Type of Job:

White collar
Generative AI will change white-collar jobs by automating tasks and enhancing productivity. Highly educated roles may face the most impact, while blue-collar jobs might 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 Economists be replaced by AI & Robots?

Economists risk of being automated:

Low

This job has a low likelihood of substantial automation within the next 20 years, placing it in the lower quartile for automation probability among occupations.

Current Degree of Automation:

20
(1-100)

Source

Key findings

GenAI is set to enhance the role of economists by automating routine tasks like data analysis and market forecasting.

It will streamline decision-making processes by efficiently summarizing large volumes of information.

While it won’t completely transform the work, it will significantly improve tasks such as number crunching and predictive modeling.

Economists will benefit from GenAI’s ability to generate text, assist with research, and provide valuable insights, ultimately increasing productivity and accuracy in their analyses.

How could AI or automation replace or complement job activities?

AI, automation, and LLMs like Chatgpt could potentially enhance certain aspects of economists’ work.

While they could not fully replace the human touch needed for tasks like interpreting market trends or advising on economic policies, they might streamline data analysis and research processes.

For instance, AI could efficiently compile and analyze large datasets, allowing economists to focus more on interpreting findings and formulating recommendations.

Job description

Analyzing economic issues, creating reports, and developing strategies to solve problems in the production and distribution of goods and services or monetary and fiscal policies. Also, gathering and analyzing economic data using sampling techniques and econometric methods.

Consequence of Making Errors

33

(1-100)

Not serious at all Source
In marketing, economists' errors have minor consequences, making it irrelevant for predicting job automation.

How Repetitive is the Job?

34

(1-100)

Not important at all Source
Automation allows economists to focus on complex problems by handling repetitive tasks, enhancing job quality. If automation targets unsafe tasks, it improves work; if it replaces fulfilling ones, quality declines.
Average Anual salary USD$
$128,180
Number of profesionals in USA
28,000

Also check related jobs:

Will Transportation Planners be replaced by AI & Robots?

Key findings GenAI is poised to enhance the role of transportation planners by streamlining data analysis, aiding in decision-making, and optimizing system evaluation. While it won't completely transform the profession, it will significantly improve tasks like market...

Will Social Scientists and Related Workers be replaced by AI & Robots?

Key findings GenAI will enhance the work of Social Scientists by automating routine tasks like data analysis and report writing. It will streamline research processes and improve decision-making by efficiently summarizing large volumes of information. While GenAI...

Will Sociologists be replaced by AI & Robots?

Key findings GenAI is set to enhance the work of sociologists by streamlining data analysis, simplifying research processes, and improving decision-making. While it may not completely transform the profession, it will assist in tasks like data literacy, critical...

Will Statisticians be replaced by AI & Robots?

Key findings GenAI is set to enhance the role of statisticians by automating routine tasks like number crunching and data analysis. It will streamline decision-making processes by summarizing and classifying large volumes of information efficiently. While it may not...

Will Survey Researchers be replaced by AI & Robots?

Key findings GenAI is poised to enhance the work of survey researchers by automating routine tasks like data entry and analysis, freeing up time for more complex tasks. It can assist in generating reports, analyzing trends, and even creating visual representations of...

Will Quality Control Analysts be replaced by AI & Robots?

Key findings Generative artificial intelligence (GenAI) is set to impact, but not transform, the work of Quality Control Analysts. Blue-collar jobs like this are unlikely to be automated by GenAI, as it cannot perform physical tasks. The unique automation wave may...

Will Range Managers be replaced by AI & Robots?

Key findings GenAI is poised to enhance the role of Range Managers by streamlining tasks like data analysis, system evaluation, and decision-making. While it won't overhaul the profession, it will automate routine processes and improve efficiency. With AI's ability to...

Will Remote Sensing Scientists and Technologists be replaced by AI & Robots?

Key findings GenAI is poised to enhance the work of remote sensing scientists and technologists by streamlining routine tasks like data analysis and system optimization. It will improve efficiency in tasks such as market analysis and predictive modeling, allowing...

Will Remote Sensing Technicians be replaced by AI & Robots?

Key findings GenAI is poised to revolutionize the role of Remote Sensing Technicians by enhancing their ability to analyze data, make informed decisions, and streamline processes. While AI can assist in tasks like data analysis and system optimization, it won't...

Will Social Science Research Assistants be replaced by AI & Robots?

Key findings GenAI is set to enhance the role of Social Science Research Assistants by streamlining tasks like data analysis, report writing, and information retrieval. It will assist in complex problem-solving, improve decision-making processes, and enhance critical...

Do you think Economists will be replaced by AI?

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *