AI’s impact on jobs raises concerns, experts urge preparedness

Concerns are rising across various sectors about the potential displacement of jobs due to the increasing adoption of artificial intelligence (AI), with experts advising organisations and individuals to prepare for the inevitable impact. A recent blog post by Kristalina Georgieva, chief of the International Monetary Fund (IMF), suggested that AI would affect nearly 40% of global jobs, replacing some and complementing others.

The IMF’s analysis reveals that unlike automation and information technology, which have historically impacted routine tasks, AI holds the potential to affect high-skilled jobs. This implies that advanced economies are at a greater risk, but also have more opportunities to leverage the benefits of AI compared to developing economies. However, the technology is expected to exacerbate inequality, necessitating the establishment of comprehensive social safety nets and retraining programmes to make the transition more inclusive.

Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), noted that while AI would most likely impact unskilled labour, its broader disruption across industries remains uncertain. He asserted that human labour continues to hold importance, as AI cannot be applied to every job.

For instance, roles such as customer service at call centres, research and administrative work will be affected by AI. However, he suggested that highly skilled workers would likely remain unaffected.

Pirata Phakdeesattayaphong, consulting partner for PwC Thailand, highlighted that AI will augment or enhance human capabilities by providing deeper analysis and insights. While it is expected that AI will replace 85 million jobs by 2025, it will also create 97 million new jobs. She further stated that jobs handling repetitive tasks and logical thinking tasks will be most prone to AI replacement, reported Bangkok Post.

Anothai Wettayakorn, the new managing director and technology leader of IBM Thailand, emphasised that AI will not replace people, but rather people who use AI will replace those who do not. He suggested that companies should prepare their workforce for new AI applications to accomplish goals faster, which involves providing people with the relevant skills to work creatively and responsibly with AI.

Human capital

Sangduan Tangthamsatid, co-founder of online job recruitment firm JobThai, maintained that AI is likely to complement the Thai workforce rather than replace it. She cited examples of JPMorgan Chase and BMW, where AI is used to improve efficiency and effectiveness, but human capital still holds a significant role in decision-making processes.

The experts agreed that policymakers, in collaboration with businesses and private organisations, should offer courseware and programmes to retrain people with new skills. They also highlighted the need for governments to encourage employers to invest in upskilling and reskilling initiatives, possibly by offering subsidies or tax incentives.