HANOI: Innovations in artificial intelligence (AI) technology, coupled with its increased adoption, will have a big impact on the workforce across the ASEAN (Association of Southeast Asian Nations) over the next decade, according to a new study launched here today by two global firms.
Cisco and Oxford Economics launched the study titled “Technology and the Future of ASEAN Jobs” in Vietnam’s Hanoi city which is hosting the World Economic Forum on ASEAN.
According to the study, the more widespread adoption of existing technologies, coupled with advances in the use of AI through software, hardware, and robotics, will help bring down costs of goods and services, driving up demand and creating millions of new jobs.
The study predicts that the sectors that will see the greatest rise in demand for new workers are wholesale and retail (1.8 million new jobs), manufacturing (0.9 million), construction (0.9 million), and transport (0.7 million).
However, there will be a marked shift in the region’s labor market as lower-skilled jobs are displaced. According to the study, given the productivity gains from adoption of AI-enabled technologies, ASEAN’s six largest economies will require 28 million fewer workers by 2028, more than 10 percent of the current workforce, to achieve the same level of output as today.
Lower-skilled workers in the service and agriculture sectors will be the most susceptible to displacement, the latter especially as new developments, for example, in global positioning systems, telematics and smart sensors, are deployed to greater effect.
Singapore could see the biggest relative impact, with up to 21 percent of its workforce being affected. The country’s strong environment for cutting-edge digital transformation allows businesses to take advantage of new innovations as they become available.
Vietnam and Thailand are next in line, with 14 percent and 12 percent of jobs displaced, respectively. In these countries, many less productive, more monotonous jobs are projected to be eliminated, leaving Vietnamese and Thai workers free to pursue jobs in more fulfilling and productive sectors, according to the report.
On Wednesday, delegates to two technology-themed sessions of the World Economic Forum on ASEAN centered their discussions on opportunities and challenges posed by AI technology, and how leaders in the region can prepare for a future of further interconnectedness, automation, and complexity.
MAJU, Azerbaijan’s varsity sign MoU for academic cooperation
KARACHI: Mohammad Ali Jinnah University, Karachi (MAJU) and Khazar University, Baku, Azerbaijan have signed Memorandum of Understanding (MoU) for academic cooperation with each other.
MAJU Dean, Faculty of Life Sciences, Dr. Kamran Azim and Rector, Khizar University, Dr.Hassan Niknafs have signed MoU.
This agreement is based on the reciprocity principle and expresses the genuine interest of both universities in exchanging students, scholars, academic information and dual degree programs, said a statement here on Sunday.
As per MoU, MAJU and Khazar University besides exchanging students and faculty/ staff will encourage the development and implementation of visiting scholars/tutors, cultural exchange, cooperative /collaborative research projects, cooperative (joint and double) degree and joint summer programs at respective campuses. The term of this agreement shall be five academic years that is 2018 to 2023.
Both Universities will cooperate for short term training programs/ projects and service – learning programs, cooperative and exchange lecturing plans and lecture content, conferences and seminars, academic supervision of graduate /post-graduate students.
As per MoU in the event of students exchange, specific arrangement for payment of related expenses, including round-trip travel, board, lodging, tuition and health insurance will be agreed upon by both universities in advance.
Chinese industrialists to invest $400 m in Sindh
HYDERABAD: The industrialists belonging to China’s Chongqing Federation of Industry and Commerce will invest $400 million in several trade and industrial projects in Hyderabad and other parts of Sindh.
The federation’s representative Zhang Yang informed a press conference at the office of Hyderabad Chamber of Commerce and Industry (HCCI) here Sunday that a memorandum of understanding (MoU) has already been signed in this regard. Yang informed that the MoU, which would last for 5 years, was signed between the Federation and HCCI in China in May this year.
He said under the MoU the investments would be made in steel, textile, and clothing, real estate, agriculture, tourism, education and training, municipal and solid waste disposal sectors. “We have declared Chongqing and Hyderabad as the friendly cities,” he told, adding that up to 34 industries and investors from Chongqing would make their investments in the joint ventures in Hyderabad and other cities of Sindh.
He told that the industrialists from the 2 cities had already maintained a promising cooperation in the industry. “We now want to further bolster the business ties in the steel, textile, real estate, and other sectors,” Yang said. He said Chongqing was a beautiful city in China and that it was home to the automobile and motorbike industry.
The Chinese businessmen said Hyderabad was a favorite place for investment where the Chinese industrialists intended to introduce advanced technology. He informed that Hyderabad was selected for the investment after HCCI submitted investment proposals to the federation. “This MoU is part of the CPEC as 34 Chinese companies will be making investments in various sectors,” former HCCI president Seth Goharullah said.
The HCCI’s vice president Ziauddin, who signed the MoU with his Chinese counterparts earlier in China, apprised that a formal agreement between the mayors of Chongqing and Hyderabad would be signed in October in Pakistan. He told that the Chinese delegations would visit Hyderabad and sign agreements with the local companies. According to him, a sub-office of the federation was also established in Hyderabad’s SITE area and it would also be inaugurated in October. The office bearers and members of HCCI were present on the occasion.
Maoist rebels kill India lawmaker: police
NEW DELHI: Maoist rebels were accused Sunday of assassinating a south Indian lawmaker and another former legislator in a brazen daytime ambush on their vehicle, police and media reports said.
Kidari Sarveswara Rao, a member of the ruling party in Andhra Pradesh state, was shot dead near the coastal city of Visakhapatnam in what police say was a targeted hit on the sitting legislator.
Former lawmaker S. Soma, who was accompanying Rao, was also gunned down in the attack blamed on Maoist fighters active in a forested belt of central and eastern India.
E. Naidu, a local police official, told AFP that Rao was on a Maoist “hit list” of powerful figures accused of having ties to bauxite miners in the mineral-rich state.
“There were some 30 Maoists in hiding. They attacked suddenly, giving no time for them (Rao and Soma) to react,” he said.
The Press Trust of India reported that a large group blocked the car and overpowered the bodyguards escorting the two officials, before turning their weapons on them.
It was the first such attack in many years in Andhra Pradesh, once a hotbed for insurgents fighting for what they say are the land rights of marginalized tribal communities.
Maoists are still active across thousands of square miles of central and eastern India known as the “Red Corridor”.
The insurgency began in West Bengal five decades ago when peasant farmers rose up against feudal landlords. Some 10,000 people have been killed since.