In 2023, researchers predicted that 90% of jobs would be disrupted by AI in 2032, but they now admit to have underestimated the impact of technology.

"What we projected might take until 2032 to unfold is happening now before our eyes. Today - six years ahead of schedule - 93% of jobs could be impacted in some way by AI," the report said.

Ollie O'Donoghue, Cognizant's head of research, has said that "nobody's safe", even the plumber or electrician whose jobs were thought to be AI-proof could be reshaped by artificial intelligence.

"You'll still need someone to turn the wrench, no doubt, but the actual process of plumbing and the value that's added will change a little bit," O'Donoghue told Fortune magazine.

Cognizant's research has found that the degree to which an occupation could be affected by AI is an astounding 30% higher than what had been forecast it would be by 2032.

The silver lining

Despite the grim outlook, Sushant Warikoo, chief business officer of AI at Cognizant believes AI could reshape work than eliminate it altogether and create new jobs in the process.

"We believe that it's going to create and expose new value pools that are not visible to us. This is the underdraft of the market. And when that happens, it creates a lot more social economic development - that creates new jobs, new roles in the market," Warikoo told Fortune.

The executive believes that people and businesses learning how to adapt technology into their work would be the primary driver of job creation.