Talila Millman’s Post

"While the total number of jobs directly lost to #generativeAI remains low, some of these companies and others have linked cuts to new #productivity-boosting technologies like machine learning and other AI applications.... Some of the job cuts taking place already are a direct result of the changes coming from AI. Other companies are cutting jobs to spend more money on the promise of AI and under pressure to operate more efficiently.... Still, business leaders across the economy say they expect the new technology will #augment and elevate some #whitecollar roles, giving employees and managers the means to do more meaningful work—both for their companies and in their careers." #airevolution #knowledgeworkers #futureofwork #productivity #innovation #transformation #homeshoring #wideningturn

Takeaway: Generative AI could soon upend a much bigger share of white-collar jobs, including middle and high-level managers, according to company consultants and executives. As AI adoption grows, it is likely to reconfigure management hierarchies, the Oliver Wyman study projects. Entry-level workers are likely to bear the initial brunt as more of their duties are automated away. In turn, future entry-level work will look more like first-level management roles.

AI taking your job? Please! My grandfather heard that when the first calculator showed up in his business. Every new tech, the same fear-mongering. Do you know what happened to him? He learned to USE the calculator. It got way better at the complex stuff it couldn't touch – budgets, strategy, actually helping clients vs. endless addition. Same deal with AI, just on a bigger scale. The boring work is gone. Now your brain has space to build what those bots can't. Empathy, real-world problem-solving, that creative spark... THOSE are the skills of the future (well, already the present, if you ask me). Oh, and being able to train that AI like a super-efficient intern so it does the dull bits… yeah, sign me up for THAT job security. History has a habit of rhyming. Remember those folks who were afraid the Internet would shut down many businesses? It did, but it created whole new opportunities! My challenge isn't "save the jobs," it's "how do we get folks the right skills?" I mentored someone switching from data entry to AI – a mind-blowing shift, and yes, they're thriving. We have to make those bridges easier to find for everyone, or those job loss prophecies become real... but not because of the darn robots. Is anybody else out there working on upskilling for this crazy AI world? Or feeling scared they're going to be "automated away"? Let me know what you're seeing. #AI, #aiadoption #WSJ, Cate Chapman, #innovation https://lnkd.in/eZBtgNmG

"AI Is Starting to Threaten White-Collar Jobs. Few Industries Are Immune. Leaders say the fast-evolving technology means many jobs might never return" — Wall Street Journal, February 12, 2024 Not exactly news at this point, but the tone is getting decidedly more morose. The writing on the wall has warned of a 'jobless' economy almost since the beginning of the industrial age. Not rocket science to see how Smart Machines might displace not so smart people with precision, speed and reliability un-dreamed of with the human workforce. That they also may be smarter and more capable is only the stuff of science fiction it seems. But the Working Class has done virtually nothing to deal with this inevitable 'jobless' world that's about to come crashing down on them. Not the Wealthy of course - they expect to OWN the technology, all the means of production, and not coincidentally, all the money. For those who missed it, that's the beauty of Capitalism... you don't really ever have to share. If you're just waking up to the fact of your unplanned obsolescence, you have some serious catching up to do. And I'll give you a hint - the current economic paradigm isn't going to work any better tomorrow than it does today. And when you're out of work, Dear Hearts, you're out of much more than luck.

Here comes the stories on Ai taking jobs! It is exciting to be in the front row of the implications for college students. Anyone who does not embrace AI will find themselves at a disadvantage in terms of skills, career opportunities, job security, and ability to innovate and remain competitive in the fast evolving job market. Here is my take...( my class is big on the "why", "what" and "how" of business). The division of labor between AI and humans in business will follow these lines. The "How" with AI: AI excels at handling repetitive tasks, data analysis, and process optimization. Businesses will increasingly rely on AI for these functions, allowing for greater efficiency, accuracy, and scalability in operations. The "Why" and "What" with Humans: The "Why" involves leadership skills of strategic decision-making, long-term planning, and understanding the broader purpose and goals of the business. The "What" pertains to creativity, innovation, and empathetic understanding of customer needs and management of "the how". These aspects require human intuition, emotional intelligence, and a deep understanding of complex social and cultural contexts. Heart and Humanity: While AI can enhance business operations, the human touch remains essential for building meaningful relationships, fostering trust, and creating a positive impact on society. Human employees bring empathy, ethics, and values to the table, ensuring that businesses operate with integrity and serve the needs of diverse stakeholders, especially customers. In summary, AI will handle the technical "how" of business, while humans will continue to drive the strategic "why" and creative "what" aspects, infusing businesses with heart, humanity, and purpose. Just be careful if you were raised to be a specialized techician who does HOW work. Will the generalist flourish verse the specialist? Who knows, maybe the Liberal Arts will make a come back :). Let AI handle the mundane (logic?), you bring the heart and soul! Showcase your creativity, problem-solving prowess, and critical thinking skills—the qualities that set you apart in an AI-driven world and you will not be one of these statistics in this WSJ article. EQ beats IQ (now more than ever).

Interesting WSJ article on AI and its impact on work and the job market. #wsj #ai #jobs #careers #technology Unlike previous waves of automation technology, generative AI doesn’t just speed up routine tasks or make predictions by recognizing data patterns. It has the power to create content and synthesize ideas—in essence, the kind of knowledge work millions of people now do behind computers. That includes managerial roles, many of which might never come back, the corporate executives and consultants say. They predict the fast-evolving technology will revamp or replace work now done up and down the corporate ladder in industries ranging from technology to chemicals. Meanwhile, the number of professionals who now use generative AI in their daily work lives has surged. A majority of more than 15,000 workers in fields ranging from financial services to marketing analytics and professional services said they were using the technology at least once a week in late 2023, a sharp jump from May..." https://lnkd.in/eswYbScu

These articles should not be taken as causing fear. It is in everyone's interest to assess the risk to their specific work, skills and passion and take necessary measures. There is a saying floating around that "either you will drive AI or AI will drive you". I think that is too simplistic a way to look at it. I have mentioned "AI watching" as a role of the future. I believe the following statement from the article sums it up. "As AI adoption grows, it is likely to reconfigure management hierarchies, the Oliver Wyman study projects. Entry-level workers are likely to bear the initial brunt as more of their duties are automated away. In turn, future entry-level work will look more like first-level management roles." Article surce The Wall Street Journal #aiimpact #aiadoption

65% of jobs are anticipated to change drastically by the year 2030. Business knowledge will maintain its importance, and employers will need to focus even more on enhancing the skills of existing employees.

For years, automation has been changing the landscape of manufacturing jobs. Now, artificial intelligence (AI) is making its way into the corporate office, targeting higher-level positions. Recent layoffs at major companies like Google, Duolingo, and UPS have been linked to the adoption of productivity-boosting technologies, including machine learning and other AI applications. The impact of AI is not just theoretical; it's happening now. Companies are cutting jobs to invest in AI and operate more efficiently. For example, UPS announced it would cut 12,000 jobs, citing the use of machine learning to improve processes like pricing, which reduces the need for human workers. Meanwhile, the surge in professionals using generative AI in their daily work has significantly improved productivity across various fields. As AI continues to evolve, it's expected to reshape the structure of the workforce, potentially flattening layers of middle management and redefining entry-level roles to resemble more of first-level management tasks. However, there's also a positive outlook that AI will augment and elevate white-collar roles, allowing employees to engage in more meaningful work and develop new skills. Ray A. Smith notes that while the immediate impact of AI on job cuts is evident, the broader implications for the future of work are still unfolding. Generative AI's ability to automate complex tasks and the potential for redefining roles across industries signifies a major shift in the corporate world. 

The effect of AI on white-collar jobs will flatten middle management, and entry-level work will be more akin to first-level management roles. Business schools, particularly Management, need to start preparing now. #ai #highered #businessschools