AI is moving fast and jobs are disappearing. Automation is threatening some roles but not all jobs are created equal. AI’s strengths are in pattern recognition and data processing but tasks that involve creativity, empathy, or complex decision-making are better done by humans. These changes raise big questions about which jobs are most at risk and which are irreplaceable. We’ll discuss AI’s disruption, whether it will take over finance jobs, and jobs that AI can’t replace. 

Table of Contents

Fear of AI Replacing Jobs

• AI and Job Displacement

• Will AI Replace Finance Jobs?

Jobs That AI Can’t Replace

• Data & Analytics Engineer

• Power BI Reporting Consultant

• Data Architect

• Power BI Developer

The Future of Work in an AI World

AI and Job Displacement

The topic of AI and job displacement has been talked about a lot, especially with the rise of generative AI tools like ChatGPT. The media loves to paint a bleak picture of AI as a job killer with headlines saying millions of jobs will be automated away. For example, Business Insider and CNN have written articles saying AI is already replacing jobs at an alarming rate and some experts are predicting entire industries will be wiped out by automation soon. MSN has an article listing 31 jobs that AI might take over adding to the fear and uncertainty.

However, the public’s response to AI is more positive than the headlines. A Salesforce survey found that 77% of people trust AI and want it to do nearly half of their work. Most people aren’t fearing job displacement but rather how AI can help them. 31% of people in a PwC survey expect AI to increase their productivity and 21% expect AI to create new jobs.

It’s important to note that while some jobs may be displaced by AI, many employees see AI as a way to augment their work, not replace it. For instance, in industries where AI can automate repetitive tasks, employees can focus on more complex and rewarding work. Generative AI tools like those used by Salesforce can take over tasks like drafting emails, writing code, or even summarising reports. This helps workers save time and focus on more strategic decision-making making which is harder for AI to do.

So the elephant in the room remains, if AI is increasing productivity does that mean it will lead to job loss? A closer look at the data says while automation will replace some roles AI is also creating opportunities for workers to adapt and upskill. A recent report by Goldman Sachs found that companies that have adopted generative AI have seen an average 25% increase in productivity. AI will change the way we work not eliminate it altogether.

Will AI Replace Finance Jobs?

The finance sector is one of the most talked about regarding job displacement due to AI. Some people think that roles like financial analysts, accountants, and even traders will be automated and these workers will be out of a job. The fear comes from AI’s ability to quickly analyze big data, do complex calculations, and make predictions. These tasks used to require human expertise.

But AI’s role in finance isn’t about replacing these jobs entirely but rather augmenting them. AI can do the heavy lifting when it comes to data analysis and allow financial professionals to focus on higher-level decision-making and strategy. For instance, AI can automate tasks like risk assessment, fraud detection, and market predictions. While AI can analyze vast amounts of data much faster than a human can, it still needs human oversight to ensure these analyses are applied correctly and ethically.

Many finance workers are seeing AI as a tool to help them be more productive. According to ZDNET, 86% of US employees fear AI and automation will take their jobs but the real concern should be how to adapt and work with these technologies. Financial professionals are learning to use AI to augment their work. This technology frees up time by automating mundane tasks and allows financial workers to do more strategic work that requires human judgment, creativity, and problem-solving, which are areas where AI is still limited.

The point here is that while some tasks may be automated, the human element is still key in finance. Decision-making based on complex real-world scenarios and human emotions like negotiating with clients or navigating geopolitical risks is still beyond AI’s capabilities. Therefore, finance professionals who use AI will find themselves in roles that require both technical skills and the ability to manage more complex, judgment-based tasks.

Jobs That AI Can’t Replace

 Despite the growing influence of AI in the workforce, there are jobs that AI can’t replace. These are usually roles that require human qualities like emotional intelligence, creativity, complex problem-solving, and decision-making. While AI can automate many tasks, the following jobs have skills and qualities that are irreplaceable.

Data & Analytics Engineer

Even with all the advancements in artificial intelligence (AI), the role of a Data & Analytics Engineer is not going away. AI can automate generating code or data cleaning but can’t replace the nuanced skills required to build and maintain complex data pipelines. Engineers bring abstract thinking, problem solving and business acumen to the tasks to ensure solutions align to the business needs, something AI can’t.

For example, AI may detect anomalies or automate part of an ETL process but engineers must put the insights into context, resolve the discrepancies, and oversee the overall data architecture. AI requires high-quality data and detailed instructions, tasks only skilled engineers can do effectively. Having AI in data workflows demands engineers who can design robust systems, address ethical concerns, and adapt models to changing business conditions. This partnership between AI and human expertise is what makes the engineer’s role so essential.

Power BI Reporting Consultant

Power BI report consulting is a job that AI can’t fully replace because of the complexity and creativity in turning raw data into insights for business. While AI tools like Microsoft’s CoPilot can automate parts of report creation, they still need human expertise to provide context, strategy, and interpretation. Consultants don’t just design reports, they understand the unique goals of each business and tailor solutions to fit those needs and challenges.

Adding AI to Power BI enhances reporting by automating data analysis and providing intelligent recommendations. But AI can’t make the critical decisions on how those insights should be applied to drive business decisions. Power BI consultants use their industry knowledge, technical skills, and creativity to make sure the reports are not only right but also actionable. They can also adjust reports in real-time as business objectives or external factors change and AI may miss.

Plus with Power BI in Microsoft Fabric, consultants have more work to do to ensure data quality and security while getting the most out of the tool. The rise of AI-assisted features like the Q&A control in Power BI has democratized data access but without professional guidance businesses will misinterpret data or make decisions based on incomplete information. Therefore, while AI can help with data analysis and visualization, Power BI report consulting will still be a service that combines automation with human expertise.

Data Architect

Data architects won’t be replaced by AI because of the complexity, strategy, and context of the work. While AI is automating stuff like code generation or data pipeline management, that doesn’t capture the depth of a data architect’s job. A data architect not only designs and manages the data infrastructure but also makes sure data solutions align with business needs, objectives, and regulations, all of which require subtlety.

AI, even in its most advanced forms, lacks the abstract thinking, business acumen, and contextual judgment that data architects bring to the table. While AI can optimize some processes like automating data transformation or security, it can’t fully interpret complex business requirements or foresee how different data systems will interact across different organizational environments. AI also relies on accurate, well-maintained data, an area where human oversight is still required.

Furthermore, AI systems themselves rely on data architects to build and maintain their infrastructure. The role of the data architect includes overseeing the data architecture’s scalability, performance, and integration with other systems – tasks that require deep expertise and critical thinking. When data errors or system failures happen, data architects are the ones who troubleshoot and ensure the systems keep running optimally. Data architects are essential in designing and managing data systems and AI’s role is more likely to augment their work rather than replace it.

Power BI Developer

AI won’t replace Power BI developers. While AI and machine learning are moving fast, their role in Power BI is to assist not replace the work of human developers. Power BI’s core strengths are in data modeling, dynamic visual analytics, and interactive reporting. These allow users to explore data with human intuition and context, something AI can’t do.

AI can automate monotonous tasks like data wrangling, and provide predictive analytics and surface insights but it lacks the business understanding and industry context that developers bring.

Power BI developers work with business analysts to ensure the visualizations align with business goals and meet governance, security, and regulatory requirements. Human expertise is needed to interpret the data, make strategic decisions, and adapt to changing tools and methodologies.

AI’s role is to make us more productive by automating tedious tasks but human judgment is still needed to make business decisions based on the data. The future of Power BI is a human and AI collaboration where developers use AI to streamline processes but their unique skills in creativity, problem solving and ethics are irreplaceable.

The Future of Work in an AI World

The fear of AI replacing jobs is understandable given the pace of AI advancements. But the reality is, that AI is not an all-powerful force that will replace human workers but a tool to be used to increase productivity and create new opportunities. Some jobs will be displaced, many will evolve and new ones will be created. 

The future of work in an AI world will be what we make of it. Instead of fearing job displacement, workers should upskill and adapt. You’ll find out that AI is a powerful tool to increase productivity and create new growth, especially if you get your next big role from Happy Techies. All the best in your job search!