AI to Impact 25% of Workers in Hong Kong by 2028, Research Shows
In Brief
A quarter of Hong Kong’s workforce expected to experience unemployment or career changes due to AI advancements.
Impact of AI-driven technologies estimated to affect around 800,000 workers in Hong Kong within the next five years.
Widespread adoption of ChatGPT and generative AI technologies raises concerns over extensive job losses as tasks once performed by humans become automated.
Around a quarter of Hong Kong’s workforce will face unemployment or career changes by 2028 due to the rise of artificial intelligence, SCMP cited a study by recruitment firm Venturenix. The report emphasizes that data entry clerks, administrative staff, and customer service representatives will be most affected by the rapid shift to digitalization, resulting in the elimination of their jobs.
Hong Kong’s employment realm, which may also reflect the global scenario, stands on the brink of significant transformation, urging individuals to prepare for an uncertain future, embrace emerging technologies, and seek new professional opportunities.
According to the Hong Kong Salary Guide 2023, AI-driven technologies will impact approximately 800,000 workers, equivalent to a quarter of the city’s entire workforce.
The report also highlights the strong influence of AI on diverse industries, like lawyers and translators. “Illustrators and content creators are also more likely to be replaced,” it added.
The widespread adoption of ChatGPT and other generative AI technologies has heightened fears of extensive job losses, as they can automate tasks that were previously performed by humans. Venturenix wrote that numerous Hong Kong companies are now urging employees in non-IT roles to acquire proficiency in using ChatGPT. The findings also reveal a significant scarcity of IT professionals in Hong Kong.
KPMG Executive Search and Recruitment Services reported in March that Hong Kong’s government invested HKD 3 billion in emerging technology fields, such as AI and quantum technology.
The recent report by McKinsey shows that generative AI could add up to $4.4 trillion annually across 63 use cases in various sectors. AI can even automate tasks that require creativity and communication, such as writing, composing, and designing. It could speed up the automation of work, affecting even highly educated workers. The report suggests that generative AI could automate half of all work between 2035 and 2060, depending on the adoption and implementation pace. This is faster than previous predictions that estimated this milestone to be achieved between 2035 and 2075. This acceleration of work implies that generative AI could disrupt the labor market and create new skill gaps. McKinsey’s report urges workers, employers, and educators to prepare for this shift by investing in lifelong learning and reskilling.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
