The global economic system is changing with the rapid advancement of artificial intelligence (AI). For economic developers, this presents both challenges and unprecedented opportunities. We are standing at the forefront of a technological revolution, and it is important to develop strategies that harness AI’s potential. We also need to plan to mitigate the disruptive effects on local workforces and economies. 

It has been predicted that six years from now, we will have AI exceeding human capabilities in every dimension. It has been said that there will not be any job that AI cannot do cheaper and better than human beings. As parents, we are concerned about what our kids will do in the future. What course should they take? In the near term, we are looking at becoming AI or robotic engineers, but interpersonal skills hold more importance in the long run. Life will have many different expectations when machines take care of everything around us. 

 For international students looking to pursue higher education, it is important to understand the shift, as it will shape the future job market. Here we take a look at the impact of AI on employment, its scope, and how we need to adapt to the changing job market. 

Understanding the AI and How it is Shaping the Job Market

The AI is having a far-reaching and complex impact on employment. Many fear that they will lose their job. People speculate that what they are doing today will be taken over by a robot tomorrow morning. We all should understand that innovation in the human race has happened multiple times, for example when calculators were invented, Oxford University professors protested, fearing that mathematicians would be irrelevant. 

Whenever a major change in technology occurs, it divides the world into two segments: one consists of people who embrace the change and use it to their benefit, while the other falls behind and needs help to catch up with the innovations. For example, when emails were invented, mailmen did not lose their jobs, however, their importance in the world did not remain the same as it was before the invention. The advent of AI is similar to this phenomenon. In place of completely replacing human workers, AI will complement them. There are areas where the incorporation of AI has seen employment growth, particularly in the high-skilled roles. 

The nature of work is changing dramatically. We should understand that job loss is different from job displacement. The skills of people that are in demand today will become obsolete and to stay employable they will have to learn new skills. Jobs that mostly involve repetitive work will be taken over by AI and looking at the positive side of it, people will have more time to do other productive work.

Diverse Thoughts Trying to Define the Future with AI

A narrative perpetuates that AI is here to take all our jobs. The fact is AI will not take our jobs, but it may displace those people who need to learn about AI. At present, it is too early to say where AI is going, however, it will certainly raise the need to adapt. For example, new car models are using AI in every way, however, most of us have yet to learn the majority of the features that are available through that AI. We are using the same driving licence that we used at the age of 16. AI will be a part of our lives, but, soft skills are going to matter a lot. When it comes to doing more creative and collaborative work, cultural awareness is going to matter. 

Companies globally view human capital as their most important asset and AI may change how companies manage human capital and most likely move towards human development. Even in the absence of AI, less than four per cent of companies have invested in upskilling their workforce. AI is going to change all that and companies will invest more in their human capital assets and push them towards upgrading the talent they already have.

Adapt According to New Jobs Created by AI

The discussion on how individuals, societies, and economies can thrive amid the rapid growth of AI also highlights the effect on students planning to study abroad. These students will have to deal with a world that is being shaped by technology and the evolving job market. AI may acquire the ability to innovate itself in the future and quite possibly bring out a better version of itself. Things will move faster than before, and what concerns us more is that they can move in an extreme direction suddenly.

Upskilling and continuous learning will be more critical than ever. A 2018 report from the World Economic Forum stated that more than 54% of workers will require significant reskilling by 2022. For international students, this means the need to select programmes that incorporate both technical skills and soft skills like problem-solving, adaptability, and communication.

Curriculum Design and Learning Path

As AI is increasingly being used in many industries, educational institutions overseas are promoting programmes related to data science, AI, and machine learning. The expectation from international students is to pursue education in one of these fields. AI also blends with areas of study like medicine, arts, and law, creating hybrid disciplines for international students to pursue. 

Also Read: How 2025 will Shape up for International Students

New study disciplines will be coupled with new methodologies for teaching. AI-powered learning tools have made it possible for students to learn through hybrid or fully-remote mode. AI has also opened up doors for global project-based learning and virtual internships. It allows students studying overseas to gain global exposure and network with peers worldwide without the need to travel physically.

It is because of this changing dynamics of learning, that visa policies from developed economies have been modified to attract talent as per future needs. Students who understand this change and have made their study plans accordingly will be readily accepted by these countries. The US, Canada, Australia, and the UK are looking for something other than international students who will continue to do repetitive work, but those who can ink new technology. Prepare your study plans with overseas education consultants in Chandigarh. 

The Takeaway

AI is changing the way companies are working. Consequently, it is also redefining the skills and knowledge demanded by these companies. For international students, it is better to embrace the potential AI holds, and enrol in programmes that integrate AI skills. By adapting according to the changes, international students can position themselves to thrive in the AI-driven world.