexpected fees if the balance dips below a certain level.)</li><li>Does the bank charge overdraft or electronic transfer fees?</li><li>Will the bank extend a line of credit if needed? If so, what are the interest rates?</li><li>Is mobile check deposit available?</li><li>Will your account earn interest?</li></ul><h1>5. Implement a cloud-based bookkeeping system</h1>While you don't necessarily need to hire a bookkeeper on day one, you should have some kind of automated bookkeeping system in place."Obviously, you need a set of books to do your taxes, but beyond that, knowing exactly how much your business is making every month is essential to making good business decisions," said Allec. "Technology makes bookkeeping so easy these days, so there's really no excuse to not have a system in place."<div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Robert Gauvreau, CPA and founder of <a href="https://gauvreaucpa.ca/category/venturenorth/">Venture North</a>, a 38,000-square-foot entrepreneurial incubator business hub and program, recommended purchasing a cloud-based bookkeeping solution."If you implement this system right out of the gates, it is as simple as one or two minutes per day to review transactions, and you will never get behind again," he said. "A few options for a cloud-based bookkeeping solution would be <a href="https://quickbooks.intuit.com/oa/online/">QuickBooks Online</a>, <a href="https://www.sage.com/en-us/cp/sage50cloud-nca-pricematch/">Sage 50</a>, <a href="https://www.xero.com/us/try/online-accounting/">Xero</a>, and <a href="https://www.sendwave.com/">Wave</a>. As a bonus, if you enter your budgeted figures into your cloud-based bookkeeping software, you can continue to monitor your progress and determine if you are on track to realizing your vision and financial results in your business."Which system does the entrepreneur use for his own business? "The cloud-based bookkeeping system we use is QuickBooks Online, which is an incredibly powerful platform," he said. "A few of the reasons it won us over was its ease of use, its ability to customize reporting, and its integration with other third-party solutions that provide for even greater financial analytics."Launching a business is an exciting time. Taking the right steps can help set you on the path for success.

The first 5 steps every entrepreneur needs to take to launch a business, according to people who've done it

<div class="KonaFilter image-container display-table"><div><div class="image on-image">From Monty Python's "The Meaning of Life"Bookkeepers are in trouble.</div></div></div>America is going to see some huge employment shifts in the next decade, as in past decades, thanks above all to technology.The biggest losers? Bookkeeping, accounting, and auditing clerks, whose ranks are projected to shrink by 149,000 from 2014 to 2024.We pulled the 12 jobs with the <a href="http://www.bls.gov/emp/ep_table_106.htm">largest total declines</a> in Bureau of Labor Statistics projections (<a href="http://www.businessinsider.com/jobs-quickly-disappearing-in-the-us-2016-7">see our past coverage</a> for largest percent declines). Keep scrolling to see who's losing the future.

You Searched For "bookkeeping clerks" and got 11 results

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