Automation Banking Research

Is Artificial Intelligence A Job Killer Or Creator?

The incredible possibilities () presents – and also its potential challenges – have made it an important talking point. Of course, there are a lot of myths out there about . Some like Alibaba founder Jack Ma said is not only a massive threat to jobs but could also spark World War III. Not only Ma, opinions are divided in the industry on whether is a job killer or a job creator.

According to a recent report published by MIT Technology Review , will not exactly eliminate jobs, but it will deconstruct them in the near future. The CXOs in the Asian who were surveyed for this research, believe that the impact of and on their business performance will be immediate, profound, and positive. Even then, only a handful of enterprises are leveraging on this potential at the moment, leaving rooms for ample training and development in this area.

is changing human talent

As the report re-examined trends in this region where and automation are already changing the ways firms manage and develop human talent. For example, the skills and talent pools created by India’s IT ecosystem are seen as an asset that could make it a globally competitive producer of software and applications. In China, significant research and investment is offering real possibility of securing a leading role in defining globally.

Notable among other regions, Singapore is keen to future-proof its economy through , leading to a focus on applications poised to redefine the city-state’s role as one of the world’s most important finance centers. The report shows, Australia is fostering development in healthcare, financial services, and in a green-economy focus on energy and utilities.

Missing skilled workers in Asia

While the overall adoption and interest scenario seem to be positive, the study showed, much of Asia lacks the depth of technical skills and R&D facilities needed to keep pace with development, there are significant pockets of the ‘natural resources’ Asian economies need to promote and develop their own machine- capabilities.

China, India and other large Asian economies generate a copious amount of data, which is critical to pushing ’s capabilities forward. Australia and Singapore, despite their small sizes, each punch well above their weight in the development of ‘indigenous’ R&D resources, and have clear visions for how machine can complement and enhance the competitiveness of their established leading industries.

Ironically, given a common presumption that will be responsible for disintermediation of jobs at all levels, it is Asia’s massive human capital dividend—the billions of constantly Internet-connected workers and consumers –that will propel development in the region farther and faster. may start to disintermediate roles and responsibilities across Asia’s economies, but it will enhance and redefine far more capabilities, and increase the productivity of all firms and workers, says the study.  […]

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