Mumbai: The recent strides that have been made in the field of Artificial Intelligence have been enabled by the groundbreaking innovations in computing and large language models have been responsible for a big wave of automation in the IT ecosystem. When it specifically comes to the role of AI and automation in transforming the employment ecosystem, following points come to my mind.

The Impact of AI on Job Functions

Both AI and automation have impacted the demand and requirement of workforce across varied segments and occupations. In its ‘Future of Jobs’ report, the World Economic Forum (WEF) notes that around 23% of jobs would be disrupted in the next five years. During this period, while 83 million roles are projected to disappear,69 million new ones will emerge – a net deficit of 14 million jobs.[1]

Although factors such as AI would impact employment, technology will be the biggest driver of job changes. The emergence of generative AI tools is expected to accelerate these changes There will be a long-term trend towards more technology-oriented functions and a growing demand for digital specialists.

A closer analysis uncovers some positive takeaways. For example, even as AI automates several tasks, it’s the routine, repetitive roles that are automated. AI-driven tools, chatbots and virtual assistants are streamlining workflows and communication while permitting people to pay attention to high-value assignments.

By automating multiple tasks, AI is generating greater opportunities for the upskilling and reskilling of the workforce. As automation gathers momentum, people are acquiring new skill sets to remain relevant in the employment space. These skills complement AI programming, data analysis and interpretation, machine learning and more. Therefore, new jobs are being created as organisations deploy digital technologies that need skilled people to operate and maintain AI-powered systems.

AI-driven insights and data analysis enhance the decision-making processes of firms, permitting more well-informed, decisive strategies. Companies are also investing in training programmes to equip the workforce with the requisite skills that meet the requirements of AI technologies.

The ability of AI to process and analyse massive amounts of data is ensuring higher efficiencies and more productive outcomes.

As AI is integrated into various workplace functions, multiple issues are gaining prominence, including ethical considerations. In AI decision-making processes, fairness, transparency and accountability are crucial elements. However, while deploying AI, a human-centric approach is vital to make sure that the technology aids and complements human skills instead of replacing them.

Collaboration, Creativity and Soft Skills

To obtain optimal results, collaboration between human supervisors and AI tools is imperative to ensure that there is some level of oversight in the functioning of AI tools. Given this need, data scientists, AI engineers,programmers, machine learning specialists and cybersecurity experts, among others, are in great demand as organisations work to leverage AI’s vast potential. Increasingly, AI experts are playing a key role in designing, running and fine-tuning AI-enabled systems.

Even as concerns arise about the impact of AI on the overall jobs landscape, one cannot overlook the fact that people with high creativity,interpersonal and soft skills will continue to be in demand since there are areas where the human touch is essential.

As digitalisation grows by the day, organizations and employees who wish to stay future-ready will be required to nurture and develop a broad spectrum of emerging and evolving skills. This is the best way to meet the dynamic demands of the changing workplace environment where both digital expertise and soft skills will hold distinct importance.

Rather than considering the negative impacts of automation on jobs, it’s in the best interests of employees to embrace the change and upskill. It is important to remember that though some jobs may become obsolete, new roles will emerge simultaneously. This is precisely what happened in banking, e-commerce, and other industries. In the case of e-commerce, although the new industry affected traditional retail roles, it concurrently created new employment and entrepreneurial opportunities in digital payments, logistics, warehousing, and other domains.

The Advantage of Lifelong Learning

Keeping these factors in mind, entrepreneurs and employees should adapt to the changing business dynamics to help them retain relevance in the new age economy. Where businesses are concerned, they should invest in digital technologies to stay ahead of ongoing market disruptions. Furthermore, they must invest in trainingas well as learning and development programmes so their workforce can maintain its competitive edge.

As for employees, they should embrace the concept of lifelong learning to ensure their employability quotient remains high at all times despite digital disruptions. In today’s digital era, agility, adaptability,continuous learning and resilience are the best means for both employees and employers to be future-ready, competitive and relevant at all times.

The author of this article is Ritsuko Hidaka, Head of JDU – Fujitsu.