We Are Living In An Artificial Intelligence (Ai) Revolution

We live in an artificial intelligence (AI) revolution, shaping businesses and contributing an estimated $14 trillion to the global economy over the next decade. 

Ai Can Handle Massive Data

While AI excels in management, handling data and automating routine tasks, it fails in leadership qualities that involve charisma, vision, and the ability to inspire people. In the financial sector, AI excels in tasks like stock market analysis, background checks, and number crunching within databases and spreadsheets, likely leading to significant job reductions in bank branches. We are also experiencing The Internet of Things (IoT) as a push in the digital economy, with the help of the fast 5G internet, connecting individuals, homes, automobiles, workplaces, insurance companies, and hospitals with products for real-time monitoring. Sectors like healthcare and "smart city" initiatives benefit from IoT applications, causing again a potential negative impact on jobs. 

Military & Healthcare

Additionally, AI is employed in diverse sectors, from national defence, from smart body armour of military personnel to drone technology and satellite technology to healthcare, where it efficiently scans or medical images for cancer tumours and sugar levels within the blood system. 

Presently, Human Leadership Excels For How Long?

Our unique human attributes of leadership skills, such as soft skills and empathy, mental agility and creativity, will be part of our career pathway skills for future employment. Even in many sectors, we are collaborating with artificial intelligence with hour jobs and careers complementing human skills, freeing us to be more human and fostering a work environment where leadership remains a distinctly human domain. With Millennials and Generation Z in the workforce, there will be a preference for flatter, collaborative structures and diversity of leadership.

Ai Maybe Better Managers

Ai is reshaping manufacturing and management opportunities and advancements. While automation technology is becoming standard across industries, human judgment and interpersonal skills remain irreplaceable. Economists are predicting job automation due to AI; however, due to humans being subjective, we will have soft, empathetic types of professions available, like mental health therapy, marketing, human resources, etc.

Gig Economy

As the workplace evolves, the gig economy continues to expand in different areas of the service sector, offering flexibility and cost-effectiveness, demanding new management skills to sustain communication and provide training. Career customization is becoming more critical for high school students and 20, 30, and 40-year-olds as the corporate ladder shifts to a lattice structure, allowing lateral and multidirectional career advancements. Managing reputation and brand, especially with social media, emphasizes the need for ethical/professional citizenship. While technology enhances efficiency, the human touch remains essential for an empathetic and successful workplace.

Lifelong Learning: A Must

With the very fast-paced evolution of this type of machine learning technology, unskilled individuals with only high school as formal education may be at a significant disadvantage with higher unemployment and possible subjects of social issues. Lifelong learning is crucial for us to adapt to evolving job requirements, and remote learning continues to be an ever-increasing valuable asset.

Conclusion

This digital economy, reliant on automated robots and Ai, is an economically powerful force in the evolving machine-learning revolution.