Every time I step into a lecture hall filled with hundreds of students, a sea of screens greets my view. From laptops to cellphones, little white squares light up the lecture hall and the clicking of keyboards rings in my ears. Looking around, I’ve realized that the days of paper notepads are long gone, with wooden pencils now replaced by Apple ones. I watch as my peers plug complex questions into ChatGPT, only for them to be answered by a quick click of the “enter” button. Between new devices, digital lectures and online platforms, technology is changing how we approach learning.
However, classrooms are far from the only area undergoing rapid digitization. As university students career search is always a topic of discussion and advancements in technology are changing the employment landscape. A report by Goldman Sachs claimed that Artificial Intelligence (AI) could replace the equivalent of 300 million full time jobs by 2030. How and why is technology changing the job market so rapidly?
The short answer – increased efficiency. Artificial intelligence offers faster and more effective ways of completing jobs typically ridden with human error and delay. Although increasing efficiency through technology has rapidly accelerated in recent decades, it’s not a concept new to the 21st century. We’ve seen this trend throughout history - consider the obsolescence of jobs such as elevator and switchboard operators in the 1940’s and 60’s. Routine or repetitive jobs can be performed at a higher level, eliminating many entry level jobs. The increased efficiency from AI also allows for an economic benefit by cutting costs. A recent survey from consulting company McKinsey & Company found that AI can improve business efficiency by up to 40% and reduce operational costs by 30%.
The pandemic has been largely responsible for the acceleration of job automation. MIT economist Daron Acemoglu stated that, “automation takes place faster during recession and sticks thereafter”, and this is exactly what happened with COVID-19. Many of the technologies implemented during the pandemic such as contactless services and digital platforms outlasted the lockdown period. For example, the pandemic brought a shift to digital payments, with Visa reporting that tap-to-pay transactions increased by 30% in 2021 alone. Peering ahead, it is predicted that contactless payments are here to stay, pandemic or otherwise.
While it is evident that technological advancements have rendered certain jobs obsolete, they have also opened doors to new career paths. Reports by McKinsey Global Institute have detailed that by 2030, AI could contribute to the creation of up to 50 million jobs globally. A rise in new tools and services means a rise in career paths involving the development and usage of these technologies. Jobs in fields such as software, IT, cybersecurity and system maintenance will certainly grow in demand to keep up with AI’s bottomless need for data. What can students and future employees do to navigate an ever-evolving job market as technology continues to advance?
Firstly, even though a robot isn’t susceptible to a widespread virus or doesn’t call in sick to work, it can’t connect on an interpersonal level quite like a human can. Careers dependent on human interaction such as teachers, psychiatrists and business leadership roles are just a few examples of jobs that technology simply cannot replace. Further, the development of interpersonal skills will become increasingly valuable to employers. Leadership, collaboration and communication skills are critical to strengthen as they are irreplaceable by technology.
It is also important for job seekers to consider developing new skill sets to keep up with changing work methods. According to Boston Consulting Group, there is a newfound need to “upskill and re-train the workforce for digital transformation”. There is a current shortage of workers equipped with the skills to properly use and maintain new technological systems. Building an expanded skill set that aligns with industry trends will be a competitive advantage in an expanding workforce.
It can be intimidating to look around the classroom or into the real world and see such swift changes to our technology. Discussions about the advancement of technology are quite black and white, as tech is said to either destroy jobs, or create them – a conflicting and confusing conversation to have. But this discourse disregards the perspective of technology being able to transform jobs. It is far too easy to get wrapped up in the idea that AI will take over the workforce, but through enhancing certain skills and learning new ones, it is entirely possible to stay up to date with new developments. As the workforce continues to evolve, consider how to use technology to your advantage instead of letting it take advantage of you.