?? ChatGPT, is AI coming for my job?

This is a reduced version of thrive's newsletter. Sign up here to get the complete version in your inbox every week. We are also on Instagram and TikTok!

?? Will AI be our friend or foe at the workplace??

"Now that there's ChatGPT, are journalists still needed to report the news?"?

This is a question that I've been asked countless times since generative artificial intelligence (AI) became mainstream in 2023. And I'm sure I'm not the only one wondering if I should be concerned.?

AI has found its way to roles such as fact-checking, image creation, data analysis and website building, to name a few. Now, there's even AI to tell you the types of AI bots that are available out there (just in case you're curious about what could replace you).?

But hey, if we can't beat 'em, maybe we should think of joining 'em. So how should we "join forces" with AI in a way that won't render us obsolete?

This week, we explore the phenomenon of AI anxiety and how young adults can approach AI's growing place at work.?

In this week's issue?

• Wage growth remained unchanged at 0.4 per cent with fewer firms giving pay raises in 2023
• Learn more about personal finance ?? with thrive’s new video series ??
• Understanding how to utilise AI to benefit our careers ??

?? A real threat??

A study conducted by US researchers last year found that freelance graphic designers and copywriters faced a significant decline in the number of jobs they received within a few months of ChatGPT's launch.

Despite the rather gloomy findings, industry watchers say that there are still limits to how far the technology can fully replace workers, especially for those in multi-faceted roles. Rather, AI is likely to become integrated into many more aspects of our work in the next decade, particularly in the fields of finance, healthcare, education and entertainment.?

For example, the most common form of AI today is large language models (LLMs) – computational models trained on vast amounts of data to perform basic tasks, such as ChatGPT and Claude. However, there are still many instances of these models producing errors or "hallucinations," which are false perceptions by the AI presented as facts.?

Atelier Shen, head of product at The Business Times (and our resident tech aficionado), says that AI isn't quite there yet.?

"(LLMs in particular) excel in conversation and specific tasks like customer service or content summarisation, but aren't yet capable of replacing end-to-end human work or decision-making roles, in my view," he adds.?

Since AI can't be held accountable for errors, there is still demand for human work to check and process data and information, as well as for roles that involve managing the AI, say industry watchers.?

"The responsibility of managing AI and its outcomes still lies with humans, ensuring that AI complements rather than replaces human jobs," Shen says.?

His work in the BT newsroom, for example, focuses more on automating tasks to help staff, rather than to replace them. The main aim of his efforts is to use technology to simplify tedious jobs such as text formatting and information collection.?

A study by the Harvard Business School conducted with consultants at Boston Consulting Group (BCG) found that staff who were assisted by AI produced work assessed to be 40 per cent higher in quality.

However, those consultants assisted by AI still missed certain subtleties when analysing quantitative evidence from qualitative materials. This is where the human element of experience and subject matter expertise shows its value. Workers who know how to use AI as a tool have the most to gain, as they can bring their work to the next level.

?? Must we join the AI rat race?

Whether AI will replace us or not, many people in Singapore don't want to be left behind, especially when one's career is at stake. Nearly 74 per cent of workers here express concern regarding AI job redundancy as compared to 60 per cent of employees globally, according to a survey by consultancy Oliver Wyman.?

Another study by professional services firm KPMG notes that the supply of skilled technology and AI talent is still limited at a global level, with around 30 per cent to 70 per cent of data, security and development job postings unfilled.?

But must we all rush to become AI engineers or scientists, just because this technology is taking off now??

"It's probably more practical for the average person like you and me to focus on applying AI in our daily lives, rather than hyper-focusing on learning certain technical aspects (for the sake of it)," Shen says. "The former alone can be quite remarkable."?

Still want to keep up with the AI hype? Here are some easy things to do to get you started ??:?

• Start experimenting with ChatGPT and other AI tools in your own personal life first: You can try sending simple prompts to generate an itinerary for your upcoming four-day trip to Phuket or suggest creative ideas for a friend's birthday celebration. Once you become more familiar with these tools, you can move on to exploring other coding sites such as Python or GitHub to see what else you can build online for yourself!?
• Practice using different AI and data management tools at work: There's nothing like hands-on learning. See how each update of ChatGPT can better organise your research for work, or try using these tools to build something that can improve your work quality. If you're feeling confident and ambitious, volunteer to helm a project at work using AI to help your team.?
• Join professional AI-related interest groups: This could help you engage with professional organisations and online communities related to AI and technology. Such groups on messaging apps or social media platforms can also be helpful for keeping updated on what's developing in the AI space.?
• Listen in to AI talks and participate in community events: AI webinars can be a quick and easy way to get in some learning of the industry for you in an hour or two after work. For those who wish to go the extra mile in understanding the industry, participating in conferences or local meetups to network with professionals can help you learn about the latest industry trends.

Whether or not AI will come for your job, it makes sense to learn more about the tools you could well be working with in the days to come ??. That way, you’ll be better prepared for what the future will bring.

TL;DR

• AI can be a formidable force in the workplace, but it isn't flawless and still requires human management?
• Some jobs may get phased out, but there will be more job opportunities in the technology and AI talent space, too?
• There's no point in taking a technical AI course for the sake of it unless you wish to find a job that requires those skills ??
• It's more important to understand how AI tools can ease and improve our work and daily lives well ??

For the complete issue, sign up for the full version here. What do you think about today’s newsletter? Let us know at [email protected].