Yesterday we went to a Vietnamese restaurant in Plaza Singapura, called Paper Rice. Interestingly, instead of the waiters delivering our food, it was actually delivered by a robot. Technology is rapidly changing the way we live and work, and its impact on employment is significant. According to the World Economic Forum, technology will displace 85 million jobs globally but create 97 million new roles by 2025.
One of the key ways in which technology is changing employment is through the use of artificial intelligence, which is makin
g many low-skilled jobs redundant. For example, jobs like waiters, taxi drivers, and cashiers that involve manual labor are increasingly being replaced by machines or automated systems. Other jobs that have become redundant in recent years include travel agents, bank tellers, and factory workers.
However, not all jobs are at risk of being made redundant by technology. Entrepreneurial roles, such as senior executives and directors, are likely to remain in demand, as are medical practitioner roles like dentists, surgeons, and nurses. Jobs with a natural human element such as Teachers and coaches, will continue to be essential and largely irreplaceable.
In addition to traditional employment, the gig economy – characterized by short-term contracts or freelance work – is also on the rise. In the US, for example, 16% of Americans have earned money from an online gig platform. However, gig jobs are not a significant contributor to a nation's economy, as wages are often minimal and these jobs only make up around 9% of the labor force. Gig jobs are more commonly taken on as a side job, particularly by students or those aged 18 to 29.
To ensure that workers are able to adapt to the changing employment landscape, skills training programs are becoming increasingly important. In Singapore, SkillsFuture is a learning, training, and career guidance platform that helps Singaporeans upgrade their skills to acquire better jobs and contribute to the country's advanced economy and inclusive society.
Research by the McKinsey Global Institute published in 2021 suggests that the workforce will benefit from acquiring new skills that essentially meet three key criteria:
Be able to add value beyond what can be done by machines,
Be able to operate in a digitally driven environment,
High
level of adaptability to new ways of working and new occupations .
Per their reseach, these foundational skills can be divided into four categories: cognitive skills like critical thinking, planning, and communication; interpersonal skills like mobilizing systems, developing relationships, and teamwork; self-leadership skills like self-awareness, entrepreneurship, and goal achievement; and digital skills like digital fluency, software use, and understanding digital systems.
In conclusion, technology is disrupting employment and the gig economy is on the rise. To stay competitive in the job market, it is crucial that the workforce continually upgrade their skills and adapt to new ways of working. Programs like SkillsFuture are helping people to do just that and prepare for the jobs of the future. For the younger generation that is preparing to enter the job market, an essential skill to imbibe will be the ability to unlearn and relearn in order to adapt to the fast changing work environment.
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