With the recent introduction of Chat GPT to the internet, Artificial Intelligence (AI) has become a big topic as it is poised to change the way we work and live.
This has created a lot of uncertainty in the job market as the fear of being replaced by AI has swept through the working population. However, it doesn’t have to be this way, AI will change everything about our lives in the coming years but if working people play our cards right, we will not be replaced. From chatbots and virtual assistants to self-driving cars and smart homes, AI is already having a significant impact on our daily lives. In this blog post, we will explore some of the opportunities and challenges presented by AI in the business and employment market and how you can prepare yourself to be a part of this revolution.
AI has the potential to create new jobs and improve productivity, efficiency, and accuracy in various industries. For example, in healthcare, AI-powered tools can help diagnose diseases, create personalized treatment plans, and improve patient outcomes. In manufacturing, AI can help optimize production processes, reduce waste, and increase efficiency. In finance, AI-powered tools can analyse large datasets, identify patterns, and make more informed investment decisions. In my own industry of recruitment and immigration, AI has the potential to do the searching for candidates and do preliminary checks into candidate suitability for a role. Chatbots and virtual assistance could help a recruiter handle large quantities of queries from clients or candidates, streamlining every part of the recruitment process and AI also has the potential to reduce bias in the recruitment process by selecting candidates that are objectively right for the job based on their experience and skills.
While AI has enormous potential, it also presents significant challenges. AI-powered automation may replace some jobs, particularly in industries where routine tasks can be easily automated, in other words low skilled jobs. According to a recent report by the World Economic Forum, the rise of AI is expected to displace 97 million jobs by 2025. However, the same report also predicts that AI will create 133 million new jobs, primarily in areas such as data analysis, AI development, and human-machine interaction.
Another challenge presented by AI is the skills gap. As AI becomes more prevalent, workers will need to acquire new skills and knowledge to remain competitive in the job market. This may require significant investment in retraining and reskilling programs, particularly for workers in industries that are most vulnerable to job displacement.
The impact of AI on the employment market is likely to be both transformative and disruptive. While some jobs may be lost to automation, new opportunities will emerge, and workers will need to acquire new skills and knowledge to adapt to the changing landscape. Governments, employers, and individuals must work together to ensure that the benefits of AI are shared widely and that workers are adequately prepared for the challenges and opportunities presented by this rapidly evolving technology.
Advice for business owners and employers:
Investigate how AI is going to change your industry and begin the shift today. Upskill your staff in how to use AI to prepare your team and your business for the growth of AI and encourage experimentation and risk taking. Just like the internet, AI has the potential to change the world as we know it and only through innovation and experimentation are businesses going to discover those potential uses.
Advice for employees:
Put yourself and your skills online, this will make it easier for AI to find you and present you with job opportunities. Start using Chat GPT and looking into how it can work for you in alignment with your current skills and industry. To do this, focus on innovation and creativity as AI does not have these skills.
AI is inevitable, they are here now, and they are not going to go away. Embrace the change and move with it. AI is the next step in the development as a digital society, it will only continue to grow and develop in complexity and usability as time goes on. So keep upskilling yourself in all aspects of digital life as this will help you into the future.
- Andrew Lamont, Accounts Manager at Trinity