Motion: Jamus Lim on artificial intelligence transition with no jobless growth
Efforts should mainly be directed towards policies that promote new hiring, rather than those that focus either on reducing displacement or pushing for retraining, if the objective is to protect the workforce from job losses that could result from an economy-wide embrace of AI. MP Jamus Lim, who highlighted this point in parliament on Wednesday (May 6), stressed the need to prioritise policies that target the hiring end of the labour market, such as improving the incentives for companies to hire fresh graduates and rolling out targeted policies that will help to sidestep the hesitation in hiring them. This would help to ensure that the growth promises of AI are not overshadowed by fears of millions of missing jobs, he said.
Efforts should mainly be directed towards policies that promote new hiring, rather than those that focus either on reducing displacement or pushing for retraining, if the objective is to protect the workforce from job losses that could result from an economy-wide embrace of AI. MP Jamus Lim, who highlighted this point in parliament on Wednesday (May 6), stressed the need to prioritise policies that target the hiring end of the labour market, such as improving the incentives for companies to hire fresh graduates and rolling out targeted policies that will help to sidestep the hesitation in hiring them. This would help to ensure that the growth promises of AI are not overshadowed by fears of millions of missing jobs, he said.
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