Economists

43%

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Comments (7)

Analysis

Will "Economists" be replaced by AI & Robots?

Based on the 2013 study it's unclear if this occupation will be replaced by robots/AI. However, workers can take comfort in the results from our poll, which only shows a 37% chance of automation within the next 2 decades.

Automation Risk Level

Start worrying

or 43% probability of automation

Projected Growth

6%

by 2024

People Employed

19,000

as of 2019

Median Annual Wage

$105,020

or $50.49 hourly

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How this compares with other jobs: 286 out of 707

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People Employed (US)

Median Annual Wage (US)

Job description

Conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy. May collect and process economic and statistical data using sampling techniques and econometric methods.

SOC Code: 19-3011

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Comments

Phillip Tussing says

Ha ha ha! OF COURSE economists will not be replaced! As Ludwig von Mises might say, it is impossible to "do economics" without humans. Ah, but teaching undergraduate economics can be done by pre-recorded videos, with grading done simply and automatically, and supervised by a few economists. And of course all the number-crunching required for corporate economics can be done by algorithms, supervised by a few human economists. And almost all the number-crunching in research work can be done by programs overseen by a few research economists. So... there will still be a few economics jobs...

Aug 10, 2020 at 03:00 AM

rle (Highly likely) says

If economist continue to create use regression analysis only looking at prior data then yes, there is no need to pay an analyst 100K to click a button anyone can do in excel. I've worked to automate these roles & actuarial positions.

Aug 08, 2020 at 02:53 PM

Niko (No chance) says

The insights change as macro fundamentals change... a computer cannot understand the macro indicators, political influence, sentiment or expectations.. We still do not understand inflation

Jun 25, 2020 at 07:44 PM

Anukul Bodile (No chance) says

I would have said that AI would replace economists if all humans were this mythical being called Homo economicus, someone who has no social affinities, no lapses of judgement or hang-ups, no capacity even for thinking about anyone besides him or herself.

May 12, 2020 at 09:04 AM

Isaac Lemmen (No chance) says

It is mostly politics and rhetoric

Mar 06, 2020 at 09:10 PM

Gino (No chance) says

La economia es la accion humana como diria ludwig von mises es imposible hacer economia sin humanos.

Economics is human action, as Ludwig von Mises would say, it is impossible to do economics without humans.

Jan 07, 2020 at 03:04 AM

levi eleazar de oliveira bezerra (Small chance) says

The economics sector studies human behaviour and is not a matter of exact since it requires creativity and study of society to be able to apply the changes and for this to happen and necessary the accompaniment to the effective result.

Jun 07, 2019 at 12:01 AM