Artificial intelligence will force governments to develop national employment strategies Economics and business
The job market will enter uncharted territory in the coming years. Although technological progress has traditionally been a double-edged sword for employment – while it improves production, it forces shifts in the workforce – AI and its direct impact on all sectors of the economy will move things forward rapidly, prompting a rapid rethinking of the paradigm. . A transformation that threatens to leave anyone unable to adapt in time. The responsibility for ensuring that this does not happen lies with governments, which have several tasks to do: properly analyze the current situation; Review, if necessary, the statistical sources from which they derive the reports they use to make projections; And demonstrate a desire to cooperate with the private sector in pursuit of the public good. These are the main conclusions of a study by consulting firm Oliver Wyman that seeks to address these future challenges.
“In this technological revolution, workers will have less time to adapt than in previous revolutions. It will take hold more quickly and, consequently, the workforce will have less room to maneuver and adapt,” says the report written by Pablo Campos, Gonzalo Arana, Tomás Sánchez, and Jaime Gervase.
Alongside this imminent transformation in the labor market, there will be another transformation in the social sphere, which will go hand in hand with the gradual aging of the labor force. This will lead, on the one hand, to an increase in total salaries – workers with longer careers have better conditions and more experience – and, on the other hand, to an increase in the age of the companies’ customer base. “This will have an impact on the size of the sectors, as there will be less demand for products and services targeted at young people (gaming and nightlife) and more demand for products and services aimed at older people (aged care and insurance).” The study claims.
The association of demographics with work is nothing new, but the gradual increase in retirement ages and the increasing delay in entering the labor market for younger workers will increase tensions between generations. “Unemployment and wage gaps between sectors are unambiguous indicators of the labor market’s difficulties in adjusting. It is therefore necessary to implement mechanisms that reduce friction within the local labor market.
All of these currents of change are symptoms of a general transformation yet to come, the ultimate horizon of which will depend on the answer to the following question: What will the jobs of the future be? According to various study forecasts, “Work in the future will be more flexible, with more roles in human and care services… As a result of the development of new technologies, the demand for skills related to revolutionary technologies will increase, and the role of the employee will be replaced as a ‘computer substitute’” (Jami Data and Analyst) The employee plays the role of a “complement to the computer” (managing the team, conveying messages, managing emotions), and will evolve toward a more human and helpful role.”
At the same time, the report makes clear that some of the remote work formats implemented in recent years – mostly as a result of the pandemic – will become an essential basic requirement for workers. “Society has become accustomed to more flexible ways of working, which has led to remote working, increased adaptability to working hours and digital communication. These trends will take hold in the coming years, and support for shortening the week to four days in the interests of work harmony is even expected to increase, “The text confirms.
Governments will play the dominant role in managing this transformation. This management must be carried out at different time intervals. To this end, the Oliver Wyman report suggests taking different actions at different times. In the short term, the study authors suggest “simplifying and promoting the employment of foreigners in sectors with low employment and talent shortages, and removing hurdles in processing visas and residence permits”; In the short to medium term, “establish a coordination body between the private sector, educational institutions and the government in promoting and identifying talent”; In the medium term, “support the training or reskilling of employees in the skills required by companies”; In the long term, “review current educational opportunities (university and vocational training) in line with local private sector requirements to avoid brain drain.”
The economic umbrella is necessary to implement all of these measures, especially those that focus on the long term. For this reason, the report emphasizes the importance of “financial stability” and the cooperation between political parties needed to promote it. The study concluded that “one possible solution to the requirements of ideological and financial stability is to strengthen independent institutions similar to the Future of Work Institute, run by independent administrators and relying on public-private partnerships.”
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