Future of Work & Its Implications With Dr. Ritesh Malik

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The Future Of Work

Work, a substantial word that affects all modern human lives. Humans spend most of their adult lives working in different jobs under different sectors which include the likes of transportation, logistics, financial services, administrative support, IT to healthcare.

Will there be jobs for human in future? Is this an issue you dealt with over the years? Did the way you work change over the last years with the upcoming influence of automatization and computers? Let’s find out!

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1. Technology – The Facilitator

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The future of work isn’t about the displacement of work by machines but rather has more to do with the restructuring of the human skillset.

A. New Job Roles & New Skills: 

i) In the near future, job titles and new skill sets may emerge and expand into the occupational shift of the working industry.

ii) Soft skills such as communication, teamwork and marketing may be forced to go under an overhaul to facilitate the use of a lot of automation.

B. Automation, Data & Cloud Processing: With apps taking the world by storm, chatbots being able to handle customer support, machines being able to process algorithms and jobs beginning to be automated, technology is rapidly being integrated into all our work lives.

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C. Removing Weakness & Solving Complex Problems: This future synergy will be in the form of Human Mind extension as in the AI will enable us to solve bigger problems of humanity and complex challenges with the efficiency and accuracy of Machines contributing in removing human weakness and shaping a better future.

2. Machine Learning & Interaction With The World

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Technology actually changes the way how we interact with the world. The advent of machine learning augmented reality and AI is the progression of the way we interact with the world itself.

The future of work is actually quite bright if we keep the benefits of such technologies in mind.

A. Jobs Or Not?

i) Artificial Intelligence and human knowledge is actually complementary in nature rather than being substitutional.

ii) Human knowledge is a social construct which can never be materialised by a machine. Hence, it takes out the question of huge no. of job losses!

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B. Ethical Issue of Self Driven Cars:

i) This logic can be easily applied to self-driving cars which can be bogged down by an ethical problem.

ii) For example, during a car crash, artificial intelligence & learning may find it difficult to comprehend between saving between two human lives.

C. Flagship Feature of Technology: The same can be applied with to construct of Autopilot feature in the aviation industry. While it can act as a flagship feature of the advancement of machine learning and technology, it can never replace the need of a pilot who will actively have a managerial or supervisory role in nature.

While people may argue that drone has already negated the need for direct human control, it isn’t to say that such action cannot be copied in a situation with human lives at stake.

3. A New Paradigm of Work

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Apple co-founder Steve Jobs said that “it’s technology married with liberal arts, married with the humanities, that yields us the result that makes our heart sing.”

A. Reskilling Our Markets: As the labour market and skills are to be automated in some form or another, individuals will have to involve themselves in lifelong re-learning and re-skilling process for finding work and careers which fits the need of the time. New times will create new problems for every generation to solve and be paid for it.

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B. Imitating Human Emotions: AI future aims to imitate humans emotions and behaviour, the study of liberal- languages, art, history, economics, ethics, philosophy, psychology and human development courses can teach critical, philosophical and ethics-based skills in perfecting what automated machines we are trying to build.

Emotions and psychology study will be an important skill set in the future workforce.

4. Society and Workforce:

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A. Future Education:

i) Education in schools and colleges won’t be relevant to the future requirement of work. People will have to reinvent themselves again and again, and faster and faster. 

ii) Work in the future will be about trying to solve problems in innovative ways and getting better judgement other than physical efforts.

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B. Unimagined Opportunities:

i) There will be hundreds of new careers opportunities created from an industry created by AI and humans can the architects of emotions and behaviours. 

ii) As global productivity increases, choices for new work unimagined before will flood the market and will disrupt what we define what work is now.

Work may become less but competency and choices to learn, create and build better and new things can be possible. Humans limits and exploration will be tested.

5. Business Opportunities and Adaptation:

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A. Productivity & Optimal Utilisation: 

i) For companies and industries as a whole, productivity will be fruitful if adaptation and automation are rightfully placed.

ii) Hard decisions have to made regarding replacement and also optimal utilization of manpower by identifying, reskilling and introducing learning will be critical in developing talent which will be running the future of work.

6. Government:

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A. Future Economic Growth – Like Business organisations, policy-makers, reskilling and retraining the existing workforce are essential levers to fuel future economic growth, infusing societal DNA in the face of technological disruption and develop future-ready education system.

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B. From Blockchain To AI: The future of work and governmental systems is going to be based on decentralisation in management by AI and blockchain technologies, thereby improving the economic growth of the country and paving way for increased minimum wages and social welfare programs.

From Henry Ford’s decision to shift to an assembly line mode of production to the liberalisation of the Indian Economy in 1991, advances in modern technology have always been dealt with caution at first.

However, irrespective of the location or the time, technology has always turned out to be the facilitator and not a hindrance to the growth of jobs.

CONNECT With Dr Ritesh Malik – @drriteshmalik

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