Technological disruptions are seen as a threat to existing jobs and even businesses whether it is AI (Artificial Intelligence), IoT (Internet of Things) or Automation. Artificial intelligence has sparked a row about its impact on jobs and society. When we discuss about a phenomenon like this, we must understand the fact that change is the law of nature and that is how humans have evolved.
When robotics was introduced in automobile sector it was hugely debated and was seen as threat to assembly line jobs but what we see today is increase in car sales, manufacturing of affordable cars and overall growth of industry ultimately resulting in job creations. Same was the case when computerization of banks started in India it was hugely debated but if we look at it now, we can see drastic changes in terms of quality and speed of transactions as well as more job creations. ATM's are another example. The point is that in all the above scenarios strong technical as well as human skills are required, and continuous learning becomes need of the hour.
In a recent report PwC states that while AI could displace 7million jobs in UK, it could also create 7.2 million jobs. It will require strong technical capabilities as well as skills like creativity, problem solving attitude and teamwork which are unique qualities of humans and can't be replicated. Therefore, learning will be the most important aspect of employability and only technical skills will not be enough for future jobs, strong management skills will become quintessential which can be acquired by quality management education. Thus, in order to thrive one must abreast with the skills required through education and continuous learning.
#Dr. Akshat Aditya Rao, School of Management, The NorthCap University Gurugram
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