As technology advances, the need for jobs that require human-to-human interaction has become more and more pronounced. A recent MLIV Pulse survey showed that the majority of investors believe that kids in kindergarten today will be better off pursuing a career in the healthcare field than finance or tech. ChatGPT Threat is a perfect example of how technology and Generative AI programs are quickly advancing, bringing the human factor in many jobs at risk of displacement.
Generally speaking, certain demographic trends support the idea of favouring a medical career path. In the US and worldwide, there’s a noticeable ageing population; As a result, an immense demand for highly-skilled healthcare workers arises. Meanwhile, high-school graduated are encouraged to pursue a career in tech, although recently there were massive layoffs in Meta Platforms Inc., Amazon.com Inc. and Alphabet Inc. Despite that, tech may still be one of the most profitable fields for the upcoming decades, since the world is increasingly transforming through digital platforms.
The Pulse survey also indicated that 52% of professional investors and 48% of retail investors chose tech as the best career option for high schoolers. It is true that the latest economic downturn has deeply affected Big Tech; However, recruiters in different industries, such as automakers and the federal government, have looked for the opportunity to hire the tech talent or recent grads that were laid off. After all, every company is a tech company.
On the other hand, only 12% of the surveyed investors said that finance would be a better option for today’s kindergarteners. There have also been layoffs at financial corporations such as UBS Group AG, Credit Suisse Group AG, Citigroup Inc., Morgan Stanley and Goldman Sachs. Therefore, some withdrawal of confidence towards a financial career may have been justified by the respondents.
The survey concluded that most of the investors agree that an undergraduate degree is still a good investment. Even though it implies a considerable use of time and money, the skills acquired by attending college still give many advantages for users. Also, an alternative to college that is gaining traction consists of opting into trade schools to become a carpenter, electrician or plumber, jobs that are unlikely to be outsourced or automated.
This article made reference to The MLIV Pulse, a survey conducted by MLIV with 678 respondents. MLIV is a machine learning platform that provides data-driven insights into the finance and technology markets. It uses sophisticated algorithms, such as machine learning and natural language processing, to process data faster, simpler and more accurately than traditional methods. MLIV’s mission is to empower users with real-time data and analysis so they can make informed decisions on what investments to pursue.
Andrew Challenger is a Senior Vice President of Human-Resources Consulting at Challenger, Gray & Christmas Inc. Having spent more than two decades in the tech and finance sector, Andrew is an expert in foreseeing and forecasting future trends in these markets. He has been quoted in the Wall Street Journal, Forbes, CFO Magazine and many more. Additionally, he is a member of the National Association for Business Economics and the US Chamber of Commerce.
