Issue link: https://maltatoday.uberflip.com/i/1494460
5.12.19 12 Alexiei Dingli and Rose Marie Azzopardi Prof Alexiei Dingli, Professor of Artificial Intelligence and Prof Rose Marie Azzopardi, Professor of Economics, are the lead researchers on this three-year project OPINION 9.3.2023 The junior crisis T he AI revolution is no longer a mere concept confined to science fiction novels. ChatGPT, the lan- guage model developed by OpenAI, is a testament to the unprecedented progress made in artificial intelligence. Howev- er, most people fail to realise that AI has been quietly seeping into various facets of their lives for the past decade. From the personalised recommendations on Ama- zon and Netflix to the voice assistants on our smartphones, AI is everywhere, and we are highly dependent on it. Consider search engines, for exam- ple. Google's search algorithms, based on machine learning, help us find what we're looking for quickly and accurately. Similarly, social media platforms such as Facebook and Instagram use AI to personalise our feeds based on our in- terests and behaviour. Email spam filters, e-commerce se- curity systems, and even traffic predic- tion software all run on AI engines. e problem with AI is that it's so vast and complex that people often use it with- out even realising it. But with ChatGPT's grand entrance, AI suddenly took the world by storm. e chatbot has infiltrated various as- pects of our lives, from social media feeds to dinner table discussions. It has even found its way into companies' cru- cial business decisions, thus gaining sig- nificant traction in the business world. 1,000 business leaders in the USA who either use or plan to use ChatGPT participated in a survey conducted by ResumeBuilder.com. Nearly 50% of the companies surveyed have already implemented the chatbot in their pro- cesses, with approximately half of that group saying that ChatGPT has already replaced some workers. Business leaders who use ChatGPT say they use it for various reasons, such as translation, report writing, data anal- ysis, copywriting, content creation, cus- tomer support, and meeting summari- sation, to name a few. e chatbot also aids the Human Resourcing depart- ment, with companies using it to write job descriptions, draft interview ques- tions, and even respond to applications. However, we all know that ChatGPT is far from perfect. Concerns about plagia- rism, racism, bias and accuracy abound. On the other hand, some CEOs warn employees that ChatGPT shouldn't be- come the go-to source for anything im- portant. Despite these concerns, nearly all companies using ChatGPT have re- ported savings. Furthermore, 93% of those companies interviewed say they plan to expand their use of ChatGPT. e million-dol- lar question is, of course, who will lose their jobs with the proliferation of these AI tools? Unfortunately, it's likely that junior employees, such as customer service representatives and data entry clerks, will be most affected by this technolo- gy. ese tasks are well-suited for au- tomation and can be performed more efficiently and accurately by language models like ChatGPT. is trend has already begun in Canada, with compa- nies replacing junior employees with AI-powered tools. But what does this mean for young recruits after university? With the job market shrinking and becoming more competitive, graduates need to devel- op skills that are less likely to be auto- mated. is includes skills like critical thinking, problem-solving, and creativi- ty, which require a human touch and are challenging to replicate with AI. Another option for young recruits is to focus on learning and developing skills in areas where AI can complement their work. For example, data analysis and machine learning are areas where AI can assist human workers, but the ulti- mate decision-making process still re- quires human input. Climbing the corporate ladder in the age of AI won't be easy, with young re- cruits needing to stay up-to-date with the latest technological advancements and continuously seek out new skills and knowledge. After all, the biggest threat for all em- ployees today is not that AI will take their job but rather that somebody who knows how to use AI will! Such an approach will require a more signif- icant investment in further education or seeking out mentors who can guide them through the changing landscape of the tech industry. As with all new technologies, ChatGPT will continuously evolve, and better competitors will appear on the scene in the coming months. While the economic model for using ChatGPT is also changing, it will be interesting to see how this plays out regarding sav- ings and the reorganisation of particu- lar jobs within the companies. Whilst I have no doubt that these tools will rev- olutionise business processes, they will also threaten some employees. e first hit is probably with junior employees; thus, we must make provisions to avoid the junior crisis. As the job market becomes more competitive, young recruits must focus on developing skills that are less likely to be automated while also seeking out new opportunities to work alongside AI technology. e Human Capital Research Project, sponsored by the HSBC Foundation, is in its second year of research and anal- ysis. e main aim is to develop strate- gies which will inform economic actors and educators as to the type of economy and skills-set we need to focus on, given the changes expected where the future of work is concerned. e project is co-led by Prof Alexiei Dingli, a Professor in Ar- tificial Intelligence and Prof Rose Marie Azzopardi, an Economist focusing on the Labour Market.