Pull Quote

“The best way to predict the future is to create it.”

~ Peter Drucker

Question:

I keep hearing that artificial intelligence will eliminate millions of jobs. Should I be worried about my career and the future?

Answer: It’s a fair question that we hear from clients and especially younger professionals as they enter the workforce. The media wants us to keep reading their headlines, so they typically paint a picture of doom and gloom, insinuating that we’re on the verge of a job apocalypse. The data tells a hugely different story.

Reshape, not Replace

Rather than eliminating jobs, AI focuses on increasing productivity and efficiency to produce more with reduced costs and resources. According to Boston Consulting Group (BCG), 50-55% of US jobs will be reshaped by AI in the next three years with only 10-15% of jobs vulnerable to being fully eliminated. AI is expected to displace 6-7% of jobs worldwide, creating more jobs than it destroys, bringing potentially 97-170 million new roles by 2030 versus 85-92 million displaced. We’ll see entirely new jobs emerge, including AI oversight, training, creative applications, and new fields we cannot yet imagine.

In fact, recent employment reports show continued job growth, with hundreds of thousands of jobs added this year alone. At the same time, job openings, layoffs, and quit rates have remained relatively stable. The labor market is resilient.

We’ve seen this movie before

While researching this column, I was fascinated when I looked into how Zoom started and its impact on society and employment. Eric S. Yuan, Zoom’s founder, frustrated with 10-hour train rides to visit his future wife, was inspired to create remote connectivity. Eric immigrated to the US in 1997, working for Cisco who acquired Webex. Eric’s new connectivity idea was rejected, so he left to found Zoom Video Communications in 2011. Fast forward to 2020-2022 with Covid and Zoom was well positioned to disrupt and create opportunities with remote work and communication.

There were concerns over lost jobs in transportation, hospitality, and commercial real estate. At the same time, Zoom created jobs in IT support, virtual events, and digital collaboration. Zoom disrupted while adding value. Tech isn’t the risk; the danger is lack of resilience. I know I was not thrilled about creating my first Zoom background! Now Zoom is a valuable tool, but does not replace human interaction, nor will AI.

This is a time of transition, not collapse. The Agricultural, Industrial, and Internet Revolutions brought similar concerns. And yet, over time, those innovations created entirely new industries, roles, and opportunities. AI follows that same pattern.

Yes, some jobs, especially those with routine and repetitive tasks, will change or disappear. Yet others requiring interpersonal skills, empathy, judgment, creativity, and complex physical skills will become even more valuable. Meanwhile, AI allows professionals to work more efficiently, freeing up time for higher-value, more strategic contributions.

Price Waterhouse Coopers (PwC) AI jobs barometer analyzes over a billion job ads across six continents to show that skills like judgment and leadership are still incredibly attractive and well rewarded. Companies using AI for growth, not just cuts, see faster headcount and wage growth.

Even in sectors where layoffs have occurred, such as in technology, this could be more of a recalibration after aggressive hiring during the Covid years, not just AI replacing workers. In other words, AI isn’t so much taking jobs but more about reshaping how work gets done.

The Bigger Economic Impact

From an investor and economic perspective, AI’s rise has actually been a positive. Productivity, measured as output per hour worked, has been rising above its long-term trend since late 2022. At the same time, labor cost growth has moderated, corporate profits have reached record levels and select inflation pressures may be easing.

These aren’t the signs of an economy under stress from mass unemployment. Instead, this suggests an economy becoming more efficient, and even stronger.

What this means for you

None of this is meant to dismiss or diminish real changes and concerns. Some roles will evolve. Some skills will become more valuable than others. But history and the current data suggest that adaptability matters far more than fear. For investors and individuals alike, the takeaway isn’t to pull back, but to stay engaged by continuing to build skills that complement technology, not compete with it.

AI is reshaping the economy. So far, it’s boosting growth and not crushing the job market. That doesn’t mean there won’t be challenges along the way. It does mean the future is likely to be more about adaptation and opportunity than widespread job loss.

The future isn’t something that happens to us; it’s something we help shape, one decision at a time. Stay focused and plan accordingly.

The opinions expressed are those of the writer as of July 15, 2026, but not necessarily those of Raymond James & Associates and subject to change. Investing involves risks including the possible loss of capital. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete Diversification and allocation do not ensure a profit or protect against a loss.

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This article provided by Darcie Guerin, CFP®, Senior Vice President, Investments & Branch Manager of Raymond James & Associates, Inc. Member New York Stock Exchange/SIPC 606 Bald Eagle Dr. Suite 401, Marco Island, FL 34145. She may be reached at 239-389-1041, email darcie.guerin@raymondjames.com Website: www.raymondjames.com/Darcie.