AI Impact on Jobs and the Skills of the Future

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AI Impact on Jobs and the Skills of the Future

AI Impact on Jobs and the Skills of the Future – So we’ve been hearing more and more talk about A.I. and how A.I. and automation will impact jobs in the future. From Trevor Noah to the Financial Times everyone is talking about it, so we wanted to add our opinion into the mix. So how is A.I. for business going to affect the future of work? And more specifically, can we identify those jobs that are at more risk of being taking over by A.I. and automation? There’s a very wide dissonance on this.

We started analyzing a bunch of different reports that have been shared online like McKinsey reports, OECD studies, and, my personal favorite, an Oxford study that said 47 percent of U.S. jobs are at risk of automation over the next few years. Meanwhile, we see that the general population and workers think differently. A recent study, conducted by Marist College, actually identifies that 97% percent of workers believe that most jobs will be automated, but not their own. This suggests that the general public needs to be educated on which jobs are susceptible to this risk, which are not and businesses need to be aware of the forthcoming skills gap.

Of course, not all jobs are equal. The Oxford study that we cited a moment ago actually highlights this. They examined 700 participants and found that the generalist occupations that require creative knowledge or innovation are at least risk. The same is true for occupations in education, healthcare, media and arts jobs. On the flip side, jobs like telemarketers, junior lawyers, accountants are at most risk.

In short, there is a simple rule of thumb: if your job is in some way predictable or routine, the risk of automation is much higher. If a job doesn’t require innovation or creativity than the return on investment for companies is higher on machines than real time employees.

Machines are faster, can’t be distracted and can work 24/7. This is actually good for creative marketers,
because A.I. and automation can serve to augment their jobs, rather than substituting them. Last month, McKinsey and the World Economic forum published a white paper about the impact of emerging technologies on the creative economy. They stated that artificial intelligence is changing creative content from beginning to end.

By 2030, A.I. will be able to write high school essays, code in Python, compose top 40th chart songs and make creative videos. But all these advancements also comes with risks and costs. Take a look at this report by the Global Commission on The future of work. In the absence of effective transition policies, many people will have to accept lower-skilled and lower-paying jobs. High-skilled workers are taking less cognitively demanding jobs, displacing less educated workers, And this is already happening!

Also, technological dividends are being unevenly distributed among firms. A very limited amount of companies tend to dominate when it comes to “big data”. Just think about Google and Facebook. Today, they alone are responsible for 70% of the referral marketing traffic and receive more than 50% of total, global advertising budget.

So the question is: can businesses, workers, and social institutions go in the same direction? If companies and public policy leaders can understand the evolving landscape they can help the workforce anticipate the upcoming challenges. Technology and the demographic changes are leading to a smaller workforce, compared to the previous generation, and the workforces has to pursue many careers during their time of work.

We need to provide workers with an environment where they can continuously upskill and grow. Governments will have to re-evaluate the educational system we will have to continuously learn and grow and companies will have to redesign their structure and their culture around technologies Just like during the industrial revolution, we are heading into a new age.

In the great transformation that we are about to see by 2020, it is estimated that 20% to 25% of the labour force will be displaced within 10–20 years. However, this is also an opportunity for us to get ahead. We have to find ways to attract and retain highly skilled workers and allow them the time to upskill themselves, even during work hours. We think that a good way to start is to develop a learning community so you can benefit from each other. And also to use technology to supplement your goal tracking and your effort, instead of as a distraction.

In short: what are you doing to bridge the dissonance. Have you made a map of how A.I. and automation will affect your industry and your company? If this is an economic imperative, how do you feel about committing yourself to a lifelong approach to knowledge? Now, what is your opinion?

Please, let us know your thoughts in the comments below and stay sharp!

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