I headed up to the Okanagan with my family for the May Long Weekend – tested out my new SUP on Osoyoos Lake, biked with my boys past vineyards along the Kettle Valley Rail Trail, and read a book on the beach. It was good to give my brain a break from the endless stream of AI news. On Monday morning, I came up with a revelation – we need to rethink the economic paradigm for this new age of generative AI. So I created a new Economic Capital Pyramid…
Although generative AI will lead to productivity gains on the corporate level, it is a different story on the individual level as the scary reality is generative AI will lead to obsolescence in human capital in many high-paying professions, including finance. On a personal level, we can use the new Economic Capital Pyramid to gain insights into how to reposition our careers for the new era of generative AI:
Embrace Generative AI Tools: We need to embrace generative AI tools to empower ourselves to become more productive, creative, and improve the quality of our work.
Become More Customer/Client-Facing: It’s ironic as those of us that were privileged to be able to work remotely during the pandemic are now the highest at risk of being replaced by generative AI. To reduce this risk, we need to think about how we can become more customer/client-facing in the physical sense as the one thing ChatGPT can’t do is meet up for a drink!
Note: This is the introduction to the 7-page research note I published on May 24 for my institutional investment and corporate clients. It is a follow-up to my last two research notes, “The Grand Productivity Scroll” and “A Luddite’s Tale”, as I continue to explore how ChatGPT and generative AI is disrupting/transforming the way we work.