As many as 11 million American workers may need to change occupations by 2035 because of artificial intelligence, according to a new McKinsey Global Institute report released on September 29.

The report estimates that automation could reduce labour demand by 36 million jobs by 2035, while growth in AI-related fields and the broader economy could generate demand for 40 million jobs. The net effect would be more jobs overall.

About 770,000 workers would need to switch occupations each year, roughly three to four times the historical average. The report calls it the largest workforce transformation in US history.

Office and administrative support, retail and sales, and transportation and logistics face the highest displacement risk. Low-income workers are estimated to be eight times more likely to need a career change than high-income workers.

McKinsey urged governments to fund retraining and provide real-time labour market data. The report’s central message: the next decade’s challenge is mobility, not scarcity of jobs.