Future of Effects of AI and ML on Malaysian Job Market

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As artificial intelligence (AI) and machine learning become more sophisticated, they can increasingly take on tasks that were once considered the sole domain of humans in Malaysia. AI and ML have profound implications for the Malaysian job market, as many jobs has thought to be safe from automation are now in jeopardy.

Jobs at Risk

Jobs that involve routine tasks, such as data entry or simple analysis, are particularly vulnerable to automation. A study by McKinsey & Company found that about 45% of jobs in Malaysia could be automated using current technology. This number will only grow as AI, and machine learning continue to evolve.

This advancement in tech poses a severe threat to workers who perform routine tasks, as machines could soon replace their jobs. However, the progress in automation will not be limited to these workers. Many jobs that involve cognitive tasks, such as decision-making or problem-solving, are also at risk of being automated.

And this could means that many workers across all sectors could soon find themselves out of a job as machines take over their roles. But, the good news is increase of new jobs in AI and machine learning fields. However, many of these jobs will likely require higher levels of skill and training, which may be difficult for some people to obtain.

Past and Future of Job Market

Thus, the future of the job market is uncertain. While advances in technology will undoubtedly create new opportunities, many people could find themselves struggling to keep up with the changing landscape. It is essential to be prepared for these changes and be proactive in seeking new opportunities.

In the past few years, there has been a significant increase in the application of artificial intelligence (AI) and machine learning (ML) technologies across a broad range of industries. And, this is primarily due to the advancements in these technologies that have made them more powerful and efficient. As AI and ML continue to evolve, their application will become even more widespread, with far-reaching effects on many sectors of the economy, including the job market.

In previous years, many people had speculated that advancements in technology would lead to widespread unemployment and a significant change in the Malaysian economy. While there has been some impact on different jobs, most occupations have changed rather than disappeared entirely.

The major exception is manufacturing jobs which had decreased significantly since the 1970s when they were at their peak of employment. And, this caused a lot of distress for academics, politicians, and economic theorists who thought that machines would lead to mass unemployment and poverty for workers. However, this "jobless growth" was mediated by new types of work such as service jobs and later renamed by Carl Benedikt Frey & Michael A Osborne as "the creative class." These are jobs that focus on non-routinized work, often with low capital requirements, and are typically considered advantageous in a post-automation economy.

The dawn of artificial intelligence (AI) has caused many to wonder what is next for Malaysian Society as intelligent computers take over human jobs.

Three major Categories of Human Involvement

AI can automate processes that humans once performed. There are three major categories of human involvement in work:

1. Physical activity

2. Mental activity

3. Routine work involving rule-based activities

Machines have already automated many routine tasks that don't require skill or discretion, leaving only half of all jobs at risk of automation. The other half, which requires both physical and mental skills, is harder to automate so that humans cannot compete with. For example, delivery drones have recently replaced human-operated couriers in the transportation industry. However, they still lack the senses needed to safely navigate busy streets or handle packages securely. In addition, AI is starting to be used in autonomous vehicles, which will displace many jobs related to driving.

In "The Future of Employment" from the 17th Annual World Congress on the Internet Society, Vint Cerf states that technology creates new types of work rather than eliminating them. Instead, he believes that there will be a shift away from focusing on jobs and more on tasks. And this could means that people will be hired for their skills and knowledge rather than the specific task they are performing. For example, an accountant may do bookkeeping and consulting work or tax preparation. Functions that can be automated, such as data entry, will be done by machines. Jobs based on human interaction and creativity, such as design, caregiving, and teaching, will still be highly demanded.

Effects of Technological Revolutions

It is important to remember that technology has always impacted the job market. The Industrial Revolution caused many jobs to disappear when machines replaced human labour in manufacturing. However, it also led to creating new jobs in transportation and logistics. Similarly, the computer revolution led to many new IT and software development jobs. With each technological advance, Society has had to adapt and reinvent itself. It is important to note that not all jobs are at risk of automation. Those that involve creativity, human interaction, and tasks that require a high degree of skill are less likely to be replaced by machines. In addition, those who can retrain and update their skills will be more likely to find employment in the future.

Here are some listed future effects of AI and ML on the Malaysian job market:

There will be an increase in automation and robotization, resulting in fewer jobs for humans.
The demand for high-skill workers will increase while low-skill workers will decrease.
AI and ML will increase income inequality, as the rich will afford more advanced technologies while low-skill workers will continue to struggle with job losses.
There will be a rise in new types of jobs created due to the implementation of AI and ML technologies.
New job roles related to AI and ML are expected to emerge over time, requiring highly skilled human resources, which may not be readily available due to talent shortages.
Lesser qualified workers may need training before utilizing the benefits of using AI and machine learning tools for their work activities.
The demand for data analysts who have skills in applying machine learning capabilities is projected to increase over the next few years.
Companies need to clearly understand how they can utilize AI and ML in their business processes so that they do not find themselves at risk of being disrupted by more technologically adept competitors.
Educators need to teach students how to develop job skills that will allow them to effectively use AI and machine learning technologies in the workplace.
There is an expected increase in jobs related to maintaining robots used for automation purposes.

In conclusion, while technology can eliminate many jobs, it can also create new types of work. Malaysian Society has always adapted and reinvent itself by introducing new technology. Those who can update their skills and retrain will be more likely to find employment in the future.