Artificial Intelligence Is Likely to Make a Career in Finance, Medicine or Law a Lot Less Lucrative
Growing up, there’s a good chance you heard the mantra “go to a good school, get a good job, and make lots of money.” On the surface, that seems like sound advice. After all, college graduates, on average, earn almost $1 million more in their lifetimes than those with only a high school education.
Perhaps you were encouraged to get a professional degree to land a high paying job like a doctor, dentist, lawyer or something similar. This also seems like great advice, considering a professional degree holder typically earns more than $2 million more in their lifetimes than the average college graduate.
Thanks to rapid advances in robotics, automation and artificial intelligence, jobs are falling to machines left and right. And it’s not just blue-collar jobs that are being taken over by automation. It’s white-collar professions as well. According to an Oxford study, 47 percent of U.S. jobs could fall to automation in the next 20 years.
The safe, high paying jobs of the past are starting to look much less secure going forward. If you’re currently in one of the following professions, or going to school to get into these fields, you should think twice before continuing.
If Wall Street is known for anything, it’s known for crazy high salaries and bonuses. For those who have wanted to get rich quickly post-college, there have been few better industries than finance. Alas, finance is one of the industries with the highest risk of automation. Read more…