About this virtual keynote
Firstly, thank you to Tengku Zarina, the CEO of the Malaysian Securities Industry and Development Corporation (SIDC), the training and development arm of the Malaysian Securities Commission (SC), for asking me to be the keynote for their annual leadership summit held in Malaysia where we discussed the Future of Work and the Workforce, with a special focus on the impact that Artificial Intelligence (AI) will have on it.
While I’ve given many keynotes on this topic in the past, especially after the advent of increasingly powerful AI’s such as ChatGPT from OpenAI, this keynote was unique because unlike others where I’m often asked to present on the specific impact of AI on a company, industry, or set of job roles, in this case I was asked to explore AI’s impact on employability, employment opportunity, the workplace, and then, naturally, on investment banking itself. And it’s the first two topics especially that differentiated this keynote from many others I’ve done.
At a high level we all understand that AI will both automate and augment human work, with both beneficial and negative consequences for the workforce. However, what doesn’t get surfaced very often is how AI will change employability and employment opportunity.
For starters, thanks to personalised skills and learning assessments AI will increasingly be able to create personalised training courses for individuals which will help them learn more, faster, and thus make them more employable across a much broader range of domains than they are today. But, at the same time though, it will depress wages and flatten pay scales. Then, with regards to employment opportunities it will play an increasingly pivotal role in helping candidates find new jobs, while at the same time placing and on boarding them faster, as well as increasingly managing, monitoring, and even disciplining or firing them. And I continue.
However, despite all of this, and much more, when it comes to the important question, in this case, of will AI or could AI ever replace humans in private banking the answer isn’t what you might think, watch the video and you will see that humans in the future are still very much in the loop. That is at least until we see the rise of Androids, digital humans, and Metaverse beings, all of which will have their own unique impact on this fascinating topic.
