New Delhi: Fears that artificial intelligence will wipe out millions of jobs have unsettled workers and investors alike, but a new research note from Morgan Stanley suggests the long-term impact may be less severe than many expect.
According to the report, while some roles will be automated, most workers are unlikely to be permanently left behind. Instead, many are expected to shift into new types of jobs, including roles that do not yet exist. The bank said artificial intelligence will change the nature of work rather than eliminate it entirely.
To support its argument, Morgan Stanley pointed to major technological shifts over the past 150 years, including electricity, mechanised farming, computers and the internet. These innovations transformed industries and altered job requirements, but they did not replace human labour altogether.
The report cited the rise of spreadsheets in the 1980s as a useful example. While spreadsheets reduced the need for certain clerical tasks, they also enabled financial professionals to focus on more complex and higher-value work. Over time, this shift helped create new careers in finance rather than destroy the sector.
Morgan Stanley believed artificial intelligence will follow a similar path by changing job types, occupations and required skills. As AI adoption increases, companies are expected to create new leadership roles such as chief AI officers to oversee integration of the technology across business operations.
The demand for specialists in AI governance is also likely to grow, especially in highly regulated sectors such as healthcare. Areas such as data regulation, cybersecurity and policy oversight are expected to require skilled professionals to ensure responsible use of AI systems.
In the technology sector, hybrid roles that combine product management and engineering are likely to become more common. With the help of natural-language coding tools, product managers may take on more technical responsibilities, building and testing early prototypes before handing projects over to engineering teams.
Artificial intelligence is also expected to create highly specialised roles across industries. Consumer-facing companies may hire AI personalisation strategists and AI supply-chain analysts who combine data expertise with customer experience insights. Industrial firms could rely more on experts in predictive maintenance and intelligent energy systems. In healthcare, new roles may focus on computational genetics and oversight of AI-driven diagnostic tools.
The bank also noted that market concerns about AI disrupting entire industries may be overstated. It pointed out that services and cyclical sectors, which have seen weakness linked to disruption fears, account for only about 13 per cent of the market value of the S&P 500.
(IANS)
