BSI’s Charlene Loo said people can avoid getting wiped out by AI if they choose smaller businesses that might be hesitant at adopting the technology. (Source: Supplied\/Getty) <\/p>\n
There are warnings coming from seemingly everywhere that artificial intelligence<\/a> (AI) is going to wipe out a huge number of administrative jobs<\/a>. Gen Z are set to be particularly affected by this foretold “jobpocalypse”<\/a>, as the new technology is predicted to make scores of entry-level and graduate roles redundant.<\/p>\n Some workplaces and industries have already started to reduce their headcount<\/a> as they adopt AI and navigate difficult economic conditions. But BSI Group Australia’s managing director Charlene Loo told Yahoo Finance the country’s youngest workers can reduce the risk of being on the wrong side of this trend by doing one thing.<\/p>\n “I strongly encourage the younger generation to look at small-and-medium-enterprises (SMEs) as a skills incubator,” she said.<\/p>\n “They’re likely to learn more of those backbone skills. There’s critical real world experience, mentorship and training as well.<\/p>\n “[Bigger] organisations are prioritising AI investment at the expense of talent development.”<\/p>\n Some workers are attracted to larger firms because they can boost your CV, can provide more opportunities, and can come with bigger salaries.<\/p>\n But Loo explained that these bigger firms are far more likely to invest in the AI revolution and, as a result, could be far more likely to prefer the technology over hiring or keeping the youngest people in the workforce.<\/p>\n Telstra<\/a> and Amazon<\/a> are two massive companies who have already admitted they will reduce their workforce due to AI. Commonwealth Bank has also cut job in pursuit of AI replacements<\/a>.<\/p>\n Do you have a story? Email stew.perrie@yahooinc.com<\/p>\n BSI data found 49 per cent of larger firms in Australia have cut roles thanks to AI, compared to only 37 per cent of SMEs.<\/p>\n A further 15 per cent of Aussie organisations are now exploring AI solutions before considering hiring a human, which is less than half (31 per cent) of the global average.<\/p>\n Forty-two per cent also admitted entry level roles have already been cut due to efficiencies created by AI, and 47 per cent of leaders felt their first professional role wouldn’t exist today because of the technology.<\/p>\n “You really need to have governance and transparency in how a company is using AI and a set of good policies,” Loo said.<\/p>\n “It’s not just for your customers, but for employees as well, and larger entities tend to have the infrastructure to put those governance structures in place.<\/p>\n Story Continues <\/p>\n “Although there’s a high AI adoption, there’s a need to think about the long-term needs of an organisation.”<\/p>\n Some market prognosticators believe AI will just become an essential tool for workers, who will be able to boost their productivity and find time to do more meaningful tasks.<\/p>\n Google’s senior vice president of Research, Labs, Technology and Society, James Manyika<\/a>, believes that while jobs will be lost, they will also be “gained, and changed”, and argues these new roles will be “a much larger number” than the ones that will be made redundant.<\/p>\n RBA governor Michele Bullock agrees that it will morph the workforce like never before.<\/p>\n \u201cWhile many experts anticipate a net increase in jobs, it is likely to be more nuanced: some roles will be redefined, others might be displaced, and entirely new ones will be created,\u201d she said<\/a>.<\/p>\n However, others feel it could remove a sizeable chunk of the workforce because AI platforms can get tasks done faster and never take a sick day.<\/p>\n Dario Amodei<\/a>, CEO of AI company Anthropic, fears the technology “could wipe out half of all entry-level white-collar jobs” and see unemployment in the US jump as high as 20 per cent in the next one to five years.<\/p>\n Ford CEO Jim Farley<\/a> went one step further, by saying AI is going to replace “literally half of all white-collar workers in the US”.<\/p>\n Andy Jassy, the head honcho of Amazon, predicted it will “reduce our total corporate workforce as we get efficiency gains from using AI extensively across the company”.<\/p>\n Amazon recently announced it was laying off 14,000 people to become leaner and less bureaucratic.<\/p>\n Loo said young workers who are worried about getting the shaft due to AI needed to start brushing up on their skills.<\/p>\n It doesn’t matter if that’s on company time through internal professional development, or in their own time, as long as it’s added to their CV.<\/p>\n “It is here to stay,” she said. “It’s about adopting the tools, but more importantly, knowing how to use them ethically.”<\/p>\n A Microsoft study<\/a> that spoke to 575 early-career professionals across Australia found eight in 10 people said their recently-acquired AI skills have boosted their visibility with leaders and influence in shaping strategy at work.<\/p>\n Microsoft ANZ’s national technology officer Sarah Carney said business leaders need to create a culture that encourages learning across all their teams to “accelerate AI adoption and fuel innovation”.<\/p>\n \u201cAI should be a launchpad for every worker, not a privilege for a few. Especially for young professionals whose entire careers will be shaped by how they harness AI,\u201d she said.<\/p>\n \u201cEven in heavily regulated sectors, the answer isn\u2019t to stand still; it\u2019s to adopt AI safely and responsibly, because there is also the risk of doing nothing.\u201d<\/p>\n Get the latest Yahoo Finance news – follow us on Facebook<\/a>, LinkedIn<\/a> and Instagram<\/a>.<\/p>\n Thousands of Amazon workers are set to be culled and it’s unclear whether Aussie staff will be affected. (Source: Getty) <\/p>\n