CFO Beat
  • Accounting & Tax
  • Credit & Capital
  • GRC
  • Strategy
  • Technology
  • HR
No Result
View All Result
CFO Beat
  • Accounting & Tax
  • Credit & Capital
  • GRC
  • Strategy
  • Technology
  • HR
No Result
View All Result
CFO Beat
No Result
View All Result
Automation Fears are Real: AI Will Affect One in Every Five Jobs in Asia–Eliminating One in Eight

Figure 7: Jobs to be automated by AI within five years, by market

Automation Fears are Real: AI Will Affect One in Every Five Jobs in Asia–Eliminating One in Eight

August 1, 2019
Post on LinkedinShare on TwitterShare on Facebook

A new study by MIT Technology Review Insights in association with ADP, Infocomm Media Development Authority of Singapore, Genesys, Splunk and the Asia School of Business explores the degree to which executives in Asia Pacific are expecting and preparing for the automation of job roles.

The report, “AI and human capital”, also examines how staff working in companies across the region are responding to the increasing need to work “shoulder to software.”

Featuring an executive survey of 900 leaders as well as a new data set provided by Faethm, a future-of-work cloud software company, the report shows, by country and industry, the proportion of formal sector jobs that will become redundant through automation, and the jobs that will be augmented by AI, making them more productive and highly skilled. The findings are as follows:

  • Headcount reduction is not a major driver for AI in Asia. Corporate priorities for AI are to enhance customer satisfaction, decision-making, and reduce inefficiencies. It is likely this will lead to the loss of some roles to automation, and the restructuring of others. Yet reducing headcount is not in and of itself a top priority. Just one-third of survey respondents listed reducing labor costs as a top driver for AI.
  • The majority of companies are expecting headcount to increase. Some 77% of survey respondents expect total headcount to increase over the next five years, including in functions where AI is already being deployed. One fifth of respondents overall indicated that they expect five-year increases of more than 15%. Very few (just 3%) are predicting any headcount contraction.
  • Yet AI will affect one in five jobs in Asia—eliminating one in eight. Across 11 Asian markets, 12% of current jobs are at high risk of being automated in the next five years. The effect of AI on job automation will be greater in Asia’s wealthier economies than in poorer ones (14% as opposed to 10%). However, many more jobs in developed markets will actually benefit and be augmented by AI (11% of the total) than in less-developed markets (just 6%).
  • AI will produce winners and losers. In high-income countries, AI will result in significant job augmentation and added capacity, mostly in knowledge-intensive industries. In developing Asia, fewer jobs are augmented by technology, and little capacity is added. The impact is determined by the structure of each country’s economy, its technology-readiness, and other economic and social drivers.

“Our research shows that many industries across the region will see rapid automation and the loss of jobs,” says Claire Beatty, editor of the report. “In developed economies we’re likely to see re-skilling and redeployment. In developing markets, much more systematic planning and preparation is needed.” 

Latest Articles

Data Catalogs Essential for Data Governance and Insights but Under Deployed

Data Catalogs Essential for Data Governance and Insights but Under Deployed

August 6, 2019

Emailage and Featurespace Partner to Tackle Application Fraud

August 5, 2019

Olin Announces $100 Million Accelerated Share Repurchase

August 5, 2019

Microchip Enters Memory Infrastructure Market

August 5, 2019

Combatting Future Security Threats of Quantum Computing

August 5, 2019

Loparex Acquired by Pamplona Capital Management

August 5, 2019
Advertisement BannerAdvertisement BannerAdvertisement Banner

Editor's Picks

Combatting Future Security Threats of Quantum Computing

August 5, 2019

Loparex Acquired by Pamplona Capital Management

August 5, 2019

Unisys to Exchange Approximately $130 Million of Convertible Notes for Stock and Cash

August 2, 2019

Analytics and Data-driven Culture Help Companies Outperform Business Goals

August 1, 2019

Automation Fears are Real: AI Will Affect One in Every Five Jobs in Asia–Eliminating One in Eight

August 1, 2019

Supply Chain Visibility Builds Trust With Consumers

August 1, 2019

American Businesses Are Fixing Healthcare

July 17, 2019

Stay Connected!

Subscribe to CFO Beat

  • Please choose the newsletters you would like to subscribe to.
  • Please enter your work email
LinkedIn Twitter

About Us

  • About Us
  • Contact Us
  • Subscribe
  • Contribute
  • Privacy Policy
  • Terms of Use

Topics

  • Accounting & Tax
  • Credit & Capital Markets
  • Risk & Compliance
  • Strategy
  • Technology
  • Human Capital

Business Beat Media Network:

  • CIO Beat
  • Global Trade Beat
  • Manufacturing Beat
  • Supply Chain Beat
  • Utility Beat

© 2019 Business Beat Media, LLC. All Rights Reserved.

No Result
View All Result
  • Accounting & Tax
  • Credit & Capital Markets
  • Governance, Risk & Compliance
  • Strategy
  • Technology
  • Human Capital
  • About Us
  • Privacy Policy
  • Terms of Use

© 2019 Business Beat Media, LLC. All Rights Reserved.

This site uses cookies. To see how cookies are used, please review our privacy policy. If you agree to our use of cookies, please continue to use our site. Find out more.