Articles

Job Losses in the U.S. due to AI

Antonio Szabo
Silver Fox Advisor
February 2025

We are living in a world very much focused on AI. As we all know there are many reasons for this. This paper is focused on the potential impact of AI on labor markets. 
Most people believe that AI is a threat in addition to being a revolutionary technological achievement. Let’s examine some facts and educated projections on the potential impact of AI on the US labor markets.

A good starting point is, which type of jobs are more vulnerable to AI.

Obviously, the category of jobs that are more vulnerable to AI are routine and repetitive jobs.  AI will significantly impact routine and repetitive jobs by automating tasks that require minimal creativity or critical thinking. Roles such as data entry clerks, telemarketers, and assembly line workers are particularly vulnerable, as AI systems can efficiently handle these tasks, reducing the demand for human labor in these areas. For example, financial services and customer support are seeing automation in activities like fraud detection, basic inquiries, and report generation. Also, some white-collar jobs will not be immune. Thus, the jobs of accountants, administrative and legal assistants, will be disrupted. Ironically, basic programming roles will also be affected.
Some jobs are actually complemented by AI.

The jobs less likely to be affected by AI are the ones that have content that requires emotions.

Doctors, nurses, and psychiatrists rely on emotion and Emotional Intelligence (EI), therefore are less likely to be impacted in a major way. It is worth noting, that in the Healthcare Sector jobs such as Pathologists and Radiologists may see reduced demand for their services since AI enhances diagnostics.

The work of Emergency Responders (Paramedics, Firefighters, and Police Officers) requires both quick judgment and empathy negating the AI threat.

Having a great affinity for music (particularly classical music), I pondered about the potential impact of AI on music. Conductors, soloists, and musicians in general are safe. So, they are where AI could have an impact in composition. The composition of classical music is a very complex mixture of knowledge about music history, harmony, and emotional depth. While efforts with AI in music are ongoing and have been at least for a couple of years any success stories are in popular music. The experiments devoted to Symphonies and Concertos have produced results that could be characterized as amateurish. One hesitates to call it infantile mainly because it is Mozart.

According to recent projections by researchers Forrester, within the next one to three years, AI could potentially lead to the loss of around 2.4 million jobs in the US.

Look Back So You Can Move Forward

Richard Hendee
Silver Fox Advisor
January 2025

As we start the new year, I would suggest that you spend a few minutes and look back on 2024. Make a list of all the things that went right in your business and another list of all the things that did not go so well. Why would you want to do this? Because these lists can be the framework for a 2025 plan for your business.

 Think about it, if you can duplicate or even enhance and build on those things that went well in 2024, then this year could be even better! Conversely, if you eliminate the things that did not work out so well, you could have more time to focus on the positives in your business. Further, if items on your list of things that did not go well can’t be eliminated entirely, you might want to take this opportunity to improve on the processes or procedures so that the same mistakes are not duplicated in 2025.

I would further suggest that you involve your key employees in this process, as they may have some great suggestions, recommendations or ideas that just might be the key to unlocking the door to even greater success. Additionally, these employees will now have a stake in the outcome, which generally promotes more meaningful results.If you have never done this exercise before, 2025 might be a good year to start; then, next year at this time you can look back and see if in fact you did move forward.

If you need assistance in reviewing and identifying those success factors that can be built on, I recommend you seek a business advisor, consultant or mentor: Contact a Silver Fox Advisor. Remember, having experience on your side always helps. We encourage you to visit our Website at www.silverfox.org to select a Silver Fox Advisor and also to learn more about the Silver Fox Advisors, as well as our great programs and community outreach endeavors.