How AI could cut wages of workers who don't 'upskill' | The Business

The rise of generative AI is set to disrupt certain occupations while insulating others, such as healthcare professionals. There's an opportunity for workers to upskill rather than fear replacement by AI. Jobs that blend human skills with AI capabilities, like software engineering and web design, will benefit. The adoption of AI in recruitment aims to widen the applicant pool, though the risk of bias remains. AI's increasing presence in job ads indicates a shift towards integration, with a need for workers to gain basic AI literacy through microlearning and online courses.

Takeaways

• 🤖 The advent of generative AI is set to change the workforce, augmenting some jobs, disrupting others, and insulating a few.
• 🔧 Roles such as locksmiths, physical therapists, nurses, and doctors are likely to be insulated from the impact of generative AI, as their tasks are less likely to be automated.
• 📚 Occupations like librarians and legal clerks may face disruption, as generative AI could potentially take over many of their tasks, especially those involving data summarization.
• 🚀 Upskilling oneself in the face of AI advancement is crucial to avoid being replaced by automation and to leverage the opportunities AI presents.
• 🤝 Jobs that benefit most from generative AI are those that require a combination of uniquely human skills and tasks AI can replicate, creating a synergy between human and AI.
• 🎨 Creative and high cognitive load tasks, such as logical thinking, are likely to become more prominent as AI takes over more routine tasks.
• 🌐 The future workplace will expect everyone to have a basic understanding of AI, much like current expectations for internet literacy.
• 📈 AI has the potential to widen the pool of job applicants by focusing on skills rather than traditional credentials, potentially increasing diversity in hiring.
• 📊 The rise of AI has led to a significant increase in job postings requiring AI skills, with a 21-fold increase in demand for chatbot and generative AI skills over the past year.
• 🛠️ Individuals can protect themselves from displacement by learning AI skills, but they don't need to become experts; instead, understanding how to use AI tools is sufficient.
• 🌟 AI bias is a concern, but with careful attention and a human-centric approach, AI can be a force for good and help mitigate, rather than perpetuate, bias.

Q & A

What is the impact of generative AI on the workforce?

Generative AI will lead to some occupations being augmented, others being disrupted, and a few being insulated from significant change. Jobs like locksmith, physical therapist, nurse, and doctor are likely to be insulated, while roles in fields like librarian and legal clerk may be disrupted as generative AI could perform many of their tasks.

How can individuals protect themselves from being replaced by AI in the workplace?

Individuals can protect themselves by upskilling and learning how to integrate AI into their work processes. This involves understanding how AI can assist in their roles and focusing on tasks that require higher cognitive load and creativity, which are less likely to be automated.

What types of occupations will benefit the most from generative AI?

Occupations that benefit from a synergy between human skills and AI-replicable skills will see the most benefit. This includes roles like user experience designers, technicians, web designers, and software engineers, which will allow them to focus on more interesting and creative tasks while AI handles more routine work.

When do you think everyone will need to learn how to use AI?

It is anticipated that within five to seven years, everyone will have a basic understanding of AI and how to integrate it into their work processes, similar to how internet literacy is essential today.

How can AI be used in recruitment to avoid bias?

AI can be used to widen the pool of potential applicants by focusing on skills rather than previous job titles or degrees. This approach can help bring in more diverse candidates, but it is crucial to have humans at the forefront to ensure fairness and avoid bias.

What are some of the fastest-growing roles that didn't exist 20-25 years ago?

Many of the fastest-growing roles today are oriented towards sustainability, green skills, diversity and inclusion, and AI and generative AI. However, there are also traditional roles in healthcare and construction that continue to grow rapidly.

How has the demand for AI skills in job advertisements changed recently?

There has been a significant increase in job ads requiring AI skills, with a 21-fold increase in just one year globally, reflecting employers' desire to integrate AI into their processes and systems.

What AI skills should individuals develop to future-proof their careers?

Individuals do not need to become AI experts but should be literate with AI tools. Microlearning and taking online courses to understand AI's application in their work can be beneficial. Focusing on prompt engineering and AI in business can provide a basic understanding without being overwhelming.

What are the potential risks of relying too much on AI, as seen with Google's Gemini app?

AI can sometimes generate historically inaccurate or biased outputs, as seen with Google's Gemini app. It is crucial to be attentive to these risks and ensure that AI is used as a tool to aid human decision-making rather than perpetuating bias.

Will the mass adoption of AI in the future create or destroy more jobs?

Historically, technological advancements have led to the creation of more jobs overall. While some jobs may be lost in the transition, the mass adoption of AI is likely to result in new job opportunities that we cannot yet imagine, as well as roles that have grown significantly in recent years.

Outlines

00:00

🤖 Impact of Generative AI on Occupations

This paragraph discusses the varying impact of generative AI on different occupations. It suggests that some jobs, like locksmiths, physical therapists, nurses, and doctors, will be insulated from AI disruption due to their inherently human and personal interaction aspects. In contrast, roles like librarians and legal clerks may face disruption as generative AI could take over tasks such as summarizing data. The speaker emphasizes the importance of upskilling and adapting to AI rather than fearing job replacement. It also highlights the synergy between human and AI skills as the sweet spot in the workplace, with examples like user experience technicians, web designers, and software engineers benefiting from generative AI by taking over some tasks and allowing humans to focus on more creative and high cognitive load work.

05:01

🌐 Universal AI Literacy and its Role in Recruitment

The speaker predicts a future where everyone will have a basic understanding of AI and its integration into work processes, much like internet literacy today. They estimate this stage is 5-7 years away and stress the importance of starting to adapt now. The paragraph also discusses AI's potential in recruitment to help employers find suitable candidates by widening the net of potential applicants based on skills rather than previous job titles or degrees. The speaker addresses AI bias, citing the Amazon example, and emphasizes the need for human oversight in recruitment tools to ensure fairness and diversity. They suggest that AI should be used as a tool to aid recruiters, not to exclude candidates, and highlight the emergence of new roles that didn't exist in the past, particularly in sustainability, diversity, and AI fields.

Keywords

💡Generative AI

Generative AI refers to artificial intelligence systems that are capable of creating new content, such as text, images, or music. In the context of the video, generative AI is seen as a transformative technology that can augment certain occupations, disrupt others, and potentially insulate some from significant changes. For instance, jobs like locksmith, physical therapist, nurse, and doctor are considered somewhat insulated from the impact of generative AI, as these roles require a high degree of human interaction and cannot be fully replicated by AI. However, generative AI can still play a supportive role, enhancing the capabilities of these professionals.

💡Upskilling

Upskilling refers to the process of improving one's skills and abilities, often through training and education, to meet new job requirements or industry changes. In the video, upskilling is presented as a critical strategy for workers to adapt to the changing job landscape brought about by generative AI. By upskilling, individuals can ensure their relevance and competitiveness in the job market, even as AI technologies evolve and take on more tasks.

💡Occupations

Occupations refer to specific jobs or roles that individuals perform in various industries. The video discusses how different occupations will be affected differently by generative AI. Some jobs, like librarian and legal clerk, may see tasks performed by AI, while others, such as those in healthcare and construction, continue to grow rapidly and require human skills that AI cannot easily replicate. The emphasis is on understanding how AI will interact with various occupations and preparing accordingly.

💡Synergy

Synergy is the interaction or cooperation of two or more elements to produce a combined effect that is greater than the sum of their individual effects. In the context of the video, synergy between human and AI refers to the potential for AI to work alongside human workers, enhancing their productivity and allowing them to focus on more complex tasks. This collaborative approach is seen as a 'sweet spot' in the workplace, where the combination of human creativity and AI capabilities leads to better outcomes.

💡Recruitment

Recruitment refers to the process of attracting, screening, and hiring new employees. The video discusses how AI can assist in recruitment by widening the pool of potential candidates and helping recruiters find the best fit more efficiently. However, it also highlights the importance of human oversight to ensure that AI tools do not perpetuate biases or discriminate against certain groups of applicants.

💡AI Bias

AI bias refers to the tendency of artificial intelligence systems to make decisions or recommendations that unfairly favor certain groups or individuals over others. The video mentions instances where AI has shown bias, such as in the case of Amazon's recruitment tool, which reportedly discriminated against women. It emphasizes the need for vigilance and the inclusion of human judgment to mitigate such biases and ensure fair outcomes in AI-assisted processes.

💡Job Ads

Job ads are advertisements that communicate job vacancies to potential applicants. The video notes a significant increase in job ads requiring AI skills, indicating a growing demand for professionals who understand and can work with AI technologies. This trend reflects the increasing importance of AI in various industries and the need for workers to develop relevant skills to stay competitive in the job market.

💡Microlearning

Microlearning is a method of teaching and learning that involves providing small, focused, and easily digestible pieces of information or lessons. In the context of the video, microlearning is suggested as a practical approach for individuals to increase their understanding of AI and develop relevant skills without being overwhelmed. It involves taking short courses or learning modules that can fit into a busy schedule and provide a basic understanding of AI applications in various fields.

💡Prompt Engineering

Prompt engineering is the process of designing and refining the prompts or inputs given to AI systems to guide their output. In the video, it is mentioned as one of the AI-related skills that individuals can learn to better utilize AI tools in their work. Understanding prompt engineering can help professionals effectively communicate their needs to AI systems and achieve desired results.

💡Economic Impact

The economic impact of AI refers to the effects that AI technologies have on the economy, including job creation, productivity improvements, and changes in industry structures. The video suggests that, historically, technological advancements have led to the creation of more jobs than they have displaced. It highlights the importance of considering the transition costs for those disproportionately affected by technological changes and the potential for AI to generate new types of jobs that we cannot currently imagine.

💡Sustainability

Sustainability refers to the ability to maintain or improve the well-being of current and future generations without depleting resources or causing environmental harm. In the video, it is noted that there is a growing focus on sustainability in job roles, indicating a shift towards occupations that contribute to a more sustainable future. This could include roles related to green energy, environmental conservation, and sustainable development practices.

Highlights

Generative AI is changing the workplace by augmenting some occupations and disrupting others.

Roles like locksmith, physical therapist, nurse, and doctor are likely to be insulated from generative AI.

Occupations such as librarian and legal clerk may be disrupted as many tasks could be performed by generative AI.

People should consider upskilling rather than fearing replacement by AI.

Occupations that benefit most from generative AI are those that combine human skills with AI replicable skills.

Examples of such occupations include user experience technicians, web designers, and software engineers.

AI is expected to become as essential as internet literacy for job applications in the future.

AI can save employers time by filtering through candidates more efficiently.

AI bias is a concern, but tools are designed to widen the net of potential applicants, not to exclude.

The presence of a human recruiter is crucial to ensure the best candidate is hired despite AI assistance.

Many of the fastest-growing roles today did not exist 20-25 years ago, indicating the dynamic nature of job markets.

There's a significant increase in job ads requiring AI skills, with a 21-fold increase in the past year.

Individuals are increasingly adding AI skills to their profiles, with a notable growth in Australia.

Learning AI skills doesn't require mastery but rather a basic understanding and literacy with AI tools.

Microlearning and online courses can help individuals gain familiarity with AI without becoming experts.

AI bias incidents, such as with Google's Gemini app, serve as a warning about the risks of relying too much on AI.

The mass adoption of AI is likely to create more jobs than it displaces, although some jobs will be lost in the transition.

It's important to consider those who might bear the cost of technological transitions disproportionately.

AI has the potential to create jobs we can't even imagine yet, following historical patterns of technological advancement.