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What is the Future of Work?
How does Artificial Intelligence affect our workforce in the business events industry?
Technology and digitisation are rapidly changing the way we work. The accelerated adoption of technology during pandemic has impacted the work-life balance perspective of the workforce. AI has the potential to revolutionise the way we work, help with the talent shortage crisis (maybe), but also raises questions about job displacement and re-skilling.
This article explores the Future of Work and how AI affects the workforce in the business events industry, providing Key Insights gathered from expert speakers across Hong Kong, Singapore, and Sydney with the use of SPARK – The AI Tool by Eventprofs, for Eventprofs.
The Result:
Key Insights on Future of Work and AI in Business Events Industry gathered from Hong Kong, Singapore, and Sydney
This Venn diagram below visually showcases how certain key insights are unique to each main topic presented by our expert speakers, while others are shared and emphasise the close relationship between “Future of Work” and “Artificial Intelligence” in shaping the future of our workforce.
Click on each button below to be redirected to each section.
Key Insights:
Based on the expertise shared by our speakers from Hong Kong, Singapore, and Sydney, we have compiled the key insights that reflect the impact of AI on the workforce:
Key Insight: Future of Work
The future of work requires inclusivity and effective identity management to ensure a diverse and inclusive workforce.
Rapid Change
The current era is experiencing rapid change, requiring adaptability and embracing new technologies for success in the evolving work landscape
Work-Life Balance | Anti-Work Movement
Work-life balance and the anti-work movement are significant trends that are influencing how people perceive and prioritise work.
The Tang Ping “躺平” (lying flat) movement in China, where Chinese youth rejects overworking by lying flat, reflects a re-evaluation of the role of work in people’s lives, emphasising the need for a healthier work-life balance.
Inclusivity and Diversity | Upskilling and Reskilling
The future of work requires inclusivity and effective identity management to ensure a diverse and inclusive workforce.
Continuous learning and upskilling are important to adapt to technological advancements, and cognitive and workplace technology skills are crucial for future job requirements.
Key Insight: Intersection between Future of Work and Artificial Intelligence (AI)
New Job Roles
Generative AI, such as Chat GPT, is reshaping job titles and the events industry, leading to the emergence of new roles by 2035.
Impact of AI on Jobs
AI is predicted to create 300 million jobs but also replace certain roles, particularly highly skilled knowledge workers.
Importance of AI Skills
Technology positively impacts jobs but requires caution and preparedness for potential changes, including upskilling, to navigate the evolving employment landscape effectively.
Adaptability to Technology
Learning how to effectively use AI is crucial to stay relevant, maximise benefits, and thrive in the job market’s ever-evolving landscape.
Key Insight: Artificial Intelligence (AI)
AI has the potential to enhance work and replace tasks, with examples like ChatGPT and Bing Chat, but there are also cautionary notes on potential risks and limitations.
AI Applications
AI finds diverse applications in sectors such as airports, healthcare, and government agencies, bringing efficiency, innovation, and enhanced decision-making capabilities.
AI tools are available for law, marketing, event planning, and other fields to generate content and assist professionals.
Generative AI
Generative AI language models can generate text, images, and audio, and prompt engineering and customisation are possible.
Personalisation via AI | Increase of Productivity and Efficiency
AI enables personalised experiences in events, integrating with hospitality and lifestyle industries while enhancing creativity and efficiency in event planning.
AI boosts productivity, allowing for more reflective time and smarter work, improving efficiency in various tasks.
Legal Implications
Copyright issues arise with AI-generated content from copyrighted material, requiring careful attention to legal implications.
Speaker Quotes:
Let’s hear from our expert speakers, who shared their industry insights and real-life experiences at the PCMA APAC Labs:
Hong Kong Labs
“AI is not new, but understanding its latest developments is important for the future.”
“Copyright issues arise when AI generates content from copyrighted material.”
Andy Chun
Regional Director of Technology Innovation, Prudential plc, Hong Kong
“AI cannot interact with other humans and is not as creative as humans.”
“People who know how to use AI to do better are going to replace those people who don’t.”
Jonathan Easton
VP Design, Gevme
Singapore Labs
”AI is not magic, it’s just math.”
“AI and Machine Learning is not new… It has been around, embedded into our fridges, our washing machines, and so on.”
Laurence Liew
Director for AI Innovation, AI Singapore
“AI is a tool that will be used to replace tasks and will not replace jobs.”
“There’ll be more jobs created by AI, that humans will have to level up in order to keep ahead.”
Tay Ee Learn
Chief Sector Skills Officer, NTUC LearningHub
“AI could help us start the ball rolling and facilitate discussions.”
”AI’s usage is possible for many areas of work, even legal work.”
Veemal Gungadin
Founder & CEO, Gevme
Sydney Labs
“Generative AI, like ChatGPT, is like your own personal intern.”
“People no longer want to sacrifice personal time to climb the corporate ladder.”
Dr Ben Hamer
Futurist, Author, and Podcast Host
“AI can enhance productivity and efficiency in event planning.”
“The future of AI will see significant advancements and the integration of mixed reality, virtual reality, and the metaverse.”
Daniel Tjan
Director, Business Innovation, Gevme
Participants’ Contributions:
Our participants also shared their thoughts and experiences on artificial intelligence:
1) What are some of the other AI tools you have used / are using?
- ChatGPT
- Midjourney
- Microsoft Bing
- Notion
- WolframAlpha
- Otter.AI
- Bard (Google AI)
- FireFly
- Spotify & Netflix AI
- SlackGPT
- RevenueMan.AI
- Canva
- COLOSSYAN
- Copy.AI
- Vidable
- AI Arta
2) What tasks do you think AI can help you in your everyday work?
- Content summarising and reviewing
- Meeting scheduling, notes collation, etc.
- Data Analysis for reporting and evaluation
- Event content generation and idea brainstorming
- Research: Competitor, Industry/market, speaker, etc.
3) Imagine a future where these tasks are automated and executed by AI. What would that mean:
For you? (Personal / Work)
- More time to develop, reflect and enhance oneself as a person and in career
- More time to strategise, network and think creatively
- More personal time to focus on other aspects of life
For your team?
- Increased productivity, efficiency, and focus level
- More time and opportunities to upskill themselves and fine tune product offerings
- Lesser admin work and more time to be spent on tasks that require human touch such as experience design and idea generation
For your organisation structure?
-
- Company structures become leaner and more efficient
- Industry knowledge and experience for strategic planning becomes more relevant as AI optimises other repetitive tasks.More time to strategise, network and think creatively
Conclusion:
As the business events industry continues to embrace technological advancements, AI stands out as a powerful tool that can shape the future of work. The insights gathered from experts across different cities emphasise the importance of inclusivity, upskilling, and adaptability in preparing the workforce for the evolving landscape. By understanding and effectively utilising AI, professionals in the business events industry can harness its potential to drive innovation and achieve success in their endeavours.