20% of Singapore’s workforce will be “displaced” by 2028 due to AI

According to the article by Today newspaper, around 20.6% of Singapore’s workforce will be “displaced” by 2028 due to technology and AI. This is quite scary news by the reliable newspaper Today. Although “displaced” is a tricky word and need not mean jobless or retrenched, nevertheless students should be mindful of this when they choose their major in polytechnics and university. Many esteemed jobs like accountancy, may or may not still be viable in 2028, as robots AI may likely have progressed to such a stage that they can easily take over human jobs. Non-degree jobs such as insurance agent and property agent may also be at risk. The bottom line is that if AI has progressed to the stage of being cheap and good, the big bosses will adopt it readily to lower their cost and maximize their profit.

Concerned parents and students should certainly read the below book, especially those who are about to choose their major in polytechnic or university. It is a “New York Times-bestselling guide to how automation is changing the economy, undermining work, and reshaping our lives”. As the saying goes, 男(女)怕入错行, the greatest fear of men (and women) is to enter the wrong profession. Checking out the future prediction of experts like Martin Ford is certainly a good idea. Imagine studying 4 years for a job that suddenly becomes extinct in 2028.

It is not an accident that Computer Science (and related subjects) is now one of the top and most popular majors in Singapore and many countries.

Rise of the Robots: Technology and the Threat of a Jobless Future

Source: Today

Workers in Singapore will be hit hard by technological disruptions with the Republic’s labour market set to face the largest degree of job displacement regionally in the next decade, based on a study on the impact of artificial intelligence (AI) on workers in six South-east Asian economies.

The new study by technology company Cisco and economic forecasting agency Oxford Economics also found that Singapore will have to confront the biggest mismatch between skills and jobs created among the countries in the region.

The findings were released on Wednesday (Sept 12) on the sidelines of the World Economic Forum on Asean (Association of South-east Asian Nations), a high-level gathering on innovation and entrepreneurship in Hanoi.

Data showed that about one-fifth of Singapore’s full-time equivalent workforce (20.6 per cent) will have their jobs displaced by 2028. This is higher than the figures for Vietnam (13.8 per cent), Thailand (11.9 per cent), the Philippines (10.1 per cent), Indonesia (8.1 per cent) and Malaysia (7.4 per cent).


Author: mathtuition88

Math and Education Blog

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