The Impact of Artificial Intelligence on the Labour Market
20 March 2024
by Jessica Simoes
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The Impact of Artificial Intelligence on the Labour Market
The rapid evolution of Artificial Intelligence (AI) is redefining the labour market landscape, bringing with it challenges and opportunities. The automation of tasks, the necessary retraining of workers and changes in the nature of the tasks to be carried out are among the most significant aspects of this transformation.
As advanced algorithms and automated systems gain ground, it is certain that repetitive and routine tasks will increasingly be delegated to artificial intelligence. Catarina Lino
On the other hand, the growing use of GenAI in functions such as marketing, customer service or even product/service development leads to debate about the role of AI in more qualified functions. Regardless of the level of qualification of the function, the opportunity for this use is one of efficiency. If it is based on skills and abilities that maximise the regular use of AI, we will have professionals and companies able to navigate the technological and ethical constraints of this powerful tool.
So it's clear that we can only tackle automation through the continuous retraining of workers. Training and skills development programmes are vital to equip professionals with the technical knowledge and skills they need to adapt to the new demands of the market. Companies have a crucial role to play in supporting and investing in the development of their teams, alongside investment in technology, as this is the only way to achieve a smoother transition to new roles and responsibilities without losing productivity/efficiency in day-to-day deliveries.
The use of GenAI to optimise recruitment and selection processes, career management and talent retention is done by both sides of the equation: it's not just companies that rely on these tools, but also professionals who appreciate the added value in their daily lives.
This "democratic" use of the power to analyse data, generate text, images and even create business plans or even new development strategies has an inherent sense of opportunity as impactful as that which came with the widespread use of electricity or the World Wide Web.
The chance to access a potential waiting to be fulfilled is at our fingertips - I can include a professional-quality photograph on my CV without the cost of a photo shoot, I can improve my LinkedIN synopsis with a robust version of a copy that values me, I can revise my CV so that it is better rated by the screening software used by recruiters and I can even create a networking strategy that positions me for "that" promotion. Comments on the quality of these results compared to those from professional services will be confirmed or vetoed with the passage of time and their use, but immediate access to solutions that allow you to start better positioned are already here, in use and impacting careers.
Reflecting on AI in the labour market therefore leads us to a conclusion of a "lapalysed" nature: this is a decisive moment in which the decisions of all users (existing and potential) will be the factor that allows them not only to survive, but to thrive in a work environment driven by artificial intelligence.
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