RAMON GONZALEZ ON THE FUTURE OF AI IN BUSINESS

Being interviewed by nothing less than an Artificial intelligence interviewer, in this
ironically posed discussion, Ramon Gonzalez Cambray delves into the transformative
effects of artificial intelligence on the labor market and the evolving skill sets required
in various  sectors.  By doing so, he  shares  insights  into the role  of  AI  in  shaping
economics, its impact on traditional job roles, and how organizations can adapt to ensure workforce readiness in an AI-driven world. Mr. Gonzalez is a renowned economist and academic, currently directing the world’s best online MBA in Spanish, where he holds the role of preparing the next generation of business leaders and top-tier administrators.


Interviewer: Thank you, Mr. Ramon Gonzalez Cambray, for taking the time to speak with us today. Could you please share your insights on the role of artificial intelligence (AI) in business and economics?
Artificial intelligence is revolutionizing business and economics by enabling unprecedented levels of efficiency, personalization, and innovation. In the business area, AI is instrumental in enhancing decision-making processes through data analysis, automating repetitive tasks, and fostering the development of new products and services. Economically, AI contributes to productivity growth, facilitates new market creation, and can potentially increase economic equality through innovative solutions to complex problems. However, it also presents challenges, including the displacement of certain job categories and ethical considerations around privacy and the inequality gap.


Interviewer: How do you perceive the role of artificial intelligence (AI) in shaping the labor market and economics?
AI is reshaping the labor market by automating tasks that were previously performed by humans, particularly those that are routine and predictable. This shift is leading to the transformation of job roles and the creation of new types of employment that demand skills in AI management, development, and oversight. Economically, AI is driving efficiency gains and productivity but also requires careful management to mitigate inequalities that may arise from technological displacement. The key challenge is ensuring that the economic benefits of AI are broadly shared across society.


Interviewer: In what ways do you anticipate AI impacting traditional job roles and industries?
Traditional job roles, especially in sectors like manufacturing, transportation, and customer service, are being significantly impacted by AI through automation and optimization. This transition necessitates a reevaluation of the skills workforce needs, as there's a growing demand for professionals who can work alongside AI, leveraging its capabilities to enhance output and innovation. Industries are also witnessing the creation of entirely new categories of jobs focused on AI development, ethics, and policy. In fact, Macrotrends and technology are set to drive a mixed outlook for job creation and destruction in the next five years, across job categories and industries. The green transition, technological change, supply chain transformations, and changing consumer expectations are all generating demand for new jobs across industries and regions. Demand for AI and Machine Learning Specialists is expected to grow by 40%, or 1 million jobs, as the usage of AI and machine learning drives continued industry transformation. Recent research on Generative AI indicates it may affect a significant proportion of total worker tasks. However, this does not distinguish between tasks being augmented vs automated. This is most likely to affect higher-wage roles and jobs with greater barriers to entry.


Interviewer: With the rise of AI, what changes do you foresee in the skills and requirements for professionals across various sectors?
The rise of AI emphasizes the need for a shift in skills and requirements across various sectors. Following the World Economic Forum's Future of Jobs Report 2023, there is an increasing demand for technological literacy, and creative and analytical thinking skills. Professionals must be adept at working with AI tools, interpreting data-driven insights, and making decisions based on complex information. Soft skills, such as creativity, curiosity, emotional intelligence, resilience, agility, and adaptability, are becoming more critical, enabling humans to focus on tasks that require human empathy, judgment, and innovation. Reskilling needs, 44% of workers’ core skills are expected to change in the next five years. In fact, according to recent research, AI and Big data are also growing in importance as future skills.


Interviewer: How can organizations adapt to leverage AI while ensuring workforce readiness and employability in the evolving job market?
To adapt and thrive in an AI-driven world, organizations must invest in continuous learning and development programs to ensure their workforce is equipped with the necessary skills. This includes training in AI-related technologies, fostering a culture of innovation, and promoting interdisciplinary collaboration. Organizations should also focus on ethical AI use, ensuring transparency, accountability, and fairness in AI applications. By doing so, they can leverage AI to enhance productivity and innovation while ensuring workforce readiness and employability in the evolving job market.
As skills are being disrupted, businesses are designing and scaling up their training programs. In the 2023 Future of Jobs Report, companies estimated that 41% of workers had completed training that bridged skills gaps. Universities require rethinking how students learn and how they deal with new situations. In Executive Education and MBA programs, we also want to focus on the different ways of working and how business managers and professionals can be more efficient and productive by using AI to adapt to the current environment, and above all with both an economic and social impact, moving forward towards sustainability and digital transition.

In closing, it has been a privilege to engage in this insightful conversation with Ramon Gonzalez. Through the power of AI, we have delved into thought-provoking topics and gained valuable perspectives on the future impacts of this new technological breakthrough. We extend our gratitude to Ramon for his time and expertise, and we look forward to continuing to explore the possibilities of AI-driven conversations in the future.