Singapore: AI Job Disruption, Hiring Shift & Youth Unemployment with Shiyan Koh - E552

Shiyan Koh, Managing Partner of Hustle Fund, and Jeremy Au explored the growing challenges of youth unemployment in Singapore and how AI is fundamentally changing the job market. They discussed how the rise of automation is making entry-level roles less necessary, leading companies to prioritize experienced hires who can work with AI rather than train fresh graduates. They also examine how AI amplifies the gap between high and low performers, making adaptability and self-motivation more crucial than ever. They also talked about the need for educational reforms that focus on problem-solving and real-world applications, as well as how young professionals can position themselves for success in an AI-driven economy.

1. Youth unemployment rates are increasing – In 2022, 94% of Singapore university graduates were employed within six months, but by 2024, only 87% of fresh graduates had secured full-time jobs.

2. AI is displacing entry-level jobs – AI tools are replacing tasks traditionally done by junior employees, reducing the need for new hires, especially in roles like market research, legal functions, and writing.

3. Companies prefer experienced hires – Businesses are opting for experienced workers who are comfortable using AI tools, reducing the reliance on entry-level hires due to the high cost of training and managing juniors.

4. AI benefits top performers – High performers in companies are already leveraging AI, while low performers are falling behind, highlighting that AI does not necessarily level the playing field.

5. The challenge of learning through apprenticeships – Entry-level positions have traditionally been apprenticeships where workers learn the craft. With fewer junior roles available, the next generation of workers may lack the experience needed for senior positions.

6. Education needs to change to foster agency – Shiyan suggests that education should focus on helping students develop agency and problem-solving skills by working on open-ended real-world problems, rather than simply memorizing facts.

7. The importance of finding passion and adaptability – As AI changes the job landscape, young professionals must be passionate about their work and adaptable to new tools like AI to remain competitive in the evolving market.

Watch, listen or read the full insight at https://www.bravesea.com/blog/ai-job-disruption

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