Millennials: How will artificial intelligence affect your future?

As the end of the Millennial generation enters the workforce, considers having children, and establishes itself in the world at large, there is no doubt that Millennials will experience a unique future compared to Gen X or any generation other than them. preceded. for that matter.

The world itself has evolved enormously in recent years, one of the biggest changes being the introduction of more advanced technology and the accessibility of Artificial Intelligence (AI) for consumers and businesses.

The generation that people love to hate is known to be pioneers in adopting new technologies; However, it remains to be seen exactly how AI will shape the post-adolescent lives of 80 million millennials, who have become the largest age group in American history.

What is AI?

Unlike robotic process automation (RPA), AI is self-learning, meaning it adapts and learns on the fly. However, RPA performs the tasks for which it was scheduled and does not adapt to changes on its own. Automation software replaces humans with repetitive or predictable tasks, where AI can use reason to mimic a human’s thoughts.

Challenges

A common concern with AI is that it will completely replace people in jobs. By creating smarter automation, humans are doing fewer lower-level jobs than before. Where older workers have a better chance of keeping their jobs due to tenure or seniority, young professionals will find that typical entry-level jobs will cease to exist as AI expands and fills those types of positions.

With 85-90 million American millennials, the group is now the largest generation in history and also the most educated generation of all time. With typical entry-level jobs declining and the number of people entering the workforce increasing, competition for jobs will be fierce.

For Millennials to survive in the workforce with ever-improving AI and an ever-increasing supply of competing applicants, they will need to be informed and adapt. The days of “paying your dues” through routine manual labor will be a thing of the past. Millennials will not simply be cogs in the machine, to truly prosper in business, they will need to evaluate and recommend how to make the machine more efficient. College diplomas will no longer guarantee employment, earning a master’s or doctorate will become a prerequisite for Millennials to enter the corporate world.

Profits

In light of the upcoming widespread introduction of AI by businesses, Millennials will certainly get used to modern technology. Thousands of companies around the world have already adopted AI. While the fear is that AI is cutting jobs out of the workforce, research compiled by Capgemini has shown the opposite to be true. The implementation of AI in companies has created new roles for workers, most at the top level. The Gartner report gave the same forecast, predicting that AI will introduce half a million more jobs than it will eliminate in the coming years, increasing the need for more skilled workers.

As companies look to implement artificial intelligence technology to increase productivity by automating routine tasks, they will inevitably need more higher-level resources to monitor machines. Millennials have the best chance of being hired for these new types of roles, as they will enter the workforce trained in the latest technology. It seems that with the advancement of technology, the business world will require Millennials to act more like “thinkers” than “doers.”