In Quantum physics, there is a concept called Schrödinger’s cat. Schrödinger’s cat is a thought experiment in quantum mechanics proposed by Austrian physicist Erwin Schrödinger in 1935. Quantum theory says that until measured, a quantum particle can exist in all possible states – referred to as the superstate. Erwin Schrödinger found this odd, and to communicate this, he proposed an imaginary experiment – translating this to larger objects. In this imaginary experiment, he said, the condition of a Cat in a box will be unknown until we actually open the box. Schrödinger’s goal was to prove how different the Quantum world is compared to larger objects. (just as a disqualifier to all the animal lovers like me, it was not an actual experiment and not a real experiment by Erwin Schrödinger)
I bring this to your attention because the parallel with Schrödinger’s cat serves as a reminder that predicting the precise outcome of AI replacing humans is challenging and involves uncertainties. It highlights the need for ongoing observation, adaptation, and responsible decision-making as we navigate the evolving relationship between AI and human roles in the future.
As we marvel at the capabilities of machines, the value of humans is also increasing, making them precious and scarce. The labor force participation rate is expected to decline, as per ILO. (International Labour Organization)
- Labor markets in Europe, Japan, and North America have remained tight, with low unemployment rates and recurrent worker shortages
- In the United States, the unemployment rate declined to 3.5 percent in March 2023, despite a steady increase in labor force participation
- In Europe, unemployment has also fallen to record-low levels in many countries, averaging 6.5 percent in the euro area in March 2023. Although some European economies may experience a mild recession in 2023, labor market conditions are expected to remain resilient, as businesses will likely retain workers amid significant labor shortages.
- As per ILO, on a global level, Labor Force Participation Rate will continue its downward trend until 2023, declining by 0.2% till 2024. ILO suggests – “maintaining or raising standards of living in a context of rising old-age dependency ratio will require faster productivity growth, increased LFPR, or inward migration of young workers.”
The three valuable resources of HR, which include recruitment, workforce planning, and reskilling, will be instrumental in building a successful enterprise.
In this email, I have focused more on some emerging location scenarios. Specifically, Draup believes the importance of Latin America and Africa will grow even more significantly in the next decade.
The growth of women’s talent in the technology sector in Latin America has been positive, though there is room for further improvement. However, the trajectory is moving in the right direction.
An immediate requirement is to develop a comprehensive roadmap outlining the starting roles that can lead to target roles. This map will be instrumental in facilitating the recruitment of new talent and the reskilling of existing employees.