Report Launch - Impact of Artificial Intelligence on Jobs in ASEAN

TL;DR

A study conducted by Cisco reveals that AI will lead to the displacement of 28 million jobs in ASEAN by 2028, with 6.6 million jobs requiring reskilling.

Transcript

very well hello and welcome at the next press conference of today here at the World Economic Forum on ASEAN here in Hanoi Vietnam this is perhaps let's see if it materializes but this perhaps the most exciting topic to be talking about or at least the most important question to be answered which is what will be the impact of artificial intelligence... Read More

Key Insights

• ❓ The digital economy in ASEAN has the potential to greatly contribute to GDP growth.
• 😘 The AI-enabled technologies will lead to job growth but will also result in the displacement of low-skilled workers.
• 🧑‍⚕️ IT skills and interactive skills are crucial for workers to thrive in the future labor market.
• 👨‍💼 The government, businesses, and educational institutions should prioritize reskilling and training programs to ensure a flexible labor force.
• 🎁 The displacement of jobs presents both challenges and opportunities for ASEAN countries.
• 💱 The impact of AI on jobs is uncertain, but efforts should be made to prepare for the changes it may bring.
• 🥺 AI advancements may lead to more interesting and fulfilling jobs in the future.

Questions & Answers

Q: How many jobs will be displaced by AI in ASEAN by 2028?

The study projects that 28 million jobs will be displaced in ASEAN by 2028.

Q: Which industries will see job growth in ASEAN?

The manufacturing, wholesale and retail, construction, hotels and restaurants, finance and insurance, public administration, and IT industries are expected to see job growth.

Q: Which countries in ASEAN will be most affected by AI job displacements?

Indonesia will see the largest impact, with 9.5 million job displacements, followed by Vietnam with 7.5 million, Thailand with 4.9 million, and the Philippines with 4.5 million.

Q: How many jobs will require reskilling due to AI advancements?

Around 6.6 million jobs will require reskilling, with workers needing to acquire new skills such as problem-solving, design thinking, leadership, collaboration, conflict resolution, and empathy.

Summary & Key Takeaways

• ASEAN's digital economy presents opportunities for growth, with the potential to add a trillion dollars worth of GDP by 2025.

• The manufacturing, wholesale and retail industries are expected to see job growth, while the services and agricultural sectors may be most vulnerable to the impact of AI.

• Indonesia, Vietnam, Thailand, and the Philippines are projected to be the most affected countries, with millions of job displacements.