The future of work will have winners and losers

The future of work for our generation is going to be drastically different.

There are many trends which will present both opportunities and threats.

This will create both winners and losers.

To ensure we position ourselves correctly, it is important to first understand these trends.

1. Generative AI

This new technology will go after white-collar work.

Accenture estimates that A.I. could replace or supplement nearly three-quarters of bank employees’ working hours across the industry

According to WEF, in advanced economies like Singapore, about 60% of jobs are exposed to AI disruption, due to the prevalence of cognitive-oriented jobs.

Roles focused on data analysis, basic financial reporting and repetitive administrative tasks are highly susceptible to automation.

I personally see this happening every day. In my day job, I work at an AI SaaS company that can cut down time wasted on market research significantly. This saves significant man hours in due diligence; equity research; consulting and strategy.

In previous software companies I’ve worked at, I also get comments about how we can save headcount when it comes to social media analytics; cloud infrastructure management and finance / human resource processes.

Read: Here’s what we know about generative AI’s impact on white-collar work

2. Rise of Southeast Asia

We’re in the golden age of Southeast Asia.

The total combined GDP of 10 ASEAN countries in 2019 was valued at $3.2 trillion – making ASEAN the fifth-largest economy in the world. Collectively, we’re on track to become the fourth largest by 2030.

We also have a young population with 61% are under the age of 35.

As our neighbours get stronger, this presents both opportunities and threats to us.

We’ve seen Nissin Foods Holdings and Electrolux moved their APAC HQ to Bangkok. More companies might follow if we do not continue to remain competitive.

It is important we think about our future and how we can remain ahead in terms of technical competency; network; language ability and soft skills.

3. Layoffs

The end of the low interest rate environment has resulted in multiple waves of layoffs over the past two years.

This trends continues due to the “obsession” over efficiency and the emergence of AI.

The news of constant reshuffling within companies is unlikely to stop. It could even signal a “new normal” where layoffs are commonplace.

The big question here is - In the face of all these changes, what can we do about it?

During our panel, Halynne, Jacqueline and I discussed how we can stay resilient and thrive in changes.

🔨Have insatiable curiosity

Expose ourselves to new experiences, read extensively.

Approach others for help and guidance but remember to do it in a way that is empathetic and also first demonstrate we’ve already down our homework.

🔨 Have a bias for action

Bias for Action is about moving decisively forward, without waiting on perfect information or the perfect plan.

This is a principle introduced by Jeff Bezos and also something I like very much about my bestfriend.

Why procrastinate? A year later, you’d wish you begin today.

🔨 Focus on what we can control

A bird sitting on a tree is never afraid of the branch breaking, because her trust is not on the branch but on her own wings.

Focus on becoming so good that we can pick ourselves quickly despite the waves.

This is something I wish we could share during the panel

Check out my LinkedIn post here

Why are you always tired after work?

I chanced upon a Reddit post titled Adults 25-35, what’s your energy level like?

The author lamented:

I often get asked where I find the energy to engage in volunteer work; spend time with people I love and to be a creator - despite working as an Enterprise AE at a pre-IPO company.

The number one mistake people make with time management is neglecting energy management.

You can always free up pockets of time but if you don’t have energy, that is wasted.

How do you generate energy?

💪🏼Exercise 3-4x a week

💤Sleep at regular times

🥙Eat whole foods

🌞Get morning sun

🏃🏻‍♀️Get moving and use a standing desk

A disciplined structured life is not restrictive. Contrary to that, it gives you energy and freedom.

Recommendations: The dangers of a Dad Bod

Many people use age and parenthood as an excuse for letting themselves go.

When you have a dad bod, it means you're storing an unhealthy amount of visceral fat ( fat that's found in the abdominal cavity).

Carrying too much visceral fat is extremely harmful. It's linked to a higher risk of type 2 diabetes, insulin resistance, heart disease and even certain cancers

If you know someone with a lot of fat around their waist, send them this video!

You could save their life.

I am a Singaporean tech worker and content creator. Every week, I share ideas on how we can become our best selves in our career; finance; health and relationships.

💙 Hit reply and share your views with me or drop me a DM