Will Companies using AI add more jobs than they cut? Read more at Recode

A few weeks ago the new U.S. Treasury Secretary Steven Mnuchin took some public flak for suggesting, in response to an interviewer’s question, that he was “not worried at all” that artificial intelligence would threaten the jobs of human workers, because in his view it is “50 or 100 years away.”

It’s not clear why Mnuchin would say that, but with respect, I have to correct him. Here’s a more accurate timetable for the likely economic impact by AI: Two years at most.

There’s growing evidence that as companies embrace AI to stay competitive, which they will, in the end these changes will create more jobs than they destroy.

The original question to Mnuchin was rooted in popular worries that AI will eliminate jobs in the near future. However there’s growing evidence that as companies embrace AI to stay competitive, which they will, in the end these changes will create more jobs than they destroy.

Earlier this year, ServiceNow commissioned a survey of senior executives at 1,874 companies of varying sizes across numerous industries in seven global markets. We asked their views on what automation might mean for their business in the next few years.

Read all: Companies using AI will add more jobs than they cut – Recode

My point of view: on a micro basis the assumption is that the deprecation of the investment and the additional staff costs (and all related expenditures) will be surpassed by additional revenue from the existing customers or new customers using current services or new services. How often will that be the case?

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The Guardian: The meaning of life in a world without work #futureofwork

Most jobs that exist today might disappear within decades.

As artificial intelligence outperforms humans in more and more tasks, it will replace humans in more and more jobs. Many new professions are likely to appear: virtual-world designers, for example. But such professions will probably require more creativity and flexibility, and it is unclear whether 40-year-old unemployed taxi drivers or insurance agents will be able to reinvent themselves as virtual-world designers (try to imagine a virtual world created by an insurance agent!). And even if the ex-insurance agent somehow makes the transition into a virtual-world designer, the pace of progress is such that within another decade he might have to reinvent himself yet again.

The crucial problem isn’t creating new jobs. The crucial problem is creating new jobs that humans perform better than algorithms.

Consequently, by 2050 a new class of people might emerge – the useless class. People who are not just unemployed, but unemployable.

Read all: The meaning of life in a world without work | Technology | The Guardian

My point: the rise and fall of job classes is not that new. Consider how we went from agriculture to industrial and now service. New is probably that there will be too less jobs for too many people, who have the mind set of a job-obsessed society.

Is the Gig Economy Working? – The New Yorker

Not long ago, I moved apartments, and beneath the weight of work and lethargy a number of small, nagging tasks remained undone.

Some art work had to be hung from wall moldings, using wire.

In the bedroom, a round mirror needed mounting beside the door. Just about anything that called for careful measuring or stud-hammering I had failed to get around to—which was why my office walls were bare, no pots yet dangled from the dangly-pot thing in the kitchen, and my bedside shelf was still a doorstop.

There are surely reasons that some of us resist being wholly settled, but when the ballast of incompletion grew too much for me I logged on to TaskRabbit to finish what I had failed to start.On its W

Read all: Is the Gig Economy Working? – The New Yorker

 

Five Pillars Of Digital Transformation: The Digital Mindset

 

As mentioned in the first post in this blog series, one of the five pillars for a successful digital transformation is to focus on the digital mindset.

Digital transformation is much more than a fad or the latest management buzzword; it will affect everyone and every business at speeds never before seen. Industry players are excited, even if somewhat scared, about the prospects of what technology can bring and how it can change the boundaries they operate in. From automated self-driving cars to personalized medicine to therapy chatbots, the opportunities are immense. Things that were only possible in science fiction are now a reality.

Let’s look at the digital mindset from the perspective of a well-known aphorism: “To change the world, one needs to change oneself.”

What does this mean? How can someone knowingly change their mindset? How can an organization change its mindset?

Here are three ways

  1. Openly embrace digital in all interactions

Read all: Five Pillars Of Digital Transformation: The Digital Mindset

Stowe Boyd’s 10 work skills for the postnormal era #futureofwork

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Dion Hinchcliffe tweeted out a graphic (not exactly the one below, but essentially the same) listing skills for 2020 in contrast to 2015 offered up by the World Economic Forum. He got me to thinking.

I think the World Economic Forum (WEF) — or their contributors on the report, Till Alexander Leopold, Vesselina Ratcheva, and Saadia Zahidi — are at least five years out of date. I think the set of skills they list for 2020 are the sort that CEOs and HR staff would have picked for new hires in 2010, or even 2005. I don’t hear the future calling in this list.

Here’s my table of skills, which also serves as a TL;DR if you are in a hurry:

The ten skills

First of all, let’s state explicitly that we’re talking about skills that are helpful for operating in the wildly changing world of work, and note that I make no distinction between the skills needed by management versus staff. That is an increasingly unhelpful distinction, as the skill set will make clearer, perhaps.

Here’s

Read all at https://workfutures.io/10-work-skills-for-the-postnormal-era-2c07a1009a25