The APRU (Association of Pacific Rim) Universities, which includes the National University of Singapore, was involved in the project on “Transformation of Work in the Asia Pacific in the 21st Century”.
The volume discusses the uncertainty surrounding human capital development and employment in the age of the digital economy. The employment market is likely to experience large displacement with jobs not only in the unskilled or repetitive / routine segment under threat but also in the PMET categories with the advancement in Artificial Intelligence (AI).
While the industry prepares for the disruption and creation of new opportunities, companies that lack the necessary skills for automation, organisational structure and processes needed for digital transformation will be driven out of business. However, the impact on industry will vary according to different sectors. The shift in skills required would also increase income disparity between workers with high demand skills and low demand skills.