Several years ago, graduates with a bachelor’s degree were more likely than today’s graduates to find a job after college. Now, artificial intelligence (AI) agents may complete many entry level jobs more efficiently than humans. As a result, recent college graduates face increasing difficulty securing employment, and the job market has become more competitive with decreasing job opportunities. The class of 2023’s participation in the job force declined in the first year after graduation, which is a deviation from trends from previous years, according to wsj.com. Currently, the national unemployment rate stands at 4 percent, while the rate of unemployment for college graduates is 6.6 percent, according to wsj.com.
The rapid expansion of AI technologies reflects the growing power of AI in replacing entry-level positions. AI now performs tasks previously completed by human workers by predicting and imitating human actions. Companies such as CVS Health and Gallup have begun using AI for polling and market research, which are jobs that would have previously been performed by human employees. In addition, many major companies utilize data found in conversations with humans and AI agents in training to create “digital twins.” These agents replicate human behavior to streamline processes, reduce costs and increase efficiency in areas such as customer service, clinical trials, focus groups, and clothing modeling, according to wsj.com.
Corporate leaders have also acknowledged the impact of AI on employment. Mr. Jim Farley, Chief Executive Officer (CEO) of Ford Motor Company, expects AI to replace half of the white-collar workforce in the United States (US), according to wsj.com. Mr. Bob Beaudet, St. John’s University’s Director of Employer Relations at The Peter J. Tobin College of Business further expanded on what jobs may be affected by AI, according to stjohns.edu.
“Anything repetitive, in any industry, is being affected,” Mr. Beaudet said, according to stjohns.edu. “In fields like accounting and certain data-heavy financial roles, we’re seeing clear softening. A lot of companies are unsure how AI will reshape roles, so some are slowing down hiring because they simply don’t know what positions will look like in the future.”
Recent data suggests that many white-collar jobs in fields such as engineering, law, and finance can be performed through AI, according to fortune.com. As AI grows across industries, mainstream job preparation is not as beneficial as it once was. The most successful graduates now must adapt to new technologies. A test in 2023 created by the Institute of Business Value (IBM) discovered that 40 percent of the workforce will change career paths in the next three years, in mostly entry-level positions, according to stjohns.edu. Stanford University’s 2023 AI Index Reports found there is a demand for AI in almost every sector of the economy, not only in the tech industry, according to stjohns.edu.
Fields and college majors that are unlikely to be taken over by AI include nursing, special education, physical therapy, construction management, and occupational therapy, according to forbes.com. Majors that emphasize interpersonal skills are becoming increasingly valued among students. Entrepreneurship courses have gained popularity as students pursue independent opportunities rather than traditional career paths, according to wsj.com. Ms. Saadia Zahidi, Managing Director of the World Economic Forum, described the human skills that will be essential in the future workforce, according to weforum.org.
“It’s also become very important to have leadership skills and to have social influence, and the ability to work with other people,” Ms. Zahidi said, according to weforum.org. “The traits that make us human make us able to relate with each other and to get innovative.”
Featured Image by Gabrielle Arredondo ’27
