The future of work in the age of AI: What students need to know

As artificial intelligence (AI) continues to reshape all industries, its influence on employment and the skills required to navigate the workforce is becoming increasingly important. During the Parami University guest speaker session, one of Parami University’s supporters, Mr.Tab Bowers, Senior Partner Emeritus at McKinsey & Company and a member of the executive team at Fair Isaac Corporation (FICO), shared insights into AI’s impact on employment with Parami’s students. Drawing on research from the Stanford Digital Economy Lab and his professional experience, Mr. Bowers highlighted three key considerations for navigating the future of the workforce. 

1. Understand how AI is changing the workplace 

AI is not affecting all occupations in the same way. From the Stanford Digital Economy Lab research findings that used U.S. employment data from ADP, one of the country’s largest payroll processing companies, Mr. Bowers explained that while overall employment across the U.S. economy continues to grow, the young workers aged 22-25 in occupations that are more exposed to AI have experienced greater employment declines than those in less exposed fields. The research also suggests that reduced hiring, rather than widespread layoffs, is a significant factor behind this shift. 

He explained that occupations involving repetitive processes and codified knowledge, such as software coding, desk research, and regulatory research, are more likely to be automated by AI. This highlights that university students should be aware of the importance of understanding how AI may reshape their chosen field of work and what skills are valued by employers before they enter the workforce. 

Mr. Bowers encouraged students to develop practical AI skills regardless of their academic disciplines. He said, “AI is going to transform companies everywhere. It is important to develop skills in using these AI tools. It does not have to be your major or the main focus of what you do, but building AI skills will be critical for accessing some of the attractive job opportunities across the economy.” 

2. Learn to use AI to strengthen human capabilities 

The distinction between AI replacing tasks and AI complementing human work is also highly discussed in the session. While AI can automate processes involving documented information and repetitive tasks, some functions that require tacit knowledge such as professional judgment, learned experience, and expertise remain more difficult to automate. 

Mr. Bowers emphasized that AI can help professionals work more efficiently, but human judgment remains essential for interpreting information and making informed decisions. This shows that AI can be used as a tool to strengthen humans’ capabilities rather than simply a technology that competes with them. Developing critical thinking, problem-solving, and decision-making skills alongside AI literacy is increasingly important across professional fields. 

3. Stay adaptable and look beyond your degree

Beyond technical skills, Mr. Bowers also highlighted the importance of flexibility when considering future career paths. Reflecting on his own journey, he shared that although his academic background was in Chemistry and Industrial Engineering, he never worked directly in either of those fields. The skills he developed through his education, including analytical thinking, problem-solving, and structuring complex problems, gave him leverage throughout his career in corporate strategy. 

This experience is a reminder that the name of the degree does not necessarily determine a single career path. The knowledge and transferable skills developed through university education can open opportunities in fields students may not initially have considered. 

Ultimately, this session offered students insights into developing skills and mindset to navigate the future of the workforce. As industries and professional expectations evolve, the ability to acquire new skills, analyze complex problems, and apply knowledge in different contexts will remain valuable throughout one’s professional career.