Rise of Artificial Intelligence: the threat of jobless future or better job opportunities through reskilling and upskilling

The Threat of a Jobless Future

The fear of widespread job displacement due to AI is not unfounded. Automation, powered by AI, is already impacting routine and repetitive tasks across various sectors.

• Manufacturing: Robots and automated systems have been replacing assembly line workers for decades, a trend accelerating with AI-powered robotics.
• Transportation: Self-driving vehicles threaten the livelihoods of millions of truck drivers, taxi drivers, and delivery personnel.
• Customer Service: Chatbots and AI-powered virtual assistants are increasingly handling customer inquiries, reducing the need for human agents.
• White-Collar Jobs: AI is now capable of performing tasks previously considered the domain of skilled professionals, such as data analysis, legal research, and even content creation.

A 2017 report by McKinsey Global Institute estimated that between 400 million and 800 million jobs globally could be automated by 2030. Furthermore, the impact won’t be uniform. Low-skilled and middle-skilled workers are disproportionately vulnerable, potentially exacerbating existing inequalities. The ‘hollowing out’ of the middle class is a significant concern.

However, it’s crucial to note that technological disruption has historically led to job displacement, but also to the creation of new jobs. The key difference with AI is the speed and scale of the potential disruption.

Opportunities Through Reskilling and Upskilling

While AI may automate certain tasks, it also creates new opportunities, particularly for those with the skills to develop, implement, and maintain AI systems.

• AI Specialists: Demand for AI engineers, data scientists, machine learning specialists, and AI ethicists is soaring.
• AI-Augmented Roles: Many jobs will not be entirely replaced by AI but will be augmented by it, requiring workers to collaborate with AI systems. This necessitates skills in data interpretation, critical thinking, and problem-solving.
• New Industries & Roles: AI is fostering the emergence of entirely new industries and job roles that didn't exist before, such as prompt engineers (designing effective prompts for large language models).
• Focus on ‘Human’ Skills: AI excels at tasks requiring logic and computation, but struggles with creativity, emotional intelligence, and complex interpersonal skills. Jobs requiring these ‘human’ skills are likely to be more resilient.

Reskilling and upskilling are therefore paramount. Initiatives like the National Skills Development Corporation (NSDC) in India, launched in 2008, aim to provide vocational training and skill development programs. However, these programs need to be significantly scaled up and adapted to meet the evolving demands of the AI-driven economy. Emphasis should be placed on lifelong learning and continuous skill development.

The Role of Government & Industry

Addressing the challenges and harnessing the opportunities presented by AI requires a collaborative effort between governments and industry.

• Government Policies: Governments need to invest in education and training programs, promote digital literacy, and create a regulatory framework that fosters innovation while mitigating risks. The National Education Policy (NEP) 2020 emphasizes skill development and integration of technology in education.
• Industry Initiatives: Companies have a responsibility to invest in reskilling their workforce and providing opportunities for employees to adapt to new roles. They should also collaborate with educational institutions to develop curricula that align with industry needs.
• Social Safety Nets: In the short term, governments may need to strengthen social safety nets, such as unemployment benefits and universal basic income, to support workers displaced by automation.
• Ethical Considerations: Developing ethical guidelines for AI development and deployment is crucial to ensure fairness, transparency, and accountability.

Global Perspective

The impact of AI on the job market is a global phenomenon. Different countries are adopting different approaches to address the challenges and opportunities.

Country	Approach
Singapore	‘SkillsFuture’ initiative – national movement to promote lifelong learning and skills development.
Germany	Focus on ‘Industrie 4.0’ – integrating AI and automation into manufacturing processes, with emphasis on worker training.
United States	Private sector-led innovation, with government funding for AI research and development.
China	Ambitious national AI strategy, with significant investment in AI research and development and deployment.

India, with its large young population and growing digital economy, has the potential to become a global hub for AI innovation and talent. However, it needs to address challenges such as digital divide, lack of infrastructure, and skill gaps.