The hardest hit sectors will be retail, finance, education, and real estate, according to analysts.
Nonprofit leaders say the report serves as a warning that action is needed as Americans enter an “economic upheaval on a scale seen only once a century.”
“We can’t retrain our way out of this,” said Gisele Huff, founder and president at the Gerald Huff Fund for Humanity.
“UBI is a transitional solution and is essential to give people the security and agency to navigate AI-driven change,” Gisele Huff added.
About The Report On AI Impact on the U.S. Economy
Unfortunately, the Retail Trade sector faces the highest projected impact with an estimated 6.6 million jobs at risk, according to the report. Healthcare and Social Assistance (6.4 million jobs) is closely behind retail. Educational Services (4.6 million jobs) and Finance and Insurance (2.2 million jobs) are also top industries that AI could impact.
Other Key Findings From The Report Include:
Shift in Automation: AI is advancing into white-collar, cognitive, and administrative work, encompassing areas such as HR and finance, customer service, education, and healthcare, in addition to physical labor.
Skill Protection – Human-centric skills, such as empathy, adaptability, and judgment, will be the most effective defense against automation, according to analysts.
Retraining Limits – Historical trends suggest that retraining alone often leads to lower wages and long-term income loss.
Read the full report here.
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Source: Black Enterprise
