Have you heard of recent advances in artificial intelligence? Chat GPT and similar technology systems are impacting the employment environment and making some jobs obsolete. According to various sources, 50% to 80% of jobs are at risk. This includes not only manual and repetitive task jobs but also tasks that require advanced cognitive abilities, like writing complex content, creating computer apps and programs, and making art and design. Jobs that are considered safe are those that can’t be replicated by a robot, I.e. those jobs that require a human element such as empathy and social behavior skills.
How can you protect yourself from the effect of advances in technology? Here are a few things you can do:
1. Stay aware of the situation. Learn about the technological advancements happening on a daily basis and be aware of how they are affecting the world around you.
2. Know what skills and jobs are in demand and ensure your skills remain relevant.
3. Have a plan. One mistake employees make is over dependence on their current job. Have an alternative plan to safeguard your career and financial future. Here are some things that can be included:
– Have an alternative career plan that incorporates skills that are safe, such as becoming a nurse, therapist, or an employee relations manager.
– If you are a minimum wage or low-skilled employee, enroll in a training program to upgrade your skills.
Learn about the technological advancements happening on a daily basis and be aware of how they are affecting the world around you.”
– Build a two-year emergency fund. Save a portion of every salary. At least 25% of your salary of your salary should go to saving.
– Invest in established businesses. This should be a portion that you can risk to lose, not all your savings. Vary the types of organizations you invest in. Don’t put all your eggs in the same basket.
– Buy real property. If you can’t buy, choose a lease to ownership agreement. If you can’t buy a house, buy a small shop that you can rent out and sell later on.
– Start a side business or at least decide on a business idea and start researching and planning it.
– Don’t waste money on unnecessary things. There is no reason to buy the newest phone or car when your current one is still working. The practice of annually changing your phone, car, and other belongings is the worst one and benefits rich corporations only.
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Written by Kokab Rahman.
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