Artificial intelligence (AI) is rapidly revolutionising business operations and reshaping the way individuals approach their work. Across industries, AI serves as both a disruptive force and a catalyst for innovation, transforming processes, redefining job roles and driving the evolution of the future of work. 

At the recent 2024 Global Lifelong Learning Summit (GLLS), held from Oct 1 to Oct 2 at the Grand Copthorne Waterfront, Mr Edmund Lin, chairman of Southeast Asia at management consultancy Bain & Company, provided valuable perspectives on the integration of AI in businesses and its implications for the changing landscape of work and education.

“These emerging technologies require workers to acquire new and different skills to take advantage of generative AI and other innovations,” Mr Lin emphasised during his keynote.

Co-organised by the Institute for Adult Learning Singapore (IAL) and SkillsFuture Singapore (SSG), GLLS 2024 served as a dynamic platform where industry leaders, academics and pedagogy experts exchanged insights on how lifelong learning fosters inclusive economic growth and helps workers adapt in an ever-evolving workplace. 

A GAME-CHANGER IN BUSINESS

AI has become a key driver of transformation across a wide swathe of industries. Mr Lin pointed to its broad impact across sectors, enhancing processes like content generation, knowledge retrieval and workflow automation.

According to Mr Lin, AI has already made significant breakthroughs in healthcare, particularly in medical diagnostics, where its ability to process vast amounts of data has revolutionised imaging analysis, detecting diseases like cancer earlier and more accurately than traditional methods. Similarly, sectors like finance and manufacturing are leveraging AI to improve efficiency and enable smarter decision-making.

In retail, AI enables companies to personalise customer experiences, tailoring email campaigns and sales scripts based on individual preferences. In sectors like utilities, AI automates invoice generation and proposal development, drawing from multiple data sources to streamline these tasks.

While AI adoption presents transformative potential, it isn’t without its challenges. Mr Lin identified two big challenges consistently faced across industries. “One is how you build internal capability, which involves upskilling your workforce. The second is that AI demands a robust IT and data infrastructure, and many companies are still lagging in establishing that foundation.”

During the panel session, Mr Dileep Rangan, director of APAC expert labs sales at IBM, concurred. “The No 1 issue holding companies back is the lack of in-house expertise or resources,” said Mr Rangan. 

HOW AI IS CHANGING THE WAY WE WORK

Despite these hurdles, AI is reshaping the nature of work, creating new opportunities for innovation, growth and efficiency. While automation raises concerns about job displacement, Mr Lin posited that most jobs will not disappear but instead be enhanced by AI, allowing employees to focus on higher-value tasks. He added that in this evolving landscape, human traits like creativity, critical thinking and emotional intelligence will become increasingly essential.

According to Mr Lin, in fields like finance, where repetitive tasks are common, nearly 50 per cent of job roles could be impacted by AI automation. Conversely, human-centric roles like education are less likely to be impacted by automation, which underscores the enduring value of human judgement and interpersonal skills in certain sectors.

Workforce expectations are also shifting in response to these changes, with flexibility, opportunities for learning and a sense of purpose emerging as top priorities.

This is especially true for younger generations of workers, especially those from Gen Z, said Mr Lin. Born into a digital era and intrinsically more mobile, this group is more likely to demand flexibility, continuous learning and impact-oriented work. AI can help meet these expectations by automating routine tasks, freeing employees to concentrate on meaningful, purpose-driven work.

THE NEW ERA OF LEADERSHIP

For leaders, AI presents both opportunities and challenges. While it can enhance decision-making and operational efficiency, AI also demands a shift in how leaders manage talent and develop their workforce. Mr Lin encouraged leaders to prioritise upskilling their teams, to ensure employees not only adapt to AI but thrive in an augmented work environment.

With real-time insights and predictive analytics, AI can empower leaders to make better-informed decisions, anticipate trends and identify growth opportunities. However, few leaders have yet to develop a comprehensive strategy for its implementation.

This could be due to a variety of factors, including time and resource constraints, difficulty in aligning development programmes with evolving business needs and a lack of engagement or buy-in from employees.

To address this, Mr Lin advised companies to integrate upskilling into daily workflows by offering flexible, bite-sized learning and incentivise participation through recognition or career progression opportunities. They should also ensure learning initiatives are tied directly to strategic objectives and future workforce needs.

LIFELONG LEARNING: THRIVING IN AN AI-DRIVEN WORLD

As AI continues to transform industries and job roles, the need for lifelong learning is more important than ever. Mr Lin stressed that continuous education is crucial for staying competitive in an AI-driven job market. Modular, competency-based learning programmes are becoming more popular as they allow professionals to quickly acquire new skills as technology evolves.

Mr Tan Kok Yam, Chairman of IAL Council and chief executive of SSG, said: “We are all well aware of the increasingly transformative impact of AI on industry, businesses and jobs. It is crucial that we equip our workforce with the necessary skills to stay ahead of developments.”

IAL provides a range of courses that helps employers upskill their workforce and prepare their employees for an AI-driven future. With options ranging from short courses to a master’s degree, these programmes focus on key areas such as AI integration, workplace learning facilitation and leadership in education.

By embedding these into operations, companies can build adaptable teams equipped to navigate AI advancements while cultivating creativity, emotional intelligence and problem-solving skills.