Motion: Andre Low on artificial intelligence transition with no jobless growth
Companies face two choices when confronted with artificial intelligence - augmentation, where AI works alongside employees; and automation, where AI replaces them. Singapore’s declared direction is augmentation, but its current policy architecture is “miscalibrated” in key areas, permitting automation instead, said NCMP Andre Low in parliament on Wednesday (May 6). Explaining his views, he made several proposals - a retraining tax credit for firms that can show they have retained a worker in an AI-augmented role instead of retrenching them; a redundancy insurance scheme in place of the SkillsFuture Jobseeker Support scheme; and an annual AI gains audit, reporting to parliament on how productivity gains from state-backed AI investments are distributed between wages and returns to capital.
Companies face two choices when confronted with artificial intelligence - augmentation, where AI works alongside employees; and automation, where AI replaces them. Singapore’s declared direction is augmentation, but its current policy architecture is “miscalibrated” in key areas, permitting automation instead, said NCMP Andre Low in parliament on Wednesday (May 6). Explaining his views, he made several proposals - a retraining tax credit for firms that can show they have retained a worker in an AI-augmented role instead of retrenching them; a redundancy insurance scheme in place of the SkillsFuture Jobseeker Support scheme; and an annual AI gains audit, reporting to parliament on how productivity gains from state-backed AI investments are distributed between wages and returns to capital.
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