More and more businesses and even entire countries are stepping up efforts to reskill mid-career professionals. They’re not just trying to help them keep their jobs; they’re aiming for them to thrive in a world where AI is everywhere. As companies integrate AI at breakneck speed, classic white-collar roles are facing the same upheaval that blue-collar jobs experienced back in the 1800s.
Research from OpenAI and the University of Pennsylvania highlights the professions most at risk: accountants, legal assistants, financial analysts, journalists, translators, and PR pros. Goldman Sachs reported in March 2023 that about 300 million jobs across various sectors could be impacted by AI.
The rise of generative AI kicked into high gear in 2022 with ChatGPT’s launch, marking a significant shift for governments and businesses. They now recognize the pressing need to prepare for this disruption.
Experts like Tram Anh Nguyen, co-founder of the Centre for Finance, Technology, & Entrepreneurship (CFTE), point out that mid-career professionals over 40 are particularly vulnerable. She emphasizes that “AI is not some future idea. It’s here and impacting everyone.” The good news? With the right retraining, people won’t just be replaced; they can adapt and thrive.
So what does this retraining involve? Non-technical professionals need to grasp the basics of AI, understand the available tools, and learn how AI can enhance their work. CFTE envisions three new kinds of professionals: those displaced by automation, “supercharged” workers leveraging AI to broaden their capabilities, and “creative disruptors” carving out new roles and innovations.
Nguyen also notes that the UK lags behind in workforce preparation for AI. “We’re not focusing enough on scaling adult education,” she says. In contrast, Singapore has implemented a successful program to help workers over 40 transition into tech roles, providing financial aid for skills courses. In 2024, approximately 555,000 people participated in SkillsFuture Singapore’s initiatives.
Financial services are experiencing one of the most significant impacts of AI. Bloomberg Intelligence projects that hundreds of thousands of jobs in US finance—particularly on Wall Street—will be replaced by AI. CIOs anticipate that, on average, 3% of their workforce will be cut, with some predicting reductions of 5% to 10%.
Interestingly, AI-related roles are becoming the most secure in banking. According to Evident, recruitment in AI development climbed by 6%, data engineering roles increased by 14%, and hiring for AI and software implementation shot up by 42%.
Amanda Stent, Bloomberg’s head of AI, stresses that every wave of change brings job transformation. “Jobs will shift,” she says. “But history shows that revolutions also create new positions.” She insists everyone, in any role, needs to learn to use AI effectively, without necessarily diving deep into the technical details.
The legal industry is also evolving with AI. The UK’s Solicitors Regulation Authority recently allowed a law firm to operate solely with AI tools for legal services. Mark Lewis, a technology lawyer, notes that many law firms are now using AI for tasks like document review and legal research, but he adds that we haven’t yet seen massive disruptions. “The talk about AI replacing junior lawyers is a bit overstated,” he expresses.
Even so, law firms are preparing for AI’s increasing role. They’re equipping lawyers with AI tools and providing training to leverage these technologies effectively. Lewis highlights the broader societal challenge: learning to coexist with AI should start early and continue throughout our lives.
In the IT sector, embracing AI is both a necessity and an opportunity. Amrinder Singh, who oversees operations at Hexaware, stresses that every one of their 30,000 employees will receive training on how to collaborate with AI. He warns, “There’s no future for single-skilled workers. If you’re not multi-skilled and familiar with AI, you won’t make it.”