Type of Job:

White collar
Generative AI will change white-collar jobs by automating tasks and enhancing work. Highly educated roles may face the most impact, while blue-collar jobs may see increased demand and pay.

What Constitutes Artificial intelligence (AI)?

Artificial Intelligence (AI) is a technology that allows systems, whether software or machine-based, to autonomously make predictions, recommendations, or decisions that impact both real and virtual environments without the need for constant human guidance or intervention.

Sources

Author:

Juan D. Montoya

Juan D. Montoya

Economist and AI researcher.

Will Financial Clerks be replaced by AI & Robots?

Financial Clerks risk of being automated:

High

This job is highly likely to be substantially automated within the next 20 years, placing it in the upper quartile for automation probability among occupations.

Current Degree of Automation:

35
(1-100)

Source

Key findings

GenAI is revolutionizing the role of Financial Clerks by automating tasks like number crunching, market analysis, and data entry.

It enhances decision-making by streamlining information retrieval and simplifying complex problem-solving.

With its ability to generate text and multimedia content, it improves user support and aids in financial analysis.

GenAI’s impact on white-collar professionals like Financial Clerks is evident in its capacity to handle routine tasks efficiently, allowing them to focus on more strategic aspects of their work.

How could AI or automation replace or complement job activities?

AI, automation, or LLMs could be utilized to automate tasks such as analyzing financial data, monitoring market trends, preparing investment reports, and recommending financial products in the role of Financial Advisors.

These technologies could assist in managing client portfolios, updating financial plans, and conducting financial seminars.

For instance, AI could streamline the process of analyzing client information and recommending suitable investment strategies, potentially enhancing efficiency in the financial planning sector.

Job description

Processes financial transactions, maintains financial records, and performs general accounting duties.

Consequence of Making Errors

48

(1-100)

Moderately serious Source
In finance, the moderate consequence of clerical errors doesn't directly indicate if the job will be automated soon.

How Repetitive is the Job?

52

(1-100)

Important Source
Jobs like financial clerks face automation risks due to their repetitive tasks. However, it's likely that only specific tasks will be automated, not the entire role, opening new possibilities for the future.
Average Anual salary USD$
$49,710
Number of profesionals in USA
128,000

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