AI and The Future of Work

alik 11
FACULTY RETREAT 2024

August 20, 2024
Panel Discussion on
AI and The Future of Work*
While technological advancements have always reshaped industries and

societies, the pace at which Artificial Intelligence (AI) is evolving the workforce
and social landscape is unprecedented. Artificial Intelligence (AI) refers to
simulating human intelligence (learning, reasoning, perception, and language) in
machines. It's crucial to not only understand AI but also use it effectively and stay
updated with its advancements. This brief aims to highlight the necessity for
updating human skills alongside AI and technological developments.
Although AI excels at automating tasks and analyzing data, it has its own
challenges. Adept at forecasting, AI often lacks comprehension of social, cultural,
or economic nuances that can significantly impact its predictions. Issues of
quality data, privacy, ethical concerns, and AI’s environmental impact are
pervasive, (see CLT brief on AI Challenges at the Workplace). The world needs
to shift towards better human-machine collaboration, moving from AI-generated
(machines create solutions independently) to AI-assisted (machines provide
support and insights for human decisions) and ultimately to AI-augmented (AI
enhancing human capabilities) model. Ethan Mollick aptly calls for development
of ‘co-intelligence’ as the future skill for humankind
Impact of AI on Evolving Job Horizon
The World Economic Forum's Future of Jobs Report predicts a net increase of 97
million AI-powered jobs in decision-making, product development, and customer
service by 2025. AI presents a double-edged sword, with 75% of companies
planning for AI adoption with 50% expecting AI related job creation but 25%
anticipating job losses, especially for roles like office workers, production
workers, and customer service representatives. McKinsey Global Institute's 2024
Report reports an increasing focus on concurrent AI skills development alongside
existing expertise in areas such as STEM, healthcare, big data analytics, climate-
focused technologies, and cybersecurity which are all anticipated to grow
significantly.
Skills for a Changing Landscape
Digitization has created a major shift but with AI significant disruption (44%) is
anticipated within five years. While demand for physical and higher cognitive
skills will stabilize, technical, social, and emotional skills are expected to surge.
At campuses, QS research shows that as a result of AI, students are showing a
growing interest in computer science programs programmes
The need for AI literacy (understanding AI concepts, applications, implications,

and practical skills for real-world use) will be key for all. This shift in job tasks
necessitates a comprehensive approach to skill development, encompassing
three key domains: knowledge, attributes, and skills (McKinsey & Company,
2024; UNESCO, 2021).
Knowledge
The integration of AI and digital technologies across industries demands a deep
understanding of these systems. Workers must be equipped with:
● AI and Technology literacy: Deep understanding of AI algorithms,
data science, and emerging technologies.
● Business Acumen: Strong grasp of financial models, market
trends, and strategic planning.
Skills
Evidence from online job openings reported in World Economic Forum (2023)
highlights the importance of specific skill sets that give employees a competitive
edge, including the following:
● Analytical Thinking: Ability to process complex data, identify
patterns, and draw insights.
● Creativity: Innovation, problem-solving, and generating new ideas.
● Digital Skills: proficiency in AI tools, software applications, and
digital platforms
● Soft Skills: interpersonal skills, leadership, adaptability
Attributes
The future workforce must cultivate socio-emotional attributes such as:
● Growth Mindset: Curiosity, lifelong learning, and adaptability.
● Emotional Intelligence: Resilience, motivation, self-awareness, and
empathy.
● Collaboration: Teamwork, communication, and interpersonal skills.
AI Transforming The Workplace

Over 75% of companies globally plan to adopt big data, cloud computing, and AI
technologies in the next five years. The industries most affected by AI use are as
follows:
Education and Training:

AI's potential to personalize learning hinges on a human-centered approach that
prioritizes AI literacy. This necessitates a multi-faceted approach encompassing
not only technological applications (learning with AI) but also the methods of
instruction (learning about AI) and the broader societal implications (learning for
human-AI collaboration.) Building on existing frameworks, a needs-based
categorization of potential AI applications in education is needed, including: (i)
education management and delivery, (ii) learning and assessment, (iii)
empowering teachers and enhancing teaching, and (iv) lifelong learning
Healthcare
AI is revolutionizing healthcare workplaces , empowering clinicians with
advanced capabilities. Machine learning algorithms unearth disease patterns and
accelerate drug discovery, while AI-assisted robotics and automation empower
clinicians. To thrive, healthcare professionals must adapt, embracing data
analysis, understanding limitations, and collaborating with AI. There will also be a
need for new roles, such as data scientists and medical leaders who can shape
clinically meaningful AI.
Business and Manufacturing

AI-driven business transformation redefines how companies operate, interact
with customers, and make decisions. This extends beyond automation, fostering
entirely new models and functionalities. While classical AI excels at data
analysis, generative AI disrupts the game by mimicking human creative abilities.
Mastery of AI technologies, data strategy, and fostering an AI-embracing culture
are crucial, alongside process re-engineering. The future promises deeper AI
integration, with trends like autonomous operations, AI-IoT convergence, and a
focus on ethical development.
Insurance and Finance

AI is revolutionizing insurance, using machine learning to analyze data, assess
risks in real-time, personalize products, and streamline processes. This not only
cuts costs and boosts efficiency, but also enhances customer experience. The
market value of AI in finance, $9.45 billion in 2021, is projected to grow 16.5% by
2030. However, this sector needs to prioritize data privacy and fairness to ensure
AI benefits both companies and customers.
Cybersecurity and Surveillance

AI is rapidly transforming cybersecurity by enhancing detection, response, and
proactive defenses. It streamlines operations through automation, empowering
security teams to focus on complex investigations and strategic threat mitigation.
However, to leverage this power, a "skills renaissance" is needed. Cybersecurity
professionals will require data analysis expertise to harness AI's potential, while
retaining critical thinking, problem-solving, and communication skills to translate
AI insights into action.
Energy
The energy industry faces a complex challenge: balancing efficiency and
production with environmental responsibility. AI offers promising solutions like
predictive maintenance, optimizing energy use, and developing sustainable
materials. Additionally, AI-powered building management systems analyze
sensor data to intelligently adjust HVAC, lighting, and other energy-intensive
components to minimize energy wastage, aligning with sustainability goals.
However, the energy used to train and run AI models, as well as potential biases
in algorithms, could worsen climate change.
Media and Communication

AI is revolutionizing how we consume, produce, and distribute information. AI-
powered tools personalize content delivery, suggesting news articles, social
media posts, and advertisements tailored to our interests. A blend of creativity,
storytelling, media literacy, and AI literacy is crucial for success. While AI offers
significant benefits, it's important to address ethical concerns like bias in
algorithms and the potential misuse of deep fakes.
Legal Industry
The legal industry is on the verge of an AI revolution which can streamline legal
practices through document automation, improved client management, better
research, and optimized workflows, leading to increased efficiency for law firms.
However, ethical and legal challenges, such as digital rights and jurisdiction over
AI components, need addressing. To ensure sustainability and protect human
rights, the UN General Assembly adopted its first resolution in 2023 on
harnessing safe, secure, and trustworthy AI systems for sustainable
development. Responsible implementation still requires a long way to go as
policymakers continue to develop clear legal frameworks for all sectors.
While the global landscape of AI integration offers a wealth of insights, a lot of

clarity is still required for Pakistan's specific context. Developing countries face
unique challenges in AI adoption, including limited infrastructure, a shortage of
skilled professionals, and potential social unrest due to job displacement. In
Pakistan, where over 60 million people are illiterate, the conversation around AI
needs to address the digital divide and ensure inclusive growth.
AI*Please
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draft developed around the Ifrah
Education Developer-CLT
future of work shouldn't solely focus
Nadeem, supervised by Dr Zia, July 2024.on the most talked-about technologies. As
Andrew Maynard observes regarding the World Economic Forum's list, "Rather
than being digital tech-or consumer tech-heavy, the WEF list casts a broader net
to include technologies that are not necessarily trending on social media or
making headlines but that nevertheless have the potential to be transformative".
This broader perspective reminds us to consider the full spectrum of innovations
that can reshape workplaces, not just the ones currently capturing the spotlight.
References
McKinsey & Company. (2024, July 18). The race to deploy generative AI
and raise skills. https://www.mckinsey.com/mgi/our-research/a-new-future-
of-work-the-race-to-deploy-ai-and-raise-skills-in-europe-and-beyond
World Economic Forum, (2023). Future of Jobs Report 2023. Insight

Report.https://www.weforum.org/publications/the-future-of-jobs-report-2023
UNESCO. (2021). Understanding the impact of artificial intelligence on

skills development. UNESCO-UNEVOC.
https://unevoc.unesco.org/pub/understanding_the_impact_of_ai_on_skills_
development.pdf

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alik 11

FACULTY RETREAT 2024

While technological advancements have always reshaped industries and

Impact of AI on Evolving Job Horizon

The need for AI literacy (understanding AI concepts, applications, implications,

AI Transforming The Workplace

Education and Training:

Business and Manufacturing

Insurance and Finance

Cybersecurity and Surveillance

Media and Communication

While the global landscape of AI integration offers a wealth of insights, a lot of

World Economic Forum, (2023). Future of Jobs Report 2023. Insight

UNESCO. (2021). Understanding the impact of artificial intelligence on

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