For subscribers
For now, AI is devouring jobs. This, too, shall pass
Chances are it will create many more jobs in the future. But the transition will pose challenges.
Sign up now: Get ST's newsletters delivered to your inbox
In the years ahead, dramatic changes are likely in the nature of work, says the writer.
PHOTO: REUTERS
Follow topic:
This is not a good time for entry-level job seekers to launch their careers. The recent evidence shows that the impact of artificial intelligence (AI) is already showing up in job markets, and new graduates are especially hard hit. The latest Private Education Institution Graduate Employment Survey, released by SkillsFuture Singapore in April, showed that only 46.4 per cent of fresh graduates found full-time work in 2024
Similar trends have been observed elsewhere. A recent study by researchers at Stanford University revealed that workers in the US aged between 22 and 25 have experienced a 13 per cent relative decline in employment since 2022, in occupations most exposed to AI, such as customer service representatives, accountants and software developers, as AI tools automate many routine tasks. The study adds that, in contrast, employment for workers in less exposed fields and more experienced workers in the same occupations has remained stable or continued to grow.
