Sachin Dev Duggal - The role of artificial intelligence in shaping future employment: Beyond technological displacement

AI has transformed how we work, leading to a complete overhaul of the employment landscape. Besides AI displacing some jobs, it also creates new ones and enhances current ones. As AI evolves, we must understand its implications for tomorrow's workforce and how to transition from technological replacement to a more teaming workplace environment.

Augmentation and Collaboration 

Rather than replacing humans entirely, AI is often used to augment human abilities and promote collaboration through machines. AI systems can process and interpret massive volumes of data, providing practical knowledge that people can use to make better decisions. Various fields, such as healthcare finance or marketing, are being transformed using AI-enhanced human intelligence. The globally acclaimed entrepreneur Sachin Dev Duggal, believes AI has the potential to revolutionize industries by improving procedures and streamlining undertakings, and optimizing operations. For example, in the finance landscape, financial decision-making can get support from machines in finance; and strategies can be optimized using this technology like ML coupled with AI. The automation and optimization brought by AI allows employees to manage complex activities involving emotional intelligence, critical thinking, and creativity, thereby leading to greater efficiency and productivity within the evolving workforce.   

Reskilling and Upskilling 

AI's impact on the job market shows that continuous learning and adaptability are necessary. People must evolve their skills as roles change and new skills are demanded to remain competitive. This necessitates improving current know-how in line with technology (upskilling) and acquiring new ones for different positions (reskilling). Organizations, educational institutions, and governments have developed programs, workshops, and online platforms to assist employees with AI, data analysis, programming, and digital literacy training.

Automation and Job Displacement 

The significant impact of AI on employment is automation. The fear of losing jobs has emerged with artificial intelligence (AI) systems that have become more capable of "thinking," like humans, being able to perform tasks previously performed by human beings. In manufacturing, the customer service industry, data entry, and other routine automated tasks are changing the available job types. Nevertheless, it must be borne in mind that while AI may replace some jobs, there will also be new career opportunities demanding skills in AI development, data analysis, and machine learning. Sachin Dev Duggal the co-founder of Builder.ai, artificial intelligence (AI) will augment human potential while also leading to a change in employment positions that are more focused on creativity and innovation. Rather than being afraid that AI would cause job displacement, he advises embracing it as a tool for empowerment and teamwork.