The world of work is changing rapidly due to technological advancements, environmental challenges, and social shifts. Some jobs are becoming more in demand, while others are facing obsolescence. In this blog post, we will explore the five fastest growing jobs in the world, and the five jobs that are expected to decline the most, according to the World Economic Forum’s Future of Jobs 2023 report.
These fastest growing jobs are predicted to expand as automation and the energy transition transform the way we work.
1. AI and Machine Learning Specialist: 39% growth
Artificial intelligence (AI) and machine learning (ML) are the fields of computer science that deal with creating systems that can learn from data and perform tasks that normally require human intelligence. AI and ML specialists are responsible for developing, testing, and deploying these systems across various domains, such as healthcare, education, finance, entertainment, and security. AI and ML specialists need to have strong skills in programming, mathematics, statistics, and problem-solving.
2. Sustainability Specialist: 33% growth
Sustainability is the concept of meeting the needs of the present without compromising the ability of future generations to meet their own needs. Sustainability specialists are professionals who help organizations achieve their environmental, social, and economic goals by implementing strategies that reduce waste, conserve resources, promote social justice, and enhance profitability. Sustainability specialists need to have a broad knowledge of sustainability issues, such as climate change, renewable energy, circular economy, and corporate social responsibility.
3. Business Intelligence Analyst: 32% growth
Business intelligence (BI) is the process of collecting, analyzing, and presenting data to help organizations make better decisions. BI analysts are experts who use various tools and techniques to transform raw data into meaningful insights that can inform business strategy, operations, marketing, and customer service. BI analysts need to have strong skills in data analysis, visualization, communication, and business acumen.
4. Information Security Analyst: 31% growth
Information security (IS) is the practice of protecting information and information systems from unauthorized access, use, disclosure, modification, or destruction. IS analysts are professionals who design, implement, and monitor security measures to safeguard an organization’s data, network, and systems from cyberattacks. IS analysts need to have a solid understanding of security principles, technologies, standards, and regulations.
5. Fintech Engineer: 31% growth
Fintech is the term used to describe the integration of technology into financial services. Fintech engineers are developers who create innovative solutions that improve the efficiency, accessibility, and security of financial transactions. Fintech engineers need to have a combination of skills in software engineering, finance, cryptography, and user experience.
Meanwhile, these five jobs are expected to decline the most.
1. Bank Teller and related clerks: 40% decline
This job involves handling cash transactions and providing customer service at banks or other financial institutions. However, with the rise of online banking, mobile payments, and fintech solutions, the need for human tellers is decreasing. Customers can now access their accounts, transfer funds, pay bills, and perform other tasks using their smartphones or computers.
2. Postal Service Clerk: 40% decline
This job involves sorting and delivering mail, selling stamps and postal products, and providing customer service at post offices. However, with the decline of physical mail due to email, social media, and online shopping, the demand for postal service clerks is also declining. More people are opting for digital communication and delivery services instead of sending letters or packages through the mail.
3. Cashier and Ticket Clerk: 37% decline
This job involves receiving payments from customers, issuing receipts and tickets, and providing customer service at retail stores, cinemas, theaters, or other venues. However, with the advent of self-checkout machines, online shopping, and digital tickets, the role of cashiers and ticket clerks is becoming less relevant. Customers can now pay for their purchases or book their tickets using their smartphones or credit cards without interacting with a human clerk.
4. Data Entry Clerk: 36% decline
This job involves entering data from various sources into a computer system or database. However, with the advancement of artificial intelligence (AI) and machine learning (ML), data entry tasks can now be automated or outsourced to cheaper locations. AI and ML can also analyze data faster and more accurately than humans, reducing the need for manual data entry.
5. Administrative and Executive Secretary: 34% decline
This job involves performing clerical and administrative tasks for managers or executives, such as scheduling appointments, preparing documents, answering phone calls, and organizing files. However, with the development of cloud computing, online collaboration tools, and virtual assistants, many administrative and executive tasks can now be done remotely or by software. Managers and executives can also manage their own schedules and documents using their smartphones or laptops.
These are some of the jobs that are expected to see the fastest decline in the next five years. These figures cover 673 million workers, a subset of the International Labor Organization dataset and not the total 3.3 billion people in work globally. However, not all is doom and gloom. The energy transition could add an estimated 30 million jobs by 2030 in clean energy efficiency and low emissions technologies and 3.5% a year to the global GDP. Moreover, there are many new and emerging jobs that are growing in demand due to technology, climate change, and other factors. In our next blog post, we will look at some of these jobs and how you can prepare for them.