Deutsche Bank’s research division has tasked its proprietary AI tool, dbLumina – built on Google’s Gemini model – with assessing the economic and labor market implications of artificial intelligence. The analysis indicates that while the technology is poised to increase global GDP and productivity, it will also cause significant disruption in sectors reliant on data-intensive, automatable tasks,
particularly in information technology and the financial sector.
Within the financial sector, wealth management faces the greatest risk, as AI fundamentally challenges the role of human advisors. Projections suggest the global robo-advisory market will grow from $7.39 billion in 2023
to $72 billion by 2032, with assets under management reaching $2.33 trillion by 2028.
Algorithmic trading, fraud detection, and customer service are also in AI’s crosshairs. The same holds true for roles built around processing structured data, such as certain accounting, auditing, and legal assistant positions.
The analysis suggests that industries requiring emotional intelligence, dexterity, or strategic leadership skills will remain relatively safe. These include healthcare, education, construction, and senior management positions.
AI also advises focusing on professions built around the new technology to facilitate labor market adaptation. Demand for human workers is expected to remain strong in areas such as prompt engineering, AI ethics, and artificial intelligence development for the foreseeable future.
The featured image is an illustration. Image source: Getty Images
