Impact Of ChatGPT On Job Market: Threats And Benefits

When ChatGPT was introduced, it was like a new toy in the hands of students. The student community used it for completing their assignments. Soon professionals in a wide range of fields started using it too. However, as time passed people began to realize that there can be a strong impact of ChatGPT on job market.

In this article, we will discuss the impact of ChatGPT on job market. We will try to see how the introduction of ChatGPT is disrupting traditional industries.

The Impact of ChatGPT on Job Market: An Indian Scenario

In the Indian job market, we face a frequent problem every year - the problem of an inefficient and unskilled workforce. Companies often complain that they have to invest time and money in training the employees they hire.

In the past years, the trend of upskilling has also picked up in India where working professionals spend considerable time and money on enhancing their skill set. Along with this, they use productivity-enhancing tools to stay ahead of the competition. For many Indian professionals, ChatGPT is that productivity-enhancing tool.

Let’s take examples of a few professions and analyze the impact of ChatGPT on the job market.

The Impact of ChatGPT on Job Market: The Tech Sector

The tech sector is paradoxically one of the most sought-after and yet the most volatile industries in India. To be a good tech professional, you have to continuously work on your skills. Professionals in this sector must ensure that they are up-to-date with newer technologies. They have to be proficient in the programming languages required in their job. Along with this, they also require knowledge of other technical aspects of their work.

All this makes the tech sector very dynamic. You cannot rely on the knowledge you gathered from your college textbooks and hope to compete in this sector. You must find innovative ways to be more productive and offer a higher output to the company.

How can ChatGPT Impact Tech Jobs?

1. ChatGPT can write codes in any programming language. Its human counterparts will find it tough to have a mastery of more than a few computer programming languages.
2. ChatGPT can write faster codes. It can save a lot of time with lesser human labor involved.

You Still Need Human Programmers: Let’s See Why?

1. Codes written by ChatGPT are not error-free. You still need somebody to ensure the code is clean and workable.
2. There is a certain logic and thought behind a code. You need human intelligence to determine the aim and purpose of the application for which the code is written. For example, code for a medical mobile application would have certain requirements which can be decided only by a human brain. So, the involvement of human coders cannot be ruled out.

How can Tech Professionals Use ChatGPT?

The impact of ChatGPT on job market is that it reduces dependence on a manual workforce. ChatGPT can potentially replace low-waged tech professionals who do not have any particular specialization.

So, what you can do is upgrade your learning, practice coding, and take mentorship from industry experts.

You can explore the articles under the Computer Science category on Unstop to know about the latest trends in the field of technology.

The Impact of ChatGPT on Job Market: The Education Sector

Teachers are the second most prominent category who are affected by ChatGPT in recent times. Artificial Intelligence-based technologies have changed the way teachers handle their work.

Until 2019, a typical day in a teacher’s life would include going to the school/college every morning, delivering lectures, checking assignments, and giving homework. Although the subjects, the teaching style, and other factors differed from teacher to teacher, things were more or less the same.

However, it changed in 2020 when the world went into a global lockdown. Teachers had to innovate their way of conducting classroom teaching, without being inside classrooms. Many found it difficult to conduct online classes. Additionally, now they had to decide how they would assess students from remote places.

Again, when ChatGPT became popular, teachers were plagued with another problem. Students started using the chatbot to understand concepts, solve homework, and write essays. It looked like the role of a teacher had suddenly become redundant.

So, it is clear that within less than five years, the community of teachers has found themselves in a perplexing situation.

How can ChatGPT Impact Teaching Jobs?

1. Many teachers in India worked as tutors to help students with homework. Their services may not be required in the future as ChatGPT could be used to assist students with homework.
2. The number of teachers required in an institution could be reduced. It was seen that in the lockdown period that a single recorded lecture could be shared among hundreds of students. Now teachers did not have to deliver lectures on the same topic again and again.

You Still Need Teachers: Let’s See Why?

1. To understand the learning needs of each student. The deep learning technology of ChatGPT is not good in this regard. We still need teachers to understand the learning styles of students. It is not possible without human interaction between the teacher and students.
2. To create lesson plans to meet the learning demands of the students and time constraints of the educational institutions.
3. To assess how lessons should be imparted, keeping in mind the developmental needs of the students. For instance, teachers have to understand the emotional, psychological, and cognitive growth of the students while teaching sensitive topics like equality, discrimination, fundamental rights, etc. Children of different age groups will understand them differently. ChatGPT's responses are not designed to generate user-sensitive output.
4. To be there to encourage and motivate students. Students need a grown-up person to guide them at every step of their educational journey.

How can Teachers Use ChatGPT?

1. They can use ChatGPT in creating lesson plans.
2. Automate non-teaching, administrative day-to-day routine tasks.
3. Take help from this generative AI to educate themselves on the educational needs of students with different learning styles. In this way, teachers can incorporate empathy and emotional intelligence into their work.
4. To find ways to make learning creative and fun. 

All these things will help them do their work more efficiently.

Read more about ChatGPT in the education sector: ChatGPT For Educators: Personalised Learning Tools For Students

The Impact of ChatGPT on Job Market: The Legal Sector

Professionals in the legal sector have also experienced the negative impact of ChatGPT in the labour market. Professionals offering legal services include legal assistants, lawyers, paralegals, etc.

A major portion of legal professionals was already exposed to AI tools even before the invention of ChatGPT. On the other hand, the chatbot has made it easier for the common masses to outsource legal services to AI.

How can ChatGPT Impact Jobs in the Legal Sector?

1. It uses Natural Language Processing (NLP) technology, which operates on language models and machine learning, to translate official documents into easily understandable language.
2. ChatGPT can conduct research and collect a large amount of data which takes paralegals and legal assistants lots of time.
3. ChatGPT can do administrative mundane tasks easily.

You Still Need Legal Professionals: Let’s See Why?

1. ChatGPT cannot study individual cases and offer legal consultancy.
2. ChatGPT cannot do complex tasks which require critical thinking.  Hence, the AI-driven chatbot does not know which law or set of laws is applicable to a certain case study.

How can Legal Professionals Use ChatGPT?

1. The job of the legal experts is not at risk of replacement by ChatGPT. It is because legal consultants offer a critical perspective to a case study. However, they can use it to collect relevant information in a shorter period of time.
2. They can access similar case studies from different places and time periods and compare a specific case based on them.

Since legal professionals require a thorough understanding of law, philosophy, and culture, ChatGPT cannot fully replace them. However, they can definitely use the chatbot to speed up the legal process to ensure faster delivery of justice.

The Impact of ChatGPT on Job Market: The Corporate Sector

Market research analysts, financial experts, and social media strategists are another set of professionals who are wondering whether ChatGPT will threaten job opportunities in the coming future.

How can ChatGPT Jobs in the Corporate Sector?

1. ChatGPT for market research: It can help in collecting data and studying current market trends.
2. ChatGPT for developing social media strategy: It can study social media posts for current trends and suggest relevant strategies without the need to hire a professional social media strategist.
3. ChatGPT for content creation: The chatbot can be used to write articles and blog posts, hence threatening the jobs of content creators. 
4. ChatGPT for financial analysis and financial advisory: ChatGPT can be used to understand the investment trends in the market and suggest profitable portfolios to their clients.

You Still Need Corporate Professionals: Let’s See Why?

1. ChatGPT may collect data easily but market researchers have to use their knowledge and skills to analyze it to draw sensible conclusions.
2. Social media strategies need an understanding of various aspects such as the emotional makeup of the users, their political preferences, and their cultural choices, among many others. The AI-generated content of ChatGPT is not equipped to organically assimilate all these factors and provide a good social media strategy that would align with the sensibilities of the audiences.
3. Companies still need content creators to have plagiarism-free content production. Good content generation will be of competitive advantage to content writers.
4. Investment demands experts for assessing potential risk appetite. They need expertise and critical thinking acumen. In this way, a professional will be needed to provide a better customer experience.

How can Corporate Professionals Use ChatGPT?

Corporate professionals can use ChatGPT to understand current trends and get current market updates. Yet, the information has to be oriented to match the aims of the business and customer demands.

Read more about the use of ChatGPT in the corporate world: ChatGPT For Financial Analysts: Advantages And Some Limitations

Looking into an AI-Driven Future

The examples of the above jobs have some points in common. The jobs and the aspects of jobs that will be negatively impacted by ChatGPT include:

• Low wage jobs
• Jobs with lack of expertise/ specialization for higher-level tasks
• Jobs witth lack of critical thinking
• Jobs witth lack of creativity
• Jobs witth lack of analytical skills in research
• Jobs where repetitive tasks/everyday tasks can be automated
• Jobs with minimal/no innovation
• Jobs where soft skills are required

So, how can you safeguard yourself from the impact of ChatGPT on job market? You can take certain measures, such as:

• Move beyond the resume: Upgrade your skills by participating in hackathons and competitions.
• Stay in touch with market trends: Regularly participate in workshops and conferences to know about current industrial trends.

If you learn to use ChatGPT as a productivity tool, then you can benefit from it greatly.

For more articles on ChatGPT, stay tuned to Unstop.

Here are some ChatGPT articles:

• Ethical Implications Of ChatGPT: The Good, The Bad, The Ugly
• Key Capabilities Of ChatGPT In Customer Service Industry In 2023
• HR Guide To ChatGPT 2023: Automate Your Work & Hire The Best
• ChatGPT For Job Seekers: Use AI Chatbot At Various Hiring Stages
• How ChatGPT In Healthcare Sector Can Be Transformative?