[Global Scholar Interview] Schenker: "Education is the Solution to AI and Job Competition... Korea is in a Good Position to Seize New Opportunities"

'Global Futurist' Jason Schenker, Chairman of Prestige Economics
Highlights Korea's Strength in Data and Technology Adoption Culture... Predicts Economic and Social Polarization

[Asia Economy Reporter Seulgi Na Cho] "Korea is in a good position to seize the opportunities that artificial intelligence (AI) will bring. If you are afraid that AI will take away jobs, it is more important than anything else to learn new skills through education."

Jason Schenker, chairman of Prestige Economics and a global futurist (pictured), stated in a written interview with Asia Economy on the 23rd, "Every industrial revolution has led to structural changes that disrupt many people's lives, and the 4th Industrial Revolution is no different."

He emphasized responding to the changes of the era through continuous and high-quality education, saying, "AI can bring even greater opportunities in the future." Schenker, regarded as the world's most accurate financial forecaster and futurist, gained attention earlier this year for his sharp predictions on changes in various fields such as work and education following the spread of the novel coronavirus (COVID-19).

Schenker identified the industrial sector as the area expected to undergo the greatest change due to AI. He predicted, "AI will act as an enormous lever for companies," adding, "The number of companies and industries utilizing AI to create additional value based on data will continue to increase."

Regarding concerns that AI will take away people's jobs, he drew a clear line, saying, "All technologies replace human labor," but "at the same time, they will enable people to do more work." For example, even if truck drivers disappear, new jobs such as 'autonomous truck driving system managers' could emerge. He stressed, "If you are afraid of losing your job, it is important to improve your skills (through education)," and added, "There is a statistically significant negative correlation between job risks caused by AI and robots and education."

Schenker also forecasted that AI would deepen economic and social polarization. However, he pointed out that access to and availability of education are key factors in this regard.

He continued, "The levers of economic growth are technology, capital, and labor, and it is necessary to utilize these well," diagnosing, "The core is education. Problems can be solved through additional education." He explained that if appropriate education is provided at both individual and social levels in response to technological changes, it is possible to adequately cope.

In particular, Schenker evaluated that Korea is in a good position to seize the opportunities AI will bring. Praising Korea's ICT development over the past decades, he said, "Korea has developed a culture that embraces data and technology," and viewed this dynamism as positive in the long term. However, regarding Korea's current AI technology level, he indirectly pointed out that it has not yet reached a global standard by saying, "It is making progress, but other countries are also making considerable efforts."

As advice to the Korean government and companies, he repeatedly emphasized, "Risk management is very important in the AI era," and said, "People who lose jobs (due to AI) should be able to receive education and retraining. It is important to maintain social cohesion and prevent the possibility of structural unemployment." Earlier, Schenker also presented the vision Korea should pursue as "a country where people see the future of technology" during a discussion hosted by the 4th Industrial Revolution Committee.

This content was produced with the assistance of AI translation services.