A recent Goldman Sachs report estimated that about 300 million full-time jobs worldwide may soon be affected by AI automation. AFP
A recent Goldman Sachs report estimated that about 300 million full-time jobs worldwide may soon be affected by AI automation. AFP
A recent Goldman Sachs report estimated that about 300 million full-time jobs worldwide may soon be affected by AI automation. AFP
A recent Goldman Sachs report estimated that about 300 million full-time jobs worldwide may soon be affected by AI automation. AFP

Business

Technology

ChatGPT threat may make future generation choose healthcare jobs over finance or tech

Jobs in medical fields often involve much more human-to-human interaction and seem hard to replace with generative AI programmes

Bloomberg

April 20, 2023

  • English
  • Arabic

Parents of today’s kindergarteners should think about prodding them towards a career in the medical field.

Those are the findings of the latest MLIV Pulse survey with 678 respondents. About 40 per cent said that children currently in elementary school would be best off with a job in health care if they want to avoid being displaced by artificial intelligence.

Jobs in the medical fields often involve much more human-to-human interaction, which for now seem hard to replace with generative AI programmes such as ChatGPT.

Demographic trends may also be supporting the idea that becoming a doctor or a nurse will be a wiser choice for the youngest generation. Economists forecast massive demand for healthcare workers as the population ages in the US and around the world.

Healthcare Academy career and training fair in San Francisco, California. Economists forecast massive demand for healthcare workers as the population ages in the US and around the world. AFP
Healthcare Academy career and training fair in San Francisco, California. Economists forecast massive demand for healthcare workers as the population ages in the US and around the world. AFP

Investors have a different recommendation for those graduating from high school. Those pupils would be best off pursuing a career in tech, despite recent layoffs at Meta Platforms, Amazon and Alphabet.

Tech savvy is seen as ever more important in a world increasingly influenced by digital platforms, even as some worry AI may pose a threat to some entry-level jobs.

“The highest paying jobs were so clearly in the finance sector for two or three decades, and now tech is really competitive with that — they’re kind of neck and neck,” said Andrew Challenger, senior vice president of human resources consulting firm Challenger, Gray & Christmas.

Even with the rise of AI, Mr Challenger expects tech and finance to remain among the most lucrative careers for the next 20 or 30 years.

“I don’t see that going away,” he said.

About 52 per cent of 556 professional investors said that technology is the way to go for high school pupils. Among 122 retail investors, 48 per cent voted for tech.

Recent hiring trends support the results. While the current downturn has hit both Big Tech and Silicon Valley start-ups hard, recruiters in traditional industries — from car makers to the federal government — have rushed to snap up laid-off tech talent and new graduates.

These days, every company is a tech company, as the saying goes.

Part of the perception that the grass is greener in Silicon Valley may also stem from the way that tech has transformed the inner workings of Wall Street.

“There are lots of people that have brilliant financial minds, and yet they can't put into effect a trading strategy without relying on serious programmers to come in and actually implement it because it's moved past human beings in some ways,” Mr Challenger said.

“I can see why they feel that threat.”

As for the potential impact of AI on Wall Street, only 12 per cent said finance would be the best career option for today’s kindergarteners.

While a previous MLIV Pulse survey found that most finance professionals were confident AI would not replace them in the next three years, that confidence appears to falter over a longer time horizon.

A recent Goldman Sachs report estimated that some 300 million full-time jobs worldwide may soon be affected by AI automation.

Significant layoffs as UBS absorbs Credit Suisse, combined with earlier job-cut announcements from Citigroup, Morgan Stanley and Goldman Sachs is likely to have made the respondents lukewarm about careers in finance.

The KBW Bank Index is down about 18 per cent year-to-date compared to the S&P 500 up more than 7 per cent. The tech-heavy Nasdaq 100 is up about 20 per cent.

First-quarter bank earnings kicked off on Friday as JP Morgan Chase, Citigroup and Wells Fargo reeled in windfalls from higher interest rates that upended smaller lenders last month. But even the big lenders signalled caution, including on the hiring front.

While JP Morgan hired more people, the bank plans to keep headcount flat over the rest of the year and expressed caution regarding more buy-backs.

Most survey respondents said an undergraduate degree is still worthwhile, despite the considerable investment of time and money. Still, some suggested that going to trade school to become a carpenter, electrician or plumber — jobs which cannot be easily outsourced or automated — might be a path worth pursuing.

Twitter has cut more than 3,000 jobs since Elon Musk purchased the social media company, with some of the firings happening in the eye of the public. 'Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,' Mr Musk tweeted. AFP
Twitter has cut more than 3,000 jobs since Elon Musk purchased the social media company, with some of the firings happening in the eye of the public. 'Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,' Mr Musk tweeted. AFP
A robot retrieves a pallet of items for employees to sort at an Amazon warehouse. The e-commerce company plans to cut about 10,000 jobs and the lay-offs have started, chief executive Andy Jassy said. Bloomberg
A robot retrieves a pallet of items for employees to sort at an Amazon warehouse. The e-commerce company plans to cut about 10,000 jobs and the lay-offs have started, chief executive Andy Jassy said. Bloomberg
Facebook parent Meta is cutting 11,000 jobs, the first major round of layoffs in the social-media company’s history. 'I want to take accountability for these decisions and for how we got here,' said Meta chief Mark Zuckerberg, pictured. AP
Facebook parent Meta is cutting 11,000 jobs, the first major round of layoffs in the social-media company’s history. 'I want to take accountability for these decisions and for how we got here,' said Meta chief Mark Zuckerberg, pictured. AP
Hewlett-Packard expects to cut up to 6,000 jobs by the end of the 2025 fiscal year, or about 12 per cent of its global workforce, as computer sales slide amid consumer budget constraints. AFP
Hewlett-Packard expects to cut up to 6,000 jobs by the end of the 2025 fiscal year, or about 12 per cent of its global workforce, as computer sales slide amid consumer budget constraints. AFP
Apple, the iPhone maker, has paused hiring for many jobs outside of research and development, an escalation of its plan to reduce budgets heading into next year. AFP
Apple, the iPhone maker, has paused hiring for many jobs outside of research and development, an escalation of its plan to reduce budgets heading into next year. AFP
Digital banking start-up Chime Financial is cutting 12 per cent of its staff, or 160 people. A representative of the company said Chime remains well-capitalised and the move will position it for 'sustained success'. Reuters
Digital banking start-up Chime Financial is cutting 12 per cent of its staff, or 160 people. A representative of the company said Chime remains well-capitalised and the move will position it for 'sustained success'. Reuters
Cisco Systems is beginning a restructuring plan that will affect about 5 per cent of employees. The company says it will incur pretax charges of about $600 million for severance, termination and other costs. The employees will be given a chance to move to other jobs within the company, chief financial officer Scott Herren said. AFP
Cisco Systems is beginning a restructuring plan that will affect about 5 per cent of employees. The company says it will incur pretax charges of about $600 million for severance, termination and other costs. The employees will be given a chance to move to other jobs within the company, chief financial officer Scott Herren said. AFP
Dapper Labs founder and chief executive Roham Gharegozlou said in a letter to employees that the company had laid off 22 per cent of its staff. He cited macroeconomic conditions and operational challenges stemming from the company’s rapid growth. Dapper Labs created the NBA Top Shot marketplace for nonfungible tokens, a digital asset class that has suffered a steep drop in demand since the cryptocurrency market downturn. Reuters
Dapper Labs founder and chief executive Roham Gharegozlou said in a letter to employees that the company had laid off 22 per cent of its staff. He cited macroeconomic conditions and operational challenges stemming from the company’s rapid growth. Dapper Labs created the NBA Top Shot marketplace for nonfungible tokens, a digital asset class that has suffered a steep drop in demand since the cryptocurrency market downturn. Reuters
Intel is cutting jobs and slowing spending on new plants to save $3 billion next year, the chip maker said. The hope is to save as much as $10 billion by 2025. The headcount reduction could be in the thousands. Reuters
Intel is cutting jobs and slowing spending on new plants to save $3 billion next year, the chip maker said. The hope is to save as much as $10 billion by 2025. The headcount reduction could be in the thousands. Reuters
Lyft's cost-saving efforts include divesting its vehicle service business. It is eliminating 13 per cent of staff, or about 683 people. The company had already said it would freeze hiring in the US until at least next year. Reuters
Lyft's cost-saving efforts include divesting its vehicle service business. It is eliminating 13 per cent of staff, or about 683 people. The company had already said it would freeze hiring in the US until at least next year. Reuters
Peloton laid off 500 employees globally, or about 12 per cent of the workforce, in October. It was the fourth time this year the company has cut staff. Along with other expense reduction measures, Peloton said the move will help it reach the break-even point on cash flow by the end of the 2023 fiscal year. Reuters
Peloton laid off 500 employees globally, or about 12 per cent of the workforce, in October. It was the fourth time this year the company has cut staff. Along with other expense reduction measures, Peloton said the move will help it reach the break-even point on cash flow by the end of the 2023 fiscal year. Reuters
Qualcomm has frozen hiring in response to a faster-than-feared decline in demand for phones, which use its chips. It now expects smartphone shipments to decline in the double-digit per cent range this year, worse than the outlook it gave earlier. Reuters
Qualcomm has frozen hiring in response to a faster-than-feared decline in demand for phones, which use its chips. It now expects smartphone shipments to decline in the double-digit per cent range this year, worse than the outlook it gave earlier. Reuters
Salesforce is focusing on margins as demand for its software products slows. The company has cut hundreds of workers from sales teams as it looks to improve profitability. Since 2017, Salesforce had almost tripled its workforce. AP
Salesforce is focusing on margins as demand for its software products slows. The company has cut hundreds of workers from sales teams as it looks to improve profitability. Since 2017, Salesforce had almost tripled its workforce. AP
Payments company Stripe, one of the world’s most valuable start-ups, is cutting more than 1,000 jobs. The 14 per cent staff reduction will return its headcount to about 7,000. Co-founders Patrick, pictured, and John Collison told staff that they needed to trim expenses more broadly to prepare for 'leaner times'. Bloomberg
Payments company Stripe, one of the world’s most valuable start-ups, is cutting more than 1,000 jobs. The 14 per cent staff reduction will return its headcount to about 7,000. Co-founders Patrick, pictured, and John Collison told staff that they needed to trim expenses more broadly to prepare for 'leaner times'. Bloomberg
How green is the expo nursery?

Some 400,000 shrubs and 13,000 trees in the on-site nursery

An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo

Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery

Approximately 340 species of shrubs and trees selected for diverse landscape

The nursery team works exclusively with organic fertilisers and pesticides

All shrubs and trees supplied by Dubai Municipality

Most sourced from farms, nurseries across the country

Plants and trees are re-potted when they arrive at nursery to give them room to grow

Some mature trees are in open areas or planted within the expo site

Green waste is recycled as compost

Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs

Construction workforce peaked at 40,000 workers

About 65,000 people have signed up to volunteer

Main themes of expo is  ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.

Expo 2020 Dubai to open in October 2020 and run for six months

Managing the separation process

  • Choose your nursery carefully in the first place
  • Relax – and hopefully your child will follow suit
  • Inform the staff in advance of your child’s likes and dislikes.
  • If you need some extra time to talk to the teachers, make an appointment a few days in advance, rather than attempting to chat on your child’s first day
  • The longer you stay, the more upset your child will become. As difficult as it is, walk away. Say a proper goodbye and reassure your child that you will be back
  • Be patient. Your child might love it one day and hate it the next
  • Stick at it. Don’t give up after the first day or week. It takes time for children to settle into a new routine.And, finally, don’t feel guilty.  
While you're here
On Women's Day
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Tickets

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

MIDWAY

Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars

UAE currency: the story behind the money in your pockets
The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Leaderboard

15 under: Paul Casey (ENG)

-14: Robert MacIntyre (SCO)

-13 Brandon Stone (SA)

-10 Laurie Canter (ENG) , Sergio Garcia (ESP)

-9 Kalle Samooja (FIN)

-8 Thomas Detry (BEL), Justin Harding (SA), Justin Rose (ENG)

On Women's Day
EPL's youngest
  • Ethan Nwaneri (Arsenal)
    15 years, 181 days old
  • Max Dowman (Arsenal)
    15 years, 235 days old
  • Jeremy Monga (Leicester)
    15 years, 271 days old
  • Harvey Elliott (Fulham)
    16 years, 30 days old
  • Matthew Briggs (Fulham)
    16 years, 68 days old
Benefits of first-time home buyers' scheme
  • Priority access to new homes from participating developers
  • Discounts on sales price of off-plan units
  • Flexible payment plans from developers
  • Mortgages with better interest rates, faster approval times and reduced fees
  • DLD registration fee can be paid through banks or credit cards at zero interest rates
The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
Specs

Engine: 51.5kW electric motor

Range: 400km

Power: 134bhp

Torque: 175Nm

Price: From Dh98,800

Available: Now

Mohammed bin Zayed Majlis
Tomorrow 2021
UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

History's medical milestones

1799 - First small pox vaccine administered

1846 - First public demonstration of anaesthesia in surgery

1861 - Louis Pasteur published his germ theory which proved that bacteria caused diseases

1895 - Discovery of x-rays

1923 - Heart valve surgery performed successfully for first time

1928 - Alexander Fleming discovers penicillin

1953 - Structure of DNA discovered

1952 - First organ transplant - a kidney - takes place 

1954 - Clinical trials of birth control pill

1979 - MRI, or magnetic resonance imaging, scanned used to diagnose illness and injury.

1998 - The first adult live-donor liver transplant is carried out

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed

Jeff Buckley: From Hallelujah To The Last Goodbye
By Dave Lory with Jim Irvin

Killing of Qassem Suleimani
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Off-roading in the UAE: How to checklist
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

LAST 16

SEEDS

Liverpool, Manchester City, Barcelona, Paris St-Germain, Bayern Munich, RB Leipzig, Valencia, Juventus

PLUS

Real Madrid, Tottenham, Atalanta, Atletico Madrid, Napoli, Borussia Dortmund, Lyon, Chelsea

Russia's Muslim Heartlands

Dominic Rubin, Oxford

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

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More on Quran memorisation:
2020 Oscars winners: in numbers
  • Parasite – 4
  • 1917– 3
  • Ford v Ferrari – 2
  • Joker – 2
  • Once Upon a Time ... in Hollywood – 2
  • American Factory – 1
  • Bombshell – 1
  • Hair Love – 1
  • Jojo Rabbit – 1
  • Judy – 1
  • Little Women – 1
  • Learning to Skateboard in a Warzone (If You're a Girl) – 1
  • Marriage Story – 1
  • Rocketman – 1
  • The Neighbors' Window – 1
  • Toy Story 4 – 1
Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Sly%20Cooper%20and%20the%20Thievius%20Raccoonus
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Sucker%20Punch%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Sony%20Computer%20Entertainment%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%202%20to%205%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
MATCH INFO

Mainz 0

RB Leipzig 5 (Werner 11', 48', 75', Poulsen 23', Sabitzer 36')

Man of the Match: Timo Werner (RB Leipzig)

UAE currency: the story behind the money in your pockets
The specs

AT4 Ultimate, as tested

Engine: 6.2-litre V8

Power: 420hp

Torque: 623Nm

Transmission: 10-speed automatic

Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)

On sale: Now

Updated: April 20, 2023, 3:30 AM`
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