Sunday, May 19, 2024

Week 3: MKTG 6101- Ch 3 Tsunami Surfing: How AI is Transforming the Job Market?

 


AI tools like ChatGPT and Google’s AI software are revolutionizing tasks such as data analysis, content creation, and presentations. While AI will displace some jobs, it will also create new ones, specifically in areas that can adapt to technological changes. AI promises to increase productivity, improve healthcare, and enhance access to education, but it is also a threat in manual, repetitive jobs. The economic impact of AI could add $13 trillion to the global economy by 2030, largely due to labor substitution and product innovation. AI might replace 300 million full-time jobs affecting white-collar workers and manufacturing jobs. But it will also open up more jobs in new areas. Positions like customer service representatives, receptionists, accountants, salespeople, researchers, warehouse workers, retail workers are highly susceptible to automation. On the other hand, jobs that require human interaction, complex decision-making (teachers, lawyers, surgeons, and artists) are less likely to be replaced by AI.


Embracing lifelong learning, developing soft skills, and specializing in specific areas are crucial for staying relevant in the AI-driven job market. AI will significantly change the job landscape. Those who adapt to acquiring new skills and embracing AI technologies will thrive. Collaborate with AI teams to help better understand AI applications and integrate them into your workflow. 



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