In our contemporary economic scene with AI changing the competitive order in industries, new things are happening on how businesses see the best framework for combining factors of production to create products and services. The trifecta of people, processes and tools will remain, but it seems that when it comes to people, what matters now is experience because tools like artificial intelligent systems can provide the inexperienced component of people.
A new survey makes this clear: “A recent survey from Hult International Business School reveals that 37% of employers would rather hire AI robots than recent Gen Z graduates. This statistic speaks volumes about the challenges facing young workers face in the modern job market. This preference highlights a broader trend of increasingly taking over roles traditionally held by humans. »
Good people have a lot of implications for the nature and future of work. You need an experienced software engineer, but instead of surrounding her with entry-level coders, you provide her with AI systems that will do what those graduates would have done for her. We are already seeing entry level graduates competing with machines.
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If this trajectory continues, we may need to remove a year of college and do ancillary or industrial internships, so that students have at least a year of experience upon graduation, as companies do not are not really interested in hiring those they will train!
Sure – this may not be optimal, but note this: when you have copilot, gemini and chatpt on your laptop, you have plenty of inexperienced colleagues to support whatever you’re doing at the moment. The nature of work is undergoing a revolution and evolution as AI permeates across industries and markets. Everyone has to adapt to stay relevant.
Beyond Jobs for Youth, Look at the Power of Earning
Comment: No technology can replace young people, and AI will come and go like other technologies.
My response. Let me make an emphatic statement: the future belongs to young people. That said, belonging to the future does not mean owning the future.
Just four years ago, you could be living in Lagos and working at Microsoft, Cisco, etc., earning $7,000 a month. When AI came, they stopped most of these opportunities. You can scale back industry redesign, but that doesn’t mean architectural changes in markets, powered by AI, won’t continue.
Without mentioning names, most of the companies that feed the US and Western Europe with these young talents in Lagos, Nairobi, etc., have either gone bankrupt or scaled down operations. This does not mean that the young cutout will not find things to do in Lagos, Bombay, etc. Simply, the problem is that they can find new things, but there is growth hindered by the accumulation of wealth.
For what? Unlike in the past when the competition was against your classmates or peers, today it’s really against modern machines that can scale at incredible marginal cost positioning, distort and displace entry level youngsters, Companies may not pay them much, as the machines evolve and mature with more capabilities. This earning power is the risk and not necessarily whether these young people will have a job!
Employers prefer AI to Gen Z graduates – survey
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