Citi Global Perspectives & Solutions (GPS) report

The transcription discusses the advancements in AI and how it compares to human capabilities. It highlights that AI is already excelling in areas such as accessing and remembering information, as well as sharing knowledge. It also mentions that AI could potentially help identify and mitigate human biases. However, it emphasizes that humans still have valuable skills that AI lacks, such as physical dexterity, critical thinking, creativity, and human connection. The report suggests that education systems need to be revamped to focus on developing these skills, including open-ended questions and fostering a culture of continuous learning. It also mentions the importance of developing T-shaped skills, which involve deep expertise in one area and a broader understanding of other fields. The report concludes by highlighting the availability of online resources for learning and the need to embrace lifelong learning to adapt to the AI-driven future. Hey everyone, welcome to another Deep Dive with us. Today we're tackling a really interesting report from City GPS, talking about all the stuff we love, like how to thrive in the age of AI. They got some amazing experts in all sorts of fields to weigh in. It's really a fascinating read. Yeah, and they get into some pretty, well, mind-blowing stuff right off the bat, like the idea that some of the most advanced computers, they're already on par with the human brain. Yeah, and of course they just keep getting better and faster all the time. So where does that leave us, right? I mean, can computers actually outperform human brains? Like, is that even possible? Well, that's one of the big questions the report tackles, and the answer might surprise you. Like, they use this really interesting example just to illustrate how much computing power has changed. They talk about, well, the iPhone 12. Okay, everyone has an iPhone, what about it? Well, just saying, it's like 5,000 times faster than the most powerful computer back in 1985. Wow, that's hard to even imagine like what that kind of processing power even means. It's pretty mind-boggling. And then, you know, think about the computer that took us to the moon on Apollo 11. Yeah, incredible piece of engineering for its time. Totally, but the iPhone, it's like 900 million times faster than that. So yeah, I guess that kind of puts things into perspective a bit. It does, and this is just the beginning. AI is already kind of winning, I'd say, in a few key areas. Like, just think about access to information. It's like AI has the whole internet at its fingertips all the time, just an insane amount of data to learn from. And not just access, right? It can actually remember it all. Exactly, perfect memory, basically. Stores these massive amounts of data, never forgets anything. We humans, we can't even come close. And then, when it comes to actually sharing knowledge, well, that's another area where AI just blows us out of the water. Right, like, think about how long it takes us to learn, well, anything new, really. You know, 10,000 hours to master a skill, that kind of thing. But AI, it can just, like, share knowledge instantly across, I don't know, like, entire networks. Exactly, like self-driving cars. You know, they can all learn from each other's experiences. They're constantly improving all the time. Yeah, and if anything changes, like traffic laws or something, they can all be updated at the same time. Right, it's just a totally different level of, well, efficiency and adaptability that we just can't match. Okay, so AI's got information, memory, and knowledge sharing down pat. Plus, it can be upgraded all the time, right? New features, new capabilities. We're kind of stuck with, you know, the same old hardware. Yeah, pretty much. But there's actually one area where you might be surprised to learn that AI could actually have an advantage. Yeah. And that's bias. Really? That's interesting, because, I mean, we always hear about AI bias, right? Like how it can perpetuate these harmful stereotypes and stuff. Yeah, and those are totally valid concerns. Like, AI can, you know, inherit biases from the data it's trained on. Which, let's face it, often comes from us, you know? Yeah, we're not exactly the most objective species. But here's the thing. Because AI processes information in a more, well, objective way, it could actually be used to, like, help us identify and even, like, mitigate our own biases. So, like, AI could actually help us become more aware of our own biases and, I guess, build fairer systems. Exactly. It needs really careful development, of course, but there's a lot of potential there. That's pretty amazing to think about. Okay, so AI's clearly got the upper hand in a lot of ways, but what about us? You know, what makes us humans still valuable in, like, an AI-powered world? What can we do that AI can't? Well, that's the big question, right? And that's what this report really dives into next. They talk about this idea of durable human skills. Durable human skills. I like that. It sounds like something we should all be working on. They're basically the human skills that are gonna be in high demand, even if AI gets more sophisticated, and they break them down into three categories, hand, head, and heart. Okay, hand, head, and heart. I like it. Simple, easy to remember. So, tell me more about, like, what kind of skills fall under each category? Sure. So, let's start with, well, hand skills. These are all about, you know, physical dexterity, stuff that even the most advanced robots, they still have a hard time with, especially out in the real world, where things are always changing. So, like, jobs where you need to use your hands. Yeah, like, think about trades, electricians, plumbers, caregivers, jobs that require a lot of physical skill, you know? That makes sense, because, I mean, AI might be able to, like, diagnose a problem, but it still takes a human to actually fix it. Exactly. Now, head skills, they're a bit more complex. It's not just about, like, having basic cognitive abilities. It's about those higher-level cognitive skills, you know? Like, critical thinking, problem-solving, even self-awareness, things like that. Right, so you can be, like, super smart and knowledgeable, but if you can't actually think critically about that information, well, it's not gonna get you very far. Exactly. Especially these days, with, like, all the misinformation out there. And then there's problem-solving, right? AI can be great at, like, crunching numbers, finding patterns, but when it comes to those messy, real-world problems, the ones that need creativity and out-of-the-box thinking, that's where humans still have the edge. Right, because the real world, it's full of curveballs. AI might do great in the lab, but out in the real world, it's a whole different story. Exactly. And then there's self-awareness, which is a really interesting one. Yeah. AI can't really, you know, reflect on itself. It doesn't have that capacity for, like, introspection. We humans, we can use self-awareness to, you know, make better decisions, set goals. So even in a world full of AI, it's still really important to, like, understand ourselves and, you know, what we value. Absolutely. And then we get to heart skills, which are all about, you know, human connection. Things like empathy, communication, leadership. The skills that allow us to, like, build relationships, inspire others. Right. AI might be able to mimic human interaction to a certain extent, but it can't really understand emotions the way we can. You got it. And as the world gets more and more automated, those heart skills, they're only gonna become more important. Okay, so we've got hand skills, head skills, and heart skills. Three categories that are essential for, like, navigating this whole AI age. But, I mean, how do we actually develop those skills? It's one thing to, you know, know they're important, but how do we make sure we're actually ready for, like, this AI-powered future? That's the million-dollar question. Yeah. Right. And before it gets into that, too, they argue that our current education systems, they really need, well, a revamp. If we want to prepare kids for, you know, what's coming. A revamp. Like, in what way? What needs to change? Well, for starters, they think we need to move away from, like, traditional testing. You know, those multiple-choice tests that just focus on memorization. They don't really measure, you know, critical thinking or problem solving. Oh, yeah. I think we've all taken those tests. And they don't always really show, like, what you actually know or how you can use it. So what do they suggest instead? Well, they think we should be doing more open-ended questions. Things that really make you think. Analyze information. Come up with your own solutions. And even, like, open-book exams, where you can actually use resources. So it's more like how you would actually use information in the real world. Exactly. And they also say we should be focusing more on, you know, creativity, that ability to learn independently. It's not just about, you know, stuffing your head with facts. It's about learning how to learn. Right. So it's about equipping people with the tools and, I guess, the confidence to be, like, lifelong learners, which is gonna be, like, super important in a world where things are changing all the time. Exactly. And it's not just schools, right? Companies also need to foster that culture of continuous learning. It's about giving people opportunities to, you know, re-skill, up-skill. So creating a work environment where people are, like, excited to learn new things, not just, you know, clock in and clock out. Precisely. And they actually make this great analogy in the report. They say that learning new tech skills today is like needing physical strength 200 years ago. Okay, I like that. So basically, those who adapt, they survive. Exactly. We need to, like, totally rethink education. In schools, in the workplace, if we wanna be ready for this AI-driven future. It sounds like a pretty big challenge. It is. But the good news is there are already, like, tons of resources out there for people who want to learn. Online platforms like Coursera, they offer courses on basically everything you can imagine. And they're getting more and more accessible and affordable all the time. So yeah, there's really no excuse for not embracing lifelong learning. Not these days. And the report also talks about developing what they call T-shaped skills. T-shaped skills, what's that? It's like you have deep expertise in one particular area, but you also have this broader understanding of other fields. Oh, I see. So you're not just a specialist in one narrow field. You can also see the bigger picture. Exactly. And that kind of, well, versatility is gonna be more and more important as, you know, jobs change and new industries emerge. Makes sense. But, I mean, with all these different skills to learn and, like, so much information out there, I can feel kind of overwhelming. How do we keep track of everything we've learned and how do we show it to, like, potential employers? That's a good question. Like, you know, a traditional resume, it doesn't always capture everything you can do, especially those soft skills that are becoming so important. Right, exactly. Like, how do you prove that you're, you know, a good communicator or a creative thinker? And that's where this idea of skills wallets comes in. Skills wallets, what are those? They're like digital portfolios where you can showcase and, you know, verify your skills and qualifications. Oh, okay. So instead of just listing, like, your job titles, you can actually show what you've learned regardless of how you learned it. Exactly. And it's good for, well, everyone, really. Individuals, they can easily share their skills wallet with, you know, potential employers and companies. They can find the right people faster. Sounds like a win-win. Are there, like, any real examples of these skills wallets out there? Yeah, actually, there are quite a few. LinkedIn, for one, is kind of like a skills wallet. You can list your skills, get endorsements from people, and then there's OpenCerts. That's a blockchain platform where you can store and share, you know, verifiable digital certificates. Blockchain, so it's, like, secure and tamper-proof. Exactly. And then you've got some governments, like Australia and Singapore, who are developing these national skills passports. Wow, so it sounds like skills wallets are becoming a global trend. They definitely are. But here's the thing. Despite all this, you know, all the evidence showing how important training is, corporate investment in training, it's actually been declining. Wait, really? That doesn't make any sense. I mean, if these skills are so important, why aren't companies investing more in training? You'd think they'd be, like, pouring money into it, especially with AI coming up so fast. Yeah, it is kind of weird when you think about it. But the report, like, it actually gets into why this is happening. And there are a few big reasons. Like, one is just, you know, economic downturns. When the economy's not doing so hot, companies, well, they try to cut costs, right? And training, unfortunately, it's often one of the first things to go. Yeah, that makes sense. Like, when you're worried about just, you know, keeping the lights on, training can seem like, I don't know, kind of like a luxury. Right. But there are a couple of other things going on, too, which are kind of interesting. One is, well, it can be really hard to measure, like, how effective training actually is. You know, what's the return on investment? Does it actually make people more productive? Does it lead to more innovation? Yeah, I guess it's not always easy to draw a straight line from, you know, training to profits. Exactly. And then there's the, well, the tax system. Believe it or not, in a lot of countries, the way the tax code is set up, it actually encourages companies to invest more in, like, capital, you know, physical stuff. Instead of people. Yeah. New equipment, technology, that kind of stuff. Rather than investing in, you know, training their workforce. That's kind of crazy when you think about it. Like, the tax system's actually working against, you know, investing in people. Yeah, it's kind of a systemic issue. But despite all that, the report's actually pretty optimistic about, well, the future of training. They think that these durable human skills, those, you know, hand, head, and heart skills, they're actually gonna lead to, like, a huge resurgence in the training market. Oh, really? That's good to hear. So why are they so optimistic? Well, for one thing, as AI gets more and more advanced, it's gonna take over more and more of those, you know, routine, repetitive tasks. Which means what? The demand for those uniquely human skills is only gonna go up. Exactly. And the report actually predicts some pretty impressive growth in the global corporate training market in the next few years. Like, by 2030, they think it's gonna be worth over $550 billion. Wow, that's huge. So after years of, like, you know, decline, the training market's about to make a comeback. Yeah, it looks that way. And this comeback, it's really being driven by those durable human skills. Companies are starting to realize that, you know, they can't just rely on AI. They need to invest in their people, too, if they wanna stay competitive. See, it's not just about, like, learning how to use the latest AI tools, right? It's about developing those uniquely human qualities that AI can't replicate. Right, it's about becoming, well, more human, not less. I love that. So it's about, you know, recognizing those things that make us special, our creativity, our empathy, our ability to connect with each other. Exactly, AI can't do that. So this isn't just about, you know, job training. It's about, like, personal growth, too. It's about, like, valuing those skills, those human skills in the workplace, which I guess brings us to, like, another piece of the puzzle, credentialing. Like, how do we actually measure and verify those skills? That's a great point. And as companies, you know, they're starting to move towards this more skills-based approach to hiring, they need a way to, well, to make sure that those skills are legit. Right, because traditional degrees and certifications, they don't always tell the whole story. Like, they might not show all the skills someone has, especially those, you know, soft skills that we were talking about earlier. Yeah, exactly, like, how do you measure empathy or, you know, leadership? And that's where this idea of credentialing comes in. It's about, you know, finding new ways to assess and verify those durable human skills, those hands, head, and heart skills. So it's not just about what you know, it's about how you can prove it, right? Exactly, and with the rise of skills wallets, well, we're seeing a whole new ecosystem popping up for credentialing those human skills to be, well, pretty interesting to see how it all plays out. Okay, so we've got, like, these durable human skills that are driving this resurgence in training. We've got, you know, AI being used to assess and credential those skills, and we've got skills wallets to, you know, showcase those skills to the world. So what does all this mean for the future of work? Like, how is all this gonna change, well, how we work? That's the big question, right? And the report, it suggests that this whole shift towards, like, a skills-based economy, it's gonna change, well, pretty much everything. For one thing, it's gonna, like, break down those old job titles and hierarchies. Like, instead of hiring for a specific role, companies are gonna be looking for people with specific skills, regardless of their background or their degree. So it's less about, like, your job title and more about what you can actually do. Right, and this could create so many more opportunities for people to, like, move between roles, even between industries, you know, based on their skills and what they're interested in. I like that. It's a much more, like, dynamic way to think about your career, you know? Not just climbing a ladder, but more like exploring a jungle gym. Exactly, and it gives people more control over their own careers. You're not limited by your job title or your degree anymore. You can, you know, constantly learn new things, keep your skills up to date. That's awesome, and it could lead to, like, a more diverse and inclusive workforce, too, right, when you're hiring based on skills, not just, you know, where someone went to school or what their last job was. It opens up opportunities for everyone. It's not a perfect solution, of course, but it's definitely a step in the right direction. It is, right. It's, like, super exciting, but also kind of, I don't know, makes you think about a lot of big questions, too. Like, what happens when AI can do, like, everything we need? Yeah, like, if it handles all the, you know, the basic stuff. What's left for us to do? What does that mean for work? For, like, human purpose, even. Right, it's like, what will we even do with ourselves? It's kind of scary, but also, like, really exciting at the same time. What do you think? I mean, where do we go from here? Well, the report, you know, it doesn't have all the answers, of course, but it definitely paints this picture of, like, a future where work is, well, totally different from what we know today. Okay, so, like, no more nine-to-five jobs, no more commuting. What will we be doing all day? Well, for one, I think we'll have a lot more, you know, free time, which could be amazing, right? More time for, like, family, hobbies, you know, creative pursuits, all that stuff. Yeah, that sounds pretty ideal, but, I mean, I don't know. I think a lot of people, they kind of define themselves by their work, you know? Like, it's part of their identity. What happens when that's gone? That's a really good point, and it's something we're gonna have to, like, really grapple with as a society. Like, how do we find meaning and purpose when work, you know, as we know it, might not exist anymore? Right, like, what will we do with all that extra time? Will we use it to, like, you know, learn new things, explore creativity, or will we just, like, sit around and watch TV all day? I think it's gonna be different for everyone. Some people will, you know, embrace those new opportunities, really make the most of that free time. Others, maybe not so much. It's gonna be a big adjustment, that's for sure. It is, but I think, like, one of the most important takeaways from this whole report, from our deep dive here, is that, like, we have a choice. We can choose how we wanna respond to these changes, you know? Exactly. We can, like, passively let AI shape our lives, or we can actively shape AI, you know? Make sure it's used for good, make sure it benefits everyone. Right, like, this whole conversation about durable human skills, it's not just about, you know, staying employed in the future. It's about becoming better humans, more empathetic, more creative, more adaptable. Absolutely. It's about, like, figuring out what makes us uniquely human, and then, you know, doubling down on that. Those are the things that AI can't replicate, our creativity, our compassion, our ability to connect with each other on a deeper level. Beautifully said. Those are the things that will, like, always matter, no matter how advanced AI gets. Yeah. So, I think that's a good place to leave it for today. We've covered a lot of ground, explored some really big ideas, hopefully, you know, given everyone some food for thought. What do you think? Yeah, I think it's been a really, you know, thought-provoking conversation, and I hope it inspires people to, like, you know, keep learning, keep growing, and really embrace the possibilities of this new AI-powered world. Absolutely, and remember, you know, the future's not set in stone. We all have a role to play in shaping it, so go out there, you know, learn new things, build your skills, and let's create a future that's, well, truly human. Couldn't have said it better myself. Thanks for joining us on this deep dive, everyone. Until next time.