L2 - Future of Work

• The world of work is undergoing rapid and profound changes due to technological innovation, demographic shifts, environmental challenges and social transformation
• These changes have implications for Workers, Employers, Policymakers, Educators and society at large
• How can we understand and shape the future of work in a way that ensures decent work for all, promotes social justice and inclusion, and fosters sustainable development
• Trends Shaping the Future of Work

  • Globalisation
  • Social and Demographic Changes
  • Political and Economic Uncertainty
  • Technological Change
• First Industrial Revolution


  Transition from an agricultural and handicraft economy to one dominated by industry and manufacturing, driven by innovations like steam engines, textile machines, and iron productions
• Second Industrial Revolution


  Expansion of industrialization to new sectors like steel, oil, electricity, automobiles and telecommunication, driven by innovations like internal combustion engine, assembly lines, electric power plants, radio and airplanes
• Third Industrial Revolution


  Emergence of digital technologies that enabled automation, information processing and communication across various industries, driven by innovations like computers, microelectronics, internet and biotechnology
• Fourth Industrial Revolution


  Trend towards automation and data exchange in manufacturing technologies and processes, including cyber physical systems, (IOT), Industrial Internet of Things, Cloud Computing, Cognitive Computing and Artificial Intelligence
• COVID-19 has accelerated the Fourth Industrial Revolution and the Future of Work
• Artificial Intelligence (AI)


  The ability of a computer or a robot to perform tasks that normally require human intelligence
• Machine Learning


  A field at the intersection of computer science, mathematics and statistics that focuses on development of algorithms that can analyse data to identify regularities that can be used to make predictions, recommendations and decisions
• Deep Learning


  A special type of Machine Learning that identifies highly complex mathematical equations and parameters to solve complex problems like computer vision, speech recognition and natural language processing
• Generative Artificial Intelligence (GENAI)

  Algorithms that can create new content like text, images, audio, video and code that didn't exist before, by learning from existing samples

  
• Large Language Model (LLM)


  A type of Natural Language Processing System that uses very large neural networks to learn from and generate text
• Artificial Intelligence is the most important technology for business, the economy and society, and the driving force behind the Fourth Industrial Revolution
• Occupations most susceptible to computerization

  • Maths Technicians
  • Insurance Underwriters
  • Legal Secretaries
  • Dental lab Technicians
  • Nuclear power reactor operators
  • Paralegals and legal assistants
  • Auditors and Accountants
  • Tax examiners & collectors and revenue agents
• Occupations less susceptible to computerization

  • Real Estate Agent, Sales Agent
  • Librarians
  • Market Research Analyst and marketing Specialist
  • Personnel Financial Advisor
• The rise of soft skills is becoming more important as jobs become more susceptible to automation
• Generative AI is affecting highly educated and skilled jobs, or 'white collar' jobs, that were previously seen as immune from automation
• Occupational sectors and roles exposed to disruptions from Generative AI


  • HR
  • Lawyers
  • Financial Analysts
  • Teachers
• Occupations ranked by exposure to Generative AI

  • Highest exposure
  • Moderate exposure
  • Lowest exposure
• What organizations can do to prepare for the future

  • Workforce Planning
  • Job Design - Redesign Jobs
  • Education-Training and Re-skilling (AI Skills)
  • Focus on Power Skills
  • Create a culture of lifelong learning
• What governments can do to prepare for the future

  • Invest in education and training
  • Accelerate Digital Transformation
  • Innovative policies to support Learning and Development
  • Public – Private partnership to address skills gaps and quality of work
  • Expand access to digital learning platforms and quality education and training systems
• What individuals can do to prepare for the future

  • Embrace a culture of lifelong learning
  • Develop soft skills such as Analytical skills, problem solving, critical thinking, communication and colorations
  • Leverage online courses, on the job training methods and coaching and mentoring as preferred learning methods
  • Pursue learning goals that aligns with their interest, aspirations and career goals
• HR Jobs of the Future

  • Strategic HR Business Continuity Director
  • Chatbox and Human Facilitator
  • HR Data Detective
  • Algorithm Bias Auditor
  • WFH Facilitator

  
• Generative AI will have significant implications for HR functions