What economic leaders say about AI’s future in Davos workforce
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Artificial intelligence quickly became a tool that many companies are looking to use in the coming years. According to Forbes64% of companies believe that AI will help improve productivity, but many workers say that an increase in workplace prevalence can reduce the number of jobs available. I’m afraid.
In late January World Economic Forum in Davos, SwitzerlandYahoo Finance executive editor Brian Sozzi sought a variety of economic leaders a perspective on AI’s status in the workforce.
Here are some of the highlights.
Ted Pick, CEO and Chairman of Morgan Stanley AI sees it as a tool to take care of everyday tasks such as taking notes. But in the end it won’t replace the human side that will thrive many businesses.
“Yes, AI is very important,” he said in his opening bid. You don’t need to write your notes because someone spits it out. Reports for specific memos for 20 hours are reduced by 80%… (but) we still need humans in order. That will never change. ”
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Although AI could make certain daily tasks easier to complete, he argued that much of his business is relationship-driven.
“We talk about strictness, humility, partnerships. Without a relationship timeline, no one would be so impressed,” Pick said. “I’m worried about small details. You may be off – you get the wrong question and you give advice (it’s not correct at all) – but you’re right (it’s ). And you’re focused on that client over time.”
NASDAQ CEO Adena Friedman also felt that the biggest pull in AI was his ability to handle more common tasks.
“AI can write these reports,” she said. “So you can give them facts and AI can write reports. It’s just a time saving. Just like any other regulatory report. So there’s a lot… using technology And it can get rid of a lot of work of memorization that is very boring.”
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She also predicted that AI would be a particularly useful tool in curating recommendations for individual investment portfolios and answering client questions.
“AI (continued) drives interesting ways to engage investors and make predictive decisions using algorithmic AI,” she said.
Economist Nouriel Roubini: AI will eventually replace many jobs
Economist Nouriel Rubini,Dr. Doom“ Optimistic outlook for the future of AI In business. While many consider it a useful tool to help eliminate more mundane tasks, he believes that the rapid growth of AI will quickly outweigh job availability.
“There are two views,” Roubini, professor emeritus at NYU’s Stern School of Business, said in the opening bid. “One is that AI complements existing jobs and replaces some, but creates many new jobs, namely future jobs. But the other view is that time passes. As a result, a lot of work will eventually be replaced by AI. We are not going to do enough work. And over time, I think the latter view will be correct.”
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He elaborates, and “a groundbreaking integration between software and hardware” will allow blue-collar and white-collar jobs to progress as AI develops knowledge and speculate at the PhD level. He said it would be easily replaced.
“It’s scary, but it’s going on in the next – literally, in a year or two,” Rubini said. “And I think it’s going to be a bigger revolution than (generic) AI.”
“These technologies are capital-intensive and highly skill bias and save the workforce,” he continued. “Therefore, if you own a machine or a capital that owns a machine, you will do well. But if you are a low-skilled or medium-sized white-collar (or) blue-collar (worker), then you will have to do your best. Jobs and incomes are increasingly threatened by AI, and there is not enough work in the future.”
People pass signs promoting AI at the World Economic Forum in Davos, Switzerland on January 17, 2024. ・SOPA Images via Getty Images
Billionaire Ray Dario reflects AI and leadership lessons
The extent to which AI disrupts the work will ultimately depend on how it is implemented in the workforce.
For investors and those looking at major technological developments, “AI opportunities will join the application…and who will use it,” says Ray Dalio, an investor and hedge fund manager. I said that. “It’s very similar to the Internet and the dot com period.”
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Dario did not directly comment on whether AI would disrupt the workforce, but he reflected on some of the leadership lessons to create an effective organization.
Most importantly, Dalio said, understand how to bring together the values, abilities and skills of workers.
“I want the meritocracy of ideas that have a roughly meaningful relationship to meaningful work through radical truthfulness and radical transparency,” he said. “In other words, can you share what I think with you in a non-hierarchical way? Can you share with me (you)? And together, we have the best ideas Can you get it?”
Three times a week, Yahoo Finance executive editor Brian Sotzi FieldsInsightful conversations and chat with the biggest names of your business and market Opening bid. You can find more episodes with us Video Hub Or look at you Priority streaming service.
