Future of Work: Why AI might save jobs, not steal them

By Peter Workman

For years, the spectre of automation has loomed large, casting a shadow of fear for many. We’ve been bombarded with headlines predicting mass unemployment as AI marches relentlessly towards replacing human workers across countless industries.

However, the recent 2024 global AI jobs barometer report by PwC suggests a more optimistic outlook. The report suggests that the sectors most vulnerable to AI are, counterintuitively, experiencing a surge in demand for human workers – and this might just be the silver lining we’ve been waiting for.

This isn’t to say AI won’t displace some jobs. It undoubtedly will. However, in my view, the report suggests a more nuanced vision of the future – one where AI acts as a powerful augmentation tool, boosting human capabilities rather than outright replacing them. In this future, accountants use AI for complex calculations, freeing them to focus on strategic financial planning. Factory workers collaborate with robots, maximising efficiency while human oversight ensures quality control.

The findings suggest to me that the jobs that will survive and thrive in the age of AI are those that require uniquely human skills. What are these? Creativity, critical thinking, problem-solving – the attributes that differentiate us from machines (for now!) and that will become even more valuable, in a future world saturated with automation.

The report has profound implications for education and training. We need to equip the young with the adaptability and agility to navigate this new landscape. Rote learning will not serve the purpose, and the skills and subjects historically taught using such methods are likely to be among those that AI can handle more efficiently than humans. Instead, we must cultivate a workforce comfortable with continuous learning, adept at collaboration, and capable of applying knowledge in novel ways.

The report also highlights a surge in productivity in sectors heavily impacted by AI. This newfound efficiency can manifest itself in economic growth, which can create entirely new job opportunities in unforeseen areas. For example, there is likely to be an explosion in demand for data analysis as companies grapple with the vast amount of information generated by AI systems.

The legal profession and the AI advantage

Within this broader landscape, the legal field offers a compelling case study. While concerns about AI replacing lawyers have been prevalent of late, the reality seems to be quite different. The PwC study suggests that lawyers with AI skills can expect a significant pay premium – up to 49% higher in the US and 27% higher in the UK. This signifies a future where AI isn’t a competitor, but rather a powerful tool that enhances a lawyer’s capabilities. Lawyers can use AI for document review, contract analysis and legal research, freeing them to focus on complex strategic tasks and client interaction. Indeed, we are seeing this happening already.

This shift in focus towards human-centric skills has profound implications for the legal profession. The move by elite City firms to increase newly qualified (NQ) salaries to £150k (with some US firms reaching as high as £180k) might seem like a positive step for some, but it could be a short-sighted long-term strategy. Extremely high NQ salaries, arguably incentivising lawyers to work long hours on quite routine tasks, may be unsustainable for firms in the long run. By contrast, focusing on developing AI skills within existing teams offers a more cost-effective way to enhance overall efficiency and competitiveness.

This is because clients are increasingly looking for lawyers who deliver real strategic value, not just rote performance of tasks that, in many cases, AI can or soon will be able to perform more efficiently. Lawyers with strong AI literacy can demonstrate their ability to use the technology to achieve better outcomes, making themselves and their uniquely human skills and insights indispensable. This is an exciting prospect for the firms and individuals who are willing to embrace it.

As such, to my mind it seems a wise strategy for firms to invest in AI training for their lawyers. Such training will equip these lawyers with the skills most in demand in the changing professional landscape. It’s a future-proofing strategy that benefits both lawyers and firms.

The future of work promises to be complex and undeniably different from what we know today. In my view, the PwC report suggests a future where humans and AI work together, not in opposition. It is a future where our human capabilities are not rendered obsolete but are amplified.

Now is the time to embrace this transformation, to reassess what skills we value most highly, and to ensure that the “robot revolution” empowers, not disenfranchises, the workforce across all industries – including the legal profession.

To find out more about flexible legal resourcing, and how Source could assist you with temporary and interim in-house placements, please get in touch with me using the contact details below.