The world of modern day technology is developing at an incredible rate. On a frequent basis, breakthroughs and progressions in the world of tech continue to impress and surprise people all over the globe. 

In recent times one of the biggest technology talking points is artificial intelligence, or AI. 

AI has already made significant impacts on daily living despite being a relatively new development. 

One of the biggest areas of life affected by AI is the job sector. Many people now unfortunately face growing threats from AI taking their job roles. 

Not so long ago, this may have seemed like a problem that would only occur far into the future. However, AI is improving at a rapid pace and the issues are now very real. 

Whether it be now or in the future, there is a good chance that your job could be taken by AI. If this applies to you, it is a good idea to be prepared for this possibility.

AI stealing a job

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Industries at risk of AI taking jobs

Unfortunately, there are many different industries than are currently being impacted by AI developments, as well as many that will be affected in the future. 

Some of the industries at risk of AI taking jobs include:

  • Tech industry
  • Marketing/advertising industry
  • Retail industry
  • Legal industry
  • Education industry
  • Financial industry
  • Engineering industry
  • Human resource industry

Tech industry

Created by this industry, AI could actually pose significant threats to the tech industry. 

Artificial intelligence can write perfect code and can even do so at a faster rate than humans. This means anyone who is involved in coding needs to be wary. 

Other roles within the tech industry that could be under threat include the likes of web developers, computer programmers and more.

Marketing/Advertising industry

AI can do a really efficient job when it comes to marketing and advertising. Some specific roles that may be under threat in this industry include the likes of market researchers, graphic designers and technical writers. 

As AI develops, it can become better at analysing market patterns and determine effective ways to advertise.

Retail industry

The retail industry is one where you can already really see AI having significant implications. Self-service cashiers are becoming more common and online shopping is becoming more popular. 

There have already been retail outlets developed that have little to no human staff members on the floor. So the retail industry is definitely one that can be heavily impacted by AI.

Education industry

It is hard to imagine a world where a student’s teacher is not human. Although, thanks to AI, this is not far from reality. 

Education does require a human and emotional feel at times. However, there is a lot that AI can do in regard to education. 

AI could develop learning plans, break down information to make it easier to learn, create tests and even teach languages. 

There are already problems in the education sector regarding AI. Steps have been taken to try and reduce the use of AI by students for homework, assignments etc.

The use of AI by students can halt their learning and restrict their knowledge on a subject.

Financial industry

The financial industry has also seen some involvement from AI. 

The likes of bookkeepers and financial advisors could be just some of the job roles that are under threat by AI. 

Considering a lot of numerical data is used in the financial industry, it is not unlikely that AI will have significant implications.

Engineering industry

Although the entire human role of being an engineer will likely never be in threat, there is a lot that AI can do in this industry. 

From mapping out designs to solving engineering problems, AI could end up being a strong tool in this sector. 

This may mean that less human bodies are needed in an engineering workplace, meaning redundancy could be possible for employees.

Human resource industry

Human resources is another industry that has responsibilities that could potentially be done by AI. 

Again, although humans will still be needed for empathy and other emotional aspects, there are tasks that can be completed by AI. 

Some examples of tasks that could be completed by AI include the likes of finding suitable candidates for jobs, the reviewing of resumes and even basic initial interviewing.

How to prepare for redundancy

It is important to be aware when you are working in an industry that could be impacted by AI. Although it might not seem like an immediate problem, being prepared is important. 

There have already been a significant number of people across the world who have lost their jobs due to AI. It is likely that these numbers are going to increase in coming years. 

Being prepared for redundancy can lead to significant benefits in the unfortunate event that you do lose your job to AI. So how can you be prepared for potential redundancy in the future?

Building a financial safety net is one of the most effective ways to prepare for such a situation. This means that even if you do lose your job to AI, you will atleast have an emergency fund to fall back on. 

Having a financial safety net means that you may not be under as much financial strain in the event that you lose your job. 

You can easily build a financial safety net by putting aside money with every paycheck. 

The more you can put aside, the better. However, it is important to remember to not leave yourself short. 

A financial safety net can help to cover the likes of bills, groceries and other necessary spending. The bigger your fund is, the more peace of mind you will have in the face of redundancy. 

You should also make sure to talk to one of our advisors about the next steps you can take in your career as well as other redundancy advice. 

Prepare Yourself for Redundancy

Be aware of unfair dismissal

In the event that you are made redundant by your employer, you should be aware of the potential of unfair dismissal. 

Your employer should have a fair reason to dismiss you from your role, as well as follow the correct procedures. 

Regarding AI, you may be the victim of unfair dismissal. However, this is only in certain circumstances. 

If you were dismissed based on automated decisions, without proper reasoning or were not considered for alternative roles in the company, you may be the victim of unfair dismissal. 

In the event of unfair dismissal, you can make a claim which could further improve your financial situation. 

If you are unsure if you have been the victim of unfair dismissal, talk to a member of our team for advice. 

unfair dismissal

How much redundancy payment are you entitled to if you lose your job to AI

When you are made redundant from your job due to AI, you are entitled to the redundancy payment. 

The amount of redundancy payment you receive is based on the income you were receiving and the amount of service you provided for your employer. 

For every week that you worked in the company that made you redundant, you will receive two weeks of pay. This amount will be capped at €600 per week. 

You will also receive an additional one week’s pay, also capped at €600. 

For example, if you have been working at a company for five years, earning €750 per week and then made redundant by AI, you would receive a lump sum payment of €3,600. 

The redundancy payment is a once-off, lump sum payment. 

Your employer may offer to provide you a voluntary top-up payment. However, they are not entitled to do so.

Statutory redundancy in Ireland

Speak with the National Redundancy Helpline today

Redundancy can be a tough and stressful time for anyone, especially those who have lost their job to AI. 

Whether you have been made redundant already, or just feel as if your job is under threat, talk to one of our experts today. 

Our team can help advise you on the steps moving forward, or the best way to prepare for redundancy in the future. 

Contact us by phoning at 0818 123 444 or emailing at info@nationalredundancyhelpline.ie

Tax & Pension Opportunities From Your Redundancy?

Your employer may be presenting an apparently generous financial offer.

However, the payment you accept now may have long term pension & tax implications for you. You must avail of our independent advice before deciding or signing any employer’s offer.

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