Killing the Middlemen, Except for ONE

ISSUE
What is the actual risk posed by GenAI

The era of using manpower for efficiency purposes is long gone since the invention of machinery during the 19^th century, except it kept going due to the low computing power that was prevalent all along up until recently (Aug 2020), with computing power able to crunch huge amounts of data and syntax computations within milliseconds.

Especially at risk are repetitive tasks.  They are replaced by tiny but very efficient AI tools that can easily plug into existing business resource planning software.  How can you protect your job or business against this speeding wave of transformative power?

Before we move on, let us make a small clarification on Artificial Intelligence’ two main types. Most people mix between AI and Generative AI.  Artificial Intelligence “AI” defines the elements of a problem and provides options in the form of highly efficient solutions. Generative AI “GenAI”, on the other hand, like ChatGPT, Bard, and Claude add a Decision-Making layer, a generative output in the form of text, speech, image, video, or a precognitive trigger. Merely add a contextual loop to GenAI and you have a working agent capable of querying, researching, finding, and booking your tasks for you. 

Which jobs and businesses at risk
The reason GenAI is going to replace many jobs is the huge savings in time and money that it will allow businesses to enjoy while producing superior results than those of humans. The following is a list of jobs at risk of becoming obsolete (some are much sooner than others):

• Tech jobs (Coders, computer programmers, software engineers, data analysts)

• Media jobs (advertising, content creation, technical writing, journalism)

• Legal industry jobs (paralegals, legal assistants)

• Medical jobs (Radiologists, Lab Technicians, Medical Reporters)

• Hospitality jobs (front desk staff, chefs, waiters, concierge, storekeepers)

• Education jobs (Teachers, Trainers, Tutors)

• Finance jobs (Financial analysts, personal financial advisors)

• Equity Market jobs (Stock Traders & Analysts)

• Creative jobs (Graphic designers, copy writers, architects)

• Banking jobs (manual tellers, clerks, loan officers, sales officers)

• Market research analysts

• Accountants & Auditors

• Customer service agents

• Office Administrators

ChatGPT, Bard, and Claude are just the early providers of GenAI, as their scope is a general one.  The real dramatic shift of GenAI will be experienced once task-based models start going mainstream.  Many of the services we use now will be produced, delivered, or both produced and delivered by GenAI tools. 

The ONLY industry or job that gets the EXCEPTION and cannot be killed: Marketing.  You see all the above-mentioned jobs are replaced with much higher efficiencies, however, marketing cannot be replaced with efficiency because it is not driven by it.  Marketing is driven by the effectiveness of a transferable value, how good of a value conveyed by the marketer and perceived by the consumer. This does not mean if you are in marketing, you remain the same. 

SOLUTION
Will GenAI Replace or Enhance jobs and industries?

For those who adopt GenAI tools, they will not only be protected, but they will also move to higher jobs and produce superior productivity. When embraced, GenAI can create new opportunities and augment existing roles. Here are some strategies to augment your job/business with the wave of transformative power:

1. Embrace AI and Automation: Instead of resisting AI, consider how it can enhance your job or business. Identify tasks that are repetitive or time-consuming, which can be automated to free up your time for more strategic and creative endeavours.

   Example: A data analyst can use AI algorithms to automate data collection and cleaning, allowing them to focus on data interpretation and providing valuable insights to the business. We will share many more examples in various fields in the coming weeks.

2. Upskill and Adapt: Invest in learning new skills that complement AI and automation technologies. Stay updated with industry trends and seek certifications or training programs to remain competitive. We have a dedicated section below that informs you about the latest trends in GenAI with links for you to explore immediately.

   Example: If you're a customer service representative, learning about AI chatbots and natural language processing can help you work alongside these tools to provide better customer support. And learning is different than knowing to operate them. Learning how they are built adds powerful knowledge to your capabilities, using No-Code alternatives if you choose.

3. Focus on Creativity and Critical Thinking: AI can handle routine tasks, but it often struggles with creativity, emotional intelligence, and complex problem-solving. Cultivate these skills to add unique value to your job or business. You work on effectiveness while you rely on AI to produce your work in a much faster and accurate way.

   Example: A graphic designer can use AI tools for basic design tasks but adds value by creating innovative and emotionally engaging designs that AI cannot replicate. So, you choose WHAT is of value to your user, while rely on AI to produce the non-emotional task for you.

   

   Every industry is transformed by GenAI

4. Find Niche Opportunities: Identify niche markets or specialized areas where AI hasn't yet made significant inroads. These areas may offer a competitive advantage and protection against obsolescence. It actually allows you to become creative, because creativity requires free time, and AI allows you to get that extra free time.

   Example: In the legal profession, lawyers who specialize in complex, high-stakes litigation may be less susceptible to automation compared to those handling routine contract reviews.

5. Collaborate with AI: Collaborative partnerships between humans and AI can be powerful. Work alongside AI systems to leverage their capabilities and enhance your own productivity. Always remember that AI is fully acquired from humans in the first place. 

   Example: Financial analysts can use AI-powered prediction models to inform investment decisions, combining their expertise with AI's data analysis capabilities for better results.

6. Build a Personal Brand: Develop a strong personal or business brand that reflects your unique skills and values. This can make you indispensable in your field and less susceptible to automation. This is the BIGGEST reason why GenAI can easily replace humans, because they are not unique in their productivity. Once you become unique, you automatically develop a personal brand, one that is irreplaceable because it offers a unique value.

   Example: A social media influencer or content creator builds a personal brand that attracts a dedicated audience, making them a valuable partner for businesses seeking to reach their followers. They become always ahead of the curve in their industry, and make full use of AI to stay there all the time.

7. Continuous Adaptation: Recognize that the technology landscape is always evolving. Be prepared to adapt and pivot as new tools and trends emerge. Make full use of AI itself to stay current or ahead of the technological landscape.

   Example: Businesses that pivoted to offer online services during the COVID-19 pandemic were more resilient than those that remained solely reliant on physical operations.

MOVING ON

While AI and automation do pose challenges to traditional jobs and businesses, they also create many opportunities for those who are willing to adapt, learn, and collaborate with these technologies. By staying proactive and focusing on skills and qualities that are difficult for AI to replicate, individuals and businesses can protect themselves from obsolescence and thrive in the digital age.

In the upcoming weeks, we shall tackle specific at-risk industries with their relevant jobs. We will explore practical use cases so you may reflect on your own situations and reverse the risk into great opportunity while many other people are waiting for the great wave to wipe them out.

LATEST AI

WhatsApp introduces Generative AI image creator
Very soon you’ll be able to create your own images using GenAI to share on WhatsApp. Meta introduced image creation AI tool to create images on the go and share them with friends and family, free of cost and will be introduced gradually within the coming few months to all WhatsApp users around the world.
- META announces AI tools on WhatsApp (click to view)
- WhatsApp blog explains how it works and available tools (click to view)

ChatGPT 4-Turbo is out and world events are updated till April 2023
Just yesterday, OpenAI announced their latest update of ChatGPT 4-Turbo which has world events up to April 2023 (it used to be mid-2021). Also, they reduced their token pricing and most importantly, it is multimodal, which means you may now input not only text but visual inputs. Try it here.

OFFER

Read 5 consecutive weeks (Tuesdays) of this newsletter + leave a comment on which AI tools or news you would like us to cover, and you will receive a FREE One-on-One 1-hour Consultancy on how to improve your job or business using GenAI (original price is USD 400)