#77: What you should learn from Horses🐎that lost their Jobs to Cars🚗?
Hello,
This newsletter will take you about 4 minutes to read.
I. Spotlight: What you should learn from Horses🐎that lost their Jobs to Cars🚗?
Let’s say you want to sell your own designer crockery. You’re interested in making teapots shaped like peaches. Should you hire a designer to try out this concept?
Actually, you might be better off hiring AI to do this job. Here’s what AI can create today (see picture):
(Photo source: OpenAI’s ChatGPT 4.0)
Not bad, huh?
Notice how the algorithm combines the shape, color, and texture of a peach into a functional teapot.
AI will replace jobs across the spectrum
We’ve long heard the argument that AI will automate away the low-level, mundane tasks first. This example makes it clear that the jobs at risk are not just those that we humans might find repetitive or boring.
AI’s capabilities are bleeding into those high-end tasks that require creativity and imagination. Yes, these algorithms work in carefully controlled conditions today.
However, AI learns fast. Scarily fast.
In his book, Future Proof, NYT columnist Kevin Roose says that there is no such thing as “robot-proof jobs.” He warns that “elite college degrees, impressive LinkedIn profiles, or six-figure salaries are no longer shields against obsolescence.”
Technology creates new jobs, but this is often asymmetric
Despite all the apparent gloom, our future doesn’t look that bad. Technology and automation will indeed create new jobs.
However, the challenge is that these new jobs won’t be created in the same space as the jobs that were automated away. Often, it might take a while for the new roles to appear.
When cars replaced horses in the 1900s, many jobs were lost. But, the automobile industry more than made up for them. In this case, it was easy to trace the jobs lost to those created afresh within the transportation industry.
(Photo source: Stadafa)
Unfortunately, things aren’t always that simple.
With the advent of the internet, jobs across industries vanished. Take the case of travel agencies that saw an air-ticketing boom in the run-up to the 1990s. The arrival of websites such as Expedia made travel agents redundant.
Today, these travel portals employ just a fraction of the people who lost their jobs.
However, the internet has created a demand for entirely new disciplines. For example, consider the jobs of Web developers, Search Engine Optimization (SEO) Experts, or Social media managers.
All of these are net new jobs we couldn’t have imagined earlier. They were created in a different sector and often after considerable time lags.
With a technology like AI, I think this asymmetry will be far more pronounced. Jobs will be created in unrelated industries. These roles will need skills that could be very hard to acquire for the people displaced. This can lead to a lot of heartburn and unrest in the short term.
That’s the challenge we must focus on rather than be worried about automation.
How do we keep people and their skills relevant for the jobs of the future? As a leader, how will you invest and help your teams make this transition - either onto new roles in your organization or in an entirely new, sunrise industry?
II. Industry Roundup:
1. Article: 5 AI Predictions For The Year 2030
15 minutes | Forbes | Rob Toews
By 2030, AI's impact will be profound: Nvidia's market cap may decline with rising competition, while Intel's could grow due to its unique manufacturing capabilities. Daily interactions with AI will become commonplace, making humanoid robots a familiar presence. The terms "agents" and "AGI" might fade as AI capabilities evolve. Job displacement by AI could ignite significant social and political debates, potentially leading to transformative policies like universal basic income.
2. Article: Spotting AI Washing - How Companies Overhype Artificial Intelligence
05 minutes | Forbes | Bernard Marr
"AI washing" mirrors "greenwashing," where companies overstate their products' AI capabilities to seem cutting-edge, diluting true innovation and eroding trust. To identify genuine AI, look for specific technologies used, like neural networks, and demand transparency in their applications. Skepticism is crucial; firms vague about their AI's functionality or unable to address issues like bias may not be using real AI at all.
III. From my Desk:
1. Article: How AI is transforming Agriculture (In Portuguese)
I published a Forbes article on how AI is revolutionizing Agriculture. It seemed to resonate with readers & generated conversations with 4K views in 4 days. Looks like Forbes decided to publish this in their Brazil domain with a Portuguese translation. While some of my articles have been translated into Japanese and Ukrainian by other publications, this was a first in this language & region. If you can read Portuguese, let me know what you think.
-> Read the Article in Portuguese
2. Podcast: Make Better Content With the "Bricks & Mortar" Method
How do you *really* connect with your audience? This is key whether you're storytelling with data, sending an email, or crafting a LinkedIn post. I asked Jason Feifer, the Chief Editor of Entrepreneur magazine this question & landed in his Podcast! He answered this in a podcast episode where he revealed his Brick-and-Mortar method, with some examples.
Thank you for subscribing and reading the newsletter. I appreciate your attention,
Ganes.
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I’m Ganes Kesari. I publish ‘Data-Driven Future’ to help understand how data shapes our world, explore key trends, and explain what they mean for you today. I speak and write to demystify data science for decision-makers and organizations.
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