Booming and shrinking careers in the age of AI

In the 3rd industrial revolution, manual processes were digitized with the introduction of personal computers. And now, in the next phase, we're seeing amazing technologies like IoT, AI, machine learning, cloud computing, VR, and AR. This era is known as digitalization. It's incredible how much data is being generated today through the use of IoT. Take smart agriculture, for example. It generates a lot of real-time data, which allows for automation and streamlining of processes. The question that arises is what can we do with all this big data? It's fascinating to think about how we're moving towards artificial general intelligence and eventually artificial super intelligence, where AI can do things even better. It's interesting to note that Sri Lanka is facing challenges in the digitization stage, even though we're talking about the industrial revolution 5.0.

 

Sri Lankan context – How industries are adopting to AI

It's interesting to note that until Covid hit, Sri Lankan companies didn't really prioritize these technological aspects. Supermarket chains are now using data analytics to boost their revenue. They collect point of sales data to analyze customer behavior, and AI tools like Review Pro help them analyze customer experiences and sentiments. This data is then presented on a dashboard for easy access. Hotels are also leveraging AI to position themselves competitively in the market from a customer perspective. It's fascinating to see how many companies in Sri Lanka are investing in AI. For example, Dilmah company is using robots for packaging, eliminating the need for human touch even with raw materials. It's crucial for machine operators in factories to have knowledge of operating AI machines. It seems like the private sector in Sri Lanka is really embracing technology and making significant investments. It'll be interesting to see how these advancements continue to shape various industries.

 

HR point of view- Opportunities and growth with AI

 

AI is definitely something that's happening all around us. It's important for us to address how we can effectively manage and boost productivity with AI. Rather than seeing AI as a competitor, we should focus on using it as a tool. Some people may have fears about AI, but it's crucial to think about the skills humans should possess in the future.  One of the Google executives suggested the government allocate 98% tax on AI so that money can be allocated to people who lose their jobs in future. It will be that serious in 2037.

 

In HR, newspaper publications were used in the past. Manual application screening was done. But presently, technology helps in those processes. Just like when calculators and machines were introduced, jobs didn't disappear but rather evolved, and the required skill sets changed. In the future, knowledge will be readily available everywhere. The key is how we can leverage that data to enhance productivity and our lives. Even in HR, while technology can assist with processes, the human touch is always needed.

 

If we use AI in the selection process, AI may be the fastest to select the wrong person as the application will not describe the applicant exactly. Certain jobs that require a combination of both brain and heart won't be replaced by AI. However, jobs in IT and other fields may require different skills and creativity to work alongside AI. Some jobs, like HR managers, lawyers, judges, and medical practitioners, can't be fully replaced by AI. AI can actually complement these jobs, making them more efficient and productive.

 

To stay ahead, it's crucial for us to focus on adaptability, resilience, and continuous learning. We need to reskill and upskill ourselves to effectively use technology and AI as tools, rather than seeing them as competitors that take away our jobs. It's all about embracing and harnessing the power of AI for our benefit.

 

Education sector

             

Everything is changing so quickly these days, and it's important to stay aware of what's happening. Machines are definitely improving in many areas, especially when it comes to data gathering and analysis. However, there are certain skills that AI currently cannot replicate, such as leadership, empathy, innovative thinking, and creative thinking. These are qualities that will remain valuable for a long time. Instead of viewing machines as competitors, we should focus on identifying what we can do better and work on improving those skills. AI can provide us with insights and sentiments that we can use to enhance our own abilities. Continuous learning is key, and our education systems should incorporate that aspect. It's crucial for us to embrace technology and work with it, rather than against it. By adopting and leveraging technology, we can shape a better future.

 

Industry expectations from students
 

Being a business translator is crucial in today's world. Translating data into business intelligence and analytics is incredibly important, especially with the increasing focus on digital marketing by companies. It's understandable that some students may be afraid of AI, but it's important to remember that AI is not an enemy. It's here to assist us and provide valuable insights.

 

To make informed decisions, students should possess common sense and agility. It's essential to utilize their time on activities that will have a positive impact on their career. Luckily, there are free learning platforms available to help students become data-savvy.

 

Many aspects of companies are shifting towards being data-driven, and everyone will need to adapt to AI. It's crucial to continuously improve ourselves and have a clear understanding of where the market is heading. Learning should never stop, and according to the "futures job report" of 2023, 44% of core skills will be replaced by 2025. This means that we need to focus on upskilling and reskilling.

 

Companies are investing in educational opportunities to support this transition, so it's important to take advantage of them. Don't be afraid to think outside the box and come up with creative solutions for life. Always strive to improve yourself and think about how you can grow.

Author: T.N.G. Perera (204391)

Source: Round table discussion- WAYACiM 2023