THE IMPACT OF ARTIFICIAL INTELLIGENCE ON JOB TRANSFORMATION IN THE LABOR MARKET

Artificial Intelligence has appeared as one of the best technological innovations of the 21-century. It is reshaping labor markets in all industries and in all countries. AI-based technologies such as machine learning, generative AI, language learning platforms and robotics have changed everything in the job market. Some scholars argue that AI will only replace routine jobs like subway conductors, cashiers, bookkeepers and other office routine jobs. Other scholars say that it can help people in decision-making, improve productivity, not taking away their jobs. These two different views highlight the importance of AI in job market transformation. This work also explores job loss due to AI, job growth, teaching new skills to the workforce, changing skills in the job market. This work explores not only replacing jobs by AI, it also shows changes the structure of job market. This review also shows that AI makes new jobs for people who have technical, digital and cognitive skills. This study gives emphasis to the critical role of AI in enhancing economic efficiency of the sector.