The Rise of Generative AI and the Jobs that Follow

By Alvin Toh 

The rapid advancement of generative AI is transforming businesses and workplaces globally. While some roles are being replaced by AI, the technology is also creating exciting new career options across industries, writes Alvin Toh, CMO of Straits Interactive.

Jobs involving repetitive, predictable tasks like data entry, telemarketing, and basic customer service are most susceptible to replacement by AI chatbots and automated systems. For example, call centre agents responding to common customer queries can now be handled by sophisticated chatbots. They use natural language processing that can communicate in human-like ways with more comprehensive answers and quicker recommendations.

Legal roles like paralegals and junior lawyers conducting research and drafting basic documents are also seeing their workload automated by AI tools like Casetext and LawGeex. AI can review and summarise lengthy case files and legal contracts much faster than humans.

However, many jobs require capabilities that AI does not yet possess, such as critical thinking, creativity, and emotional intelligence. The key differentiator is for workers to focus on uniquely human strengths and embrace the functions that AI can help accelerate. It is unlikely to be a total replacement of many jobs but rather an augmentation of human capabilities.

Even as functions are being replaced by AI, new job roles are being created. The new roles will require those who know how to harness AI to enhance business processes and create new products and services.

    How is AI changing business operations?

AI is making business operations more efficient, data-driven and customised. A June 2023 McKinsey report stated that automation by current generative AI and other technologies has had the most significant impact on revolutionising cases such as Customer Operations, Marketing, Sales, Software Engineering (for Product Development and Corporate IT), and Product Research and Development (R&D). These are the areas in which most organisations have begun and will likely continue to involve AI and see positive contributions to operational efficiencies impacting the bottom line.

Customer service and marketing are using AI chatbots to engage consumers 24/7. Sales teams leverage AI to analyse customer data and generate insightful pitches. HR departments automate resume screening and use machine learning to source better job candidates.

Generative AI takes this further by creating original content (in multimodal forms such as text, images, audio, and video) to boost marketing and communications. For example, generative AI can generate product descriptions, draft press releases, and create content outlines, presentations, and mockup images based on baseline product information. This saves time for human writers to focus on high-value creative tasks.

    Impacts on client relations

Client relations are becoming more personalised through AI. Chatbots interact in natural conversation and can be trained on a company's products and services to address client needs better.

With multilingual capabilities, AI chatbots can converse with global customers in their native languages. Firms such as JP Morgan Asset Management use AI to deliver tailored insights to clients based on their portfolio and risk appetite, augmenting the capability and value of their financial advisors.

AI is enabling more creative engagement too, to create brand affinity with younger customers. For example, Universal Music Group is exploring AI collaboration tools that let fans create original melodies with licenced vocals from their favourite artists.

    New opportunities with human-centred AI roles

While parts of jobs are being automated, new specialised roles are emerging around managing AI responsibly.

In product development, there is a need for skilled AI professionals who can develop AI systems trained on diverse datasets and guide machine learning models for specific industries or specialisations, with ethical controls built in early.

There are several ethical AI principles and concerns an AI business professional would want to weigh in on as part of the considerations:

• Security and Privacy: Identify data privacy violations and manipulation of the foundational model
• Fairness and Inclusiveness: Recognise biased data sets and collections.
• Accountability: Flag unauthorised use of the Gen AI beyond its stipulated use or entities
• Safety and Human-centred Values: Point out misleading content, misinformation or propaganda
• Explainability and Transparency: Integrate human reviewers into the judging process of the authenticity and quality of the generated content. While many firms focus on metrics like Peak Signal-to-Noise Ratio (PSNR) or Structural Similarity Index (SSIM) when it comes to an objective assessment of AI-generated videos, they should be complemented with qualitative reviews.

There is also demand for AI business professionals who determine practical applications of AI for companies and are able to measure tangible impacts.

As AI becomes ubiquitous, data privacy/protection/governance officers are increasingly needed to assess ethical risks, avoid legal pitfalls, and ensure transparency. Understanding AI governance will be vital in anticipation of impending global AI regulations currently being considered by governments worldwide in 2023.

    The right mindset for working with Generative AI

There are three pillars from which you would want to approach this: Create Value, Reduce Risk and Manage Constraints. You can do this in two parts.

First, develop a strong grasp of what generative AI can and cannot do to increase the value of your work, as well as the risks and constraints. Be well-informed on how to perform due diligence on this evolving technology before implementation to weigh the benefits against the risks. Draft policies that set boundaries for acceptable use of generative AI and train the staff how to use these technologies within the guardrails.

Second, focus on the unique human strengths augmented by generative AI, not just blind automation. When approaching AI tools, always emphasise critical thinking, creativity, and emotional judgement so that you may tread wisely. The field is rapidly evolving - with the right mindset, education, and adaptability, there is a bright future for the AI Business professional.

    Staying one step ahead

The regulatory landscape is still evolving, from data governance to copyright laws surrounding the intellectual property of AI-generated content. Stay abreast of the latest developments in AI and best practises for responsible and ethical implementations.

AI may not replace you, but those who know how to use it will. With the right education, you can evolve into an AI Business professional who can help steer organisations in the right direction to maximise this wave responsibly.

This article was first published on The Fast Mode on 2 October 2023.