Company leaders are attempting to balance the dual priorities of better employee conditions and higher profits in the wake of the rapid advancement of artificial intelligence. According to Pedro Uria-Recio, Chief Data and AI Officer of CIMB Group, companies have a responsibility to safeguard employment since the surge in AI could lead to increased unemployment and inequality. He noted the potential for significant job displacement, leaving many individuals with few opportunities.
The U.N. Trade and Development agency has projected that AI technologies could impact up to 40% of jobs globally, intensifying disparities among nations. Thus, organizations are urged to provide employees with the skills necessary to thrive in this evolving technological landscape while simultaneously creating new job opportunities.
However, not all industry leaders concur on the best course of action. Tomasz Kurczyk, chief information technology officer at Prudential Singapore, flatly says that focusing solely on job protection may not be the most effective strategy, suggesting that adaptation is paramount in the face of the inevitable changes being caused by AI advancements.
Despite fears regarding AI’s workforce impact, many experts remain hopeful about its overall societal impact. Kurczyk hopes AI will foster a resurgence of artisanal work for humans, thereby generating new employment opportunities, and he thinks that emergent inequalities can be mitigated through collective efforts by educational institutions, governments and corporations.
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