Save Your Job by Protecting Your Neighbor's Job: The Ripple Effects of AI Displacement

At the Value Creation Innovation Institute (VCII), as with all professional bodies operating within Private Equity, Venture Capital, or Corporate Finance fields, we are committed to driving value creation and operational efficiencies, including the integration of disruptive AI. We recognize the powerful and even irreplacceable role AI plays in enhancing the glorified EBITDA and improving business outcomes. However, this relentless pursuit of efficiency does not mean that we initiated this technological revolution—AI and technological advancements are inevitable and unstoppable forces. We shall adopt these as long as their is social aceptance and adoption. Our focus is not just savings but rather on harnessing these developments wisely and ethically, ensuring that they serve both economic growth and societal well-being. To that end, we need the help of the average consumer and stakeholder in  any business environment we operate in. Your actions and behaviour will guide ours!

The AI Displacement Wave Has Begun

The impact of AI on the job market is not just a future concern—it's happening right now. AI is simultaneously creating new roles and rendering many others obsolete. The looming question is whether these new jobs will compensate for the losses or if we're heading towards a net reduction in employment opportunities.

The Reality of AI Job Displacement

As AI continues to infiltrate various industries, we must confront our own role in this transformation. Every time we opt for self-checkouts, ATMs, robo-taxis, or automated customer service, we contribute to the displacement of human workers. While these choices offer convenience, they also support a system that prioritizes efficiency over employment.

The Global Village vs. The Old Village

In a traditional village, the loss of one job affects the entire community. In today’s global village, however, the impacts of job loss are more dispersed and less immediate, making it easy to overlook the broader social consequences. The displaced worker in one city or country is often expected to reskill and move on, but this overlooks the broader, often devastating, social impact.

The Role of Social Solidarity

In our interconnected world, protecting our neighbors' jobs means protecting our own. We must foster a collective responsibility to ensure that the adoption of AI is tempered with human wisdom and empathy. This is not about rejecting technological progress but about ensuring it benefits society as a whole.

What We Can Do: Making Conscious Choices

Before fully embracing AI, we need to reflect on the societal implications of our choices. Consider the long-term effects of every AI-powered service we use. Rather than merely complaining about AI-induced job losses, we should advocate for policies that promote social solidarity and equitable growth. This includes supporting initiatives that focus on reskilling displaced workers and creating new opportunities.

The Inevitable March of AI: Our Role in Shaping Its Impact on Jobs

Technology and AI will continue to advance, but the real question is how we respond. The only genuine barrier to AI-driven job displacement is human wisdom and empathy.

If you're concerned about AI taking over others' jobs, it's crucial to be genuine to oneself and to reconsider your daily choices. It would be hypocritical to do the following - among many others - and complain about AI stealing others' jobs:

• Jump on the nearest Self-Checkout  at Walmart or Costco: Choosing self-checkout contributes to the displacement of cashiers. By choosing human interaction, you support employment.

• Rely on the ATM for Routine Transactions to avoid personal interaction with a grumpy teller: ATMs have replaced many bank tellers. Visiting a human teller not only keeps their job viable but also offers a personal touch that automated systems lack.

• Perefer the use of a Robo-Taxi to avoid tipping: Robo-taxis might be novel, but they are a step towards eliminating human drivers. Consider the broader implications for the transportation industry before using them.

• Engage with a senseless chat  with an Automated Customer Service Bot: Automated customer service may be efficient and intriguing, but it also reduces the need for human representatives. Whenever possible, opt for speaking with a human to maintain those jobs.

• Like to try  Self-Service Kiosks because they are quiet and do not talk back: Self-service kiosks are convenient - especially when buying hygiene and private stuff, but they eliminate opportunities for human employment. Consider whether the convenience is worth the societal cost.

A Call to Reflect

The future of work is in our hands. By making conscious decisions and fostering a culture of empathy, we can help mitigate the negative impacts of AI on the job market. It's not just about saving your job—it's about saving your neighbor's job too. As it seems, they are closely related more than what you think. 

Join the Discussion

Join us at the Value Creation Innovation Institute (VCII) to explore more about how we can navigate the challenges of AI-driven job displacement and ensure a future where technology and humanity thrive together.