Non-IT jobs such as manufacturing are expected to undergo a massive transformation because business processes would rapidly change with AI at the core. Bloomberg
Non-IT jobs such as manufacturing are expected to undergo a massive transformation because business processes would rapidly change with AI at the core. Bloomberg
Non-IT jobs such as manufacturing are expected to undergo a massive transformation because business processes would rapidly change with AI at the core. Bloomberg
Non-IT jobs such as manufacturing are expected to undergo a massive transformation because business processes would rapidly change with AI at the core. Bloomberg

How AI threat is putting workers in a quandary about their jobs


Alvin R Cabral
  • English
  • Arabic

Artificial intelligence is increasingly being integrated into various job functions, raising questions about which roles might be eliminated and what workers need to do to safeguard their careers, analysts say.

Companies are doubling down on harnessing the power of AI by creating top-level roles, such as that of a chief AI officer and chief data and analytics officer, sharpening their focus on the technology to reap its benefits, Arun Chandrasekaran, vice president at research firm Gartner, told The National.

"AI has been a domain with a continued increase in new role creation ... and can benefit a broad suite of roles within the enterprise. Almost all functions within the enterprise will be impacted by AI, although the degree of impact would vary," he said.

"As many of the routine and low-level tasks get automated, it frees up time for tech workers to focus on more value-added tasks that have a direct impact on business value."

Roles such as AI engineers, data scientists and data engineers are becoming sought after. And titles such AI ethicists and AI architects are expected to become more common, Mr Chandrasekaran said.

Those who embrace AI are expected to benefit, and those who behind the curve need to upskill or their services "might get compared with AI-enabled intelligent machines", said Harish Dunakhe, senior research director at the International Data Corporation, said.

"Most jobs that perform repetitive and mundane tasks are getting automated by robotic process automation. However, the intelligent automation is fundamentally questioning the ‘need’ for many tasks and hence many jobs and roles are getting eliminated," he told The National.

A recent report by Goldman Sachs said AI could cost the world the equivalent of 300 million full-time jobs across major economies.

The growing adoption of AI technology can help boost global economic growth — annual global gross domestic product could grow 7 per cent in the 10 years after at least half of companies worldwide use AI — and raise labour productivity, the US investment bank's report found.

AI in the workplace is not new — bots being used in customer service roles and self-driving cars are among good examples — but it has significantly gained momentum with the advent of generative AI, which is seen to potentially replace human roles.

The technology — made popular by the OpenAI's ChatGPT — can produce various kinds of data, including audio, code, images, text, simulations, 3D objects and videos. While it takes cues from existing data, it is also capable of generating new and unexpected outputs, according to GenerativeAI.net.

Investors poured in more than $4.2 billion through 215 deals into generative AI start-ups in 2021 and 2022 after interest surged in 2019, data from CB Insights showed.

About $586 million in 20 deals during the same period has gone to generative interfaces, it said.

It has also caught the attention of Twitter chief executive Elon Musk, who this week said he plans to develop a new "truth-seeking" generative AI platform to challenge Microsoft-backed ChatGPT and Google’s Bard.

Indeed, AI has already disrupted the workforce, particularly in lower-level roles, but it is still uncertain how it would affect jobs at higher levels, especially in tasks that still require human intervention for operations to function properly and safely.

"AI has taken away the need for many less advanced, [mid-level] roles that can now be automated which has had a big impact on these types of roles, but we are yet to see AI significantly impact more advanced roles," John Armstrong, founder and managing director of Dubai-based recruitment firm JCA Associates, told The National.

"A jumbo jet can fly itself, but still requires a pilot and support crew."

Non-IT jobs across industries such as retail, manufacturing, transportation, oil and gas, finance, logistics and shipping are expected to undergo a massive transformation since business processes would rapidly change with AI being at the core, IDC's Mr Dunakhe said.

We are yet to see AI significantly impact more advanced roles ... a jumbo jet can fly itself, but still requires a pilot and support crew
John Armstrong,
founder and managing director of JCA Associates

"Jobs that deal with organisational data to analyse and present relevant information, or identify meaningful insights and patterns from the data might get impacted," he said.

Meanwhile, AI can also prove to be beneficial for a broad range of roles, from customer service, sales, marketing, communications, IT, research and development, finance and human resources, Mr Chandrasekaran said.

This highlights the need for workers to upskill or reskill themselves with AI, or they will face steep competition from the younger AI-equipped workers who do not have the baggage of older skills, he said.

"The skills needed for the future will be radically different than they are today," Mr Dunakhe added.

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE currency: the story behind the money in your pockets
LA LIGA FIXTURES

Friday (UAE kick-off times)

Levante v Real Mallorca (12am)

Leganes v Barcelona (4pm)

Real Betis v Valencia (7pm)

Granada v Atletico Madrid (9.30pm)

Sunday

Real Madrid v Real Sociedad (12am)

Espanyol v Getafe (3pm)

Osasuna v Athletic Bilbao (5pm)

Eibar v Alaves (7pm)

Villarreal v Celta Vigo (9.30pm)

Monday

Real Valladolid v Sevilla (12am)

 

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

A Prayer Before Dawn

Director: Jean-Stephane Sauvaire

Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai

Three stars

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

The specs: 2018 Maserati Levante S

Price, base / as tested: Dh409,000 / Dh467,000

Engine: 3.0-litre V6

Transmission: Eight-speed automatic

Power: 430hp @ 5,750rpm

Torque: 580Nm @ 4,500rpm

Fuel economy, combined: 10.9L / 100km

How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

South and West: From a Notebook
Joan Didion
Fourth Estate 

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

The%20specs%3A%202024%20Mercedes%20E200
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%20four-cyl%20turbo%20%2B%20mild%20hybrid%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E204hp%20at%205%2C800rpm%20%2B23hp%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E320Nm%20at%201%2C800rpm%20%2B205Nm%20hybrid%20boost%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E9-speed%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E7.3L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENovember%2FDecember%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh205%2C000%20(estimate)%3C%2Fp%3E%0A
Updated: April 22, 2023, 3:00 AM