As the tail of the millennial generation enters the workforce, contemplates childbearing and is cemented in the world at large, there is no doubt that Millennials will experience a unique future compared to Generation X or any other generation that came before them in that case.
The world itself has evolved tremendously in recent years, and one of the biggest changes is the introduction of more advanced technology and the availability of artificial intelligence (AI) to consumers and businesses.
The generation that people like to hate is known for adopting new technologies early on; however, it remains to be seen exactly how AI will shape the post-adolescent life of 80 million Millennials, which has become the largest age group in American history.
What is AI?
Unlike robotic process automation (RPA), AI is self-learning, which means it adapts and learns how it goes. The RPA, however, performs the tasks for which it is programmed and does not adapt to change on its own. Automation software replaces people for repetitive or predictable tasks, where AI can use reason to mimic human thoughts.
A common concern for AI is that it will completely replace people in the workplace. By creating more intelligent automation, people at lower levels do jobs less than before. Where older workers are more likely to keep a job because of a mandate or seniority, young professionals will find that typical starting jobs cease to exist as AI expands and fills those types of jobs.
With 85-90 million American Millennials, the group is now the largest generation in history, and at the same time the most educated generation ever. As typical starting jobs shrink and the number of people entering the workforce increases, competition for jobs will be fierce.
In order for Millennials to survive in a workforce with ever-improving artificial intelligence and a growing supply of competing candidates, they will need to be educated and adaptable. The days of “paying the bills” with routine manual labor will be a thing of the past. Millennials will not only be the gears in the machine, in order to truly progress in the business, they will need to evaluate and recommend how to make the machine more efficient. University degrees will no longer guarantee employment, and the acquisition of a master’s or doctorate will become a prerequisite for Millennials to enter the business world.
Looking at the upcoming widespread introduction of AI by companies, Millennials will surely get used to modern technology. Thousands of companies around the world have already adopted AI. Although he fears that AI is removing the workforce, research collected by Capgemini has shown the opposite. The application of AI in business has created new roles for workers, with most at a higher level. The Gartner report gave the same forecast, predicting that AI would introduce half a million more jobs than it would eliminate in the next few years, increasing the need for highly skilled workers.
As companies want to apply AI technology to increase productivity by automating routine tasks, they will inevitably need higher machine monitoring resources. Millennials have the best chance of being engaged in these new types of roles as they will enter a workforce trained in the latest technology. It seems that with the advancement of technology, the business world will demand that Millennials behave more like “thinkers” than “those who work”.