Conference Presentation, Panel
Jobs of the Future
Milken InstituteKaren Gilchrist, Kevin Aluwi, Feon Ang, Jeanne Lim, Stephanie Nash, Jon-Paul Pritchard
- The World Economic Forum forecasts the disruption of 75 million jobs within the next few years, creating a pathway for 133 million new roles requiring distinct skills, while a broader consensus predicts 30 to 70 percent of current jobs will be automated over the next 10 to 15 years.
- Specific sectors face significant transformation, with industrial automation expected to reduce production line labor from hundreds to 10 or 15 individuals, particularly impacting low-skilled workers, whereas caregiving and psychiatric training may see robot integration due to advantages in patience, non-judgment, and protocol adherence.
- Hard technical skills are projected to become obsolete by the next technology wave, necessitating a hiring shift toward resilience, learning agility, and adaptability, while demand will increasingly surge for expertise in artificial intelligence, machine learning, cybersecurity, cloud computing, and data science.
- Employers will prioritize behavioral attributes including compassion, critical thinking, creativity, problem-solving, collaboration, and social awareness, alongside the implementation of improved psychological assessments and continuous skill testing to address the obsolescence of traditional education and career models.
- Gojek anticipates a 50% average income increase for its drivers and a 30% increase for its 300,000 to 400,000 merchant partners by leveraging technology to augment productivity and improve market delivery, signaling that technology serves as a tool to enhance rather than solely replace human value.
- Economic and organizational structures will shift as the traditional model of 15 to 16 years of schooling followed by a 35-year career is deemed non-viable, requiring individuals to adopt continuous learning, while companies must evolve to balance employee demands for purpose against consumer demands for speed and convenience.
- Leadership strategies must foster psychological safety, openness to failure, and bottom-up solutions, while organizations risk losing employee trust and innovation if leadership actions do not align with organizational rewards and values.
- Legislative and policy frameworks require adaptation to prevent hindrances in hiring, onboarding, and talent relocation, with governments and businesses potentially collaborating on universal basic income or "tax the robot" measures funded by automation productivity to mitigate societal risks of displacement.
- Education systems face criticism as a primary barrier for displaced workers, prompting calls to integrate software engineering, design, and philosophy at the elementary level, while corporations must invest in upskilling, enrichment, and community reinvestment to prevent large groups from being left behind.
- Future work arrangements may include a rise in independent contractors who receive organizational capability building alongside self-driven skill investment, subject to legislative challenges regarding co-employment, and a recognition of senior individual contributors who deliver outsized impact on a part-time basis.
- Artificial General Intelligence (AGI) is not expected for 10 to 30 years, leaving a prolonged period where narrow AI acts as a human tool, potentially leading to a future where humans engage in leisure and philosophy once AGI assumes undesirable tasks.
- Organizations are advised to update time-bound policies such as long-service awards and annual performance surveys, while ensuring digital transformation budgets support business evolution and that current legislation does not impede the rapid pace of talent mobility.
- The ultimate vision for the future of work emphasizes fulfilling employment that aligns personal passion with professional impact, provides increased leisure time for personal interests, and creates global economic opportunity through collective responsibility.