Unleash The Potential of AI To Build Smarter, Brighter Career
In the era of unprecedented technological advancement, it is inevitable not to talk about AI and automation. It has opened a plethora of new options for humans to learn and grow. We live in a period where new technology is being developed daily and we must harness this potential for the greater good.
Today, AI technology is one of the fastest-growing technologies in the world, with a forecasted annual average growth rate of 33.2 per cent between 2020 and 2027, according to a report by Search Logistics. As the world moves towards accelerated digitalisation, the heightened development of AI has led to a significant knowledge upgrade and increased utilisation of these tools in various sectors.
AI Reforms Job Culture
Since its launch late last year, ChatGPT achieved unprecedented growth, becoming the fastest-growing consumer application in history, surpassing even Instagram and TikTok in its rapid adoption. The COVID-19 pandemic has already underlined the importance of embracing technology within the workplace. People have readily embraced and seamlessly integrated technological advancements, resulting in reduced costs and time requirements across various domains, rendering it a sustainable solution.
Speaking with BW Businessworld, Satish Shukla, CHRO and co-founder, of Addverb, shared his view on how AI is rapidly transforming the job market. “Routine and repetitive jobs are taken over by AI and robots, making jobs less harsh, more meaningful, and more aspirational,” he said.
On AI's impact on the job market, Shukla highlighted the rise of influencer culture as a prime example. Social media has birthed a complete direct-to-consumer (D2C) ecosystem, giving rise to a new economy and the emergence of unicorns, along with thousands of AI-driven roles. He emphasised that making data-driven decisions will not only eliminate biases but also foster a more inclusive workforce.
Human capability grows with the rise of challenges even as the indisputable popularity of emerging technologies will continue to grow and redefine our interactions with the world. “AI enhances productivity, promotes creative thinking, and encourages strategic planning. It also provides employees with real-time feedback, which can ultimately improve their overall performance,” said Manoj Sharma, President & CHRO of RSWM Ltd., LNJ Bhilwara Group.
He also mentioned the incorporation of AI as a powerful catalyst for strengthening work culture. “Automation helps employees with extended time to focus on more meaningful work and polish their skills. Consequently, they feel less burned out and more satisfied with their work,” he added.
Technology Brings New Opportunities
As AI becomes mainstream, discussions are increasingly focused on the negative aspects. Hence, making the most of modern tools requires that you equip yourself with a growth mentality.
As per the iMocha-EY report, 28 per cent of leaders believe that they will have to revamp tech skills by 2025 to stay competitive. It also revealed that an increase in the complexity of tech skills is necessitating leaders to reconstruct their talent acquisition, development, and management strategies.
In addition to functional and soft skills, “Employers are now increasingly evaluating candidates on their technology quotient and looking for people who have the aptitude to understand AI as a user, visualise digital workflows, and explore and adopt new technology that can drive up productivity,” said Addverb’s Shukla.
Commenting on similar lines, RSWM’s Sharma emphasised moving forward with the advancement of AI. “The younger generation needs to embrace the concept of upskilling and reskilling to stay competitive in the job market,” he pointed out.
According to a PwC report, AI could contribute up to USD 15.7 trillion to the global economy by 2030, more than China and India's current output combined. AI can utilise the information that is currently available, potentially leading to new discoveries among humans.
Relevance Of Humans Continue
The influence of AI on the job market is still being determined. It will undoubtedly cause a significant shift in the corporate sphere, resulting in an increase in corporate dictionary terms. People will be forced to think and express themselves without losing their personal touch.
The Future of Jobs Report 2023 from the World Economic Forum anticipates AI to be a catalyst for job creation, with about 75 per cent of companies surveyed expected to adopt the technology. As per the report, around 50 per cent of the firms expect jobs to be created as a result, while 25 per cent expect job declines.
Words spoken by humans become emotionless if not used with intention and awareness. Moreover, a human being’s problem-solving ability can never go out of style, regardless of how technologies and systems evolve. But data analytics powered by AI is likely to power the future of workforce management.
Nonetheless, human abilities like IQ (emotional quotient), EQ (emotional quotient), and TQ (technology quotient) may become more important in subjective decision-making as AI takes on easier tasks at the workplace. It will empower employees to focus on areas that need the most attention.
