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I was having dinner with my long-time chum DeeSee this week and we reminisced a lot about our high school days.
He has an upcoming class reunion to mark 15 years since graduation.
Makes me friggin’ old just thinking about it.
During our convo, we talked about how much change has occurred since.
As a financial journalist, DeeSee has the perfect bird’s eye view of the trends and topics going on in the world today.
One of the biggest change we discussed, is the rise of the machines.
Now, as much as you might have enjoyed Arnie and Sarah Connor and Skynet, you’d be forgiven to think that they are just make-believe.
But no more.
The rise of automation and artificial intelligence (AI) is real and will displace millions of jobs in the economy in the coming decades.
Have a watch of this Youtube video below:
Following on from the video, I read this article by Business Insider, which stated tech and AI will displace 40% of Australian jobs by 2030.
And another article by fortune.com with a similar prediction of 40% of U.S. jobs given to robots by 2030 and the demand of the remaining jobs declining by over 40% as well.
Whether these predictions will occur or not, you’d be hard-pressed to ignore the fact job automation is well and truly here and here to stay.
Unfortunately it looks like jobs in the hospitality and tourism, transport, retail and administration sectors are most at risk:
I also found this cool chart from Visual Capitalist, which shows tasks involving physical & manual skills and basic cognitive skills (1 + 1 = windo… 2) will reduce – for example, factory work, customer service and basic data entry roles.
But there are some roles which machines can’t replace us humans in.
These are the ones needing empathy, creativity, negotiation, and critical thinking.
You better believe change is coming. AI and automation will also create jobs we can’t even imagine yet.
I wonder how DeeSee and I will reminisce about the next 15 years, for better or worse?
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