As the artificial intelligence (AI) revolution sweeps across the globe, society faces a tidal wave of change that could leave countless lives disrupted. Instead of debating the merits of AI innovation, we need to focus on preparing ourselves for the inevitable transformation it will bring. History demonstrates that technological progress, while creating new industries and opportunities, also causes the decline of others, which leaves many people struggling to adapt.

To prevent a socioeconomic crisis, we must revolutionize our approach to education, certification, and hiring to better prepare people for the rapidly evolving world. But first, let’s learn from history.

THE CAUTIONARY TALE OF THE AUTOMOTIVE INDUSTRY

The automotive revolution of the early 20th century offers a striking example of how technological innovation can create a negative impact on people’s livelihoods. As automobiles began to supplement horses as the primary mode of transportation, those who relied on the equine industry for their livelihood faced severe challenges.

That shift had ripple effects across a number of other industries. Blacksmiths and carriage-makers, for example, struggled to make ends meet in a world where horses were no longer in high demand. Of course, the automotive revolution also created a wealth of new opportunities, particularly for mechanics, assembly line workers, and automotive engineers. But the transition was far from seamless. Many businesses struggled to find skilled mechanics, and the growing number of automobiles on the road outpaced the available workforce, leaving businesses scrambling for technical talent. Sound familiar?

HISTORY TENDS TO REPEAT ITSELF

The automotive revolution was just one instance in a long history of technological disruptions that challenged the livelihoods of thousands while simultaneously creating opportunities for millions more. Another example from the not-so-distant past is the textile industry during the 18th century.

The textile industry underwent a major transformation with the advent of the spinning jenny, power loom, and cotton gin. These innovations automated a number of processes and significantly increased production efficiency, laying the foundation for the Industrial Revolution. However, this period of rapid change also had a profound impact on the lives of skilled artisans and craftsmen. Take, for instance, handloom weavers in England: Once a prominent and respected profession, weavers found themselves facing economic hardship as the power loom rendered their skills increasingly obsolete.

And, as with the automotive revolution, the shift was not without its challenges for companies either. Factory owners often struggled to find workers with the necessary skills to operate and maintain the new machinery. On the other hand, thanks in part to job job re-training efforts, the mechanization of the textile industry did lead to the creation of new positions in factories, such as machine operators, mechanics, and supervisors. Likewise, jobs in transportation and logistics expanded to support the distribution of goods produced by textile mills.

There are countless other similar examples of this double-edged sword.

The rise of Alexander Graham Bell’s telephone in the late 19th century disrupted the telegraph industry. While telegraph operators, who were highly skilled in Morse code, were thus rendered largely obsolete, the telephone industry created new employment opportunities, including switchboard operators, line installers, and telephone repair technicians.

Most recently, the rise of computers and the internet in the late 20th century created turbulence for typewriter manufacturers, film developers, and print journalists, all of whom saw their professions wane as digital technology took over. But the digital revolution also generated an entirely new sector in information technology, leading to job opportunities in fields such as software development, web design, and digital marketing.

IT WILL HAPPEN AGAIN, BUT DIFFERENTLY

As large language models such as OpenAI‘s GPT-3 and GPT-4 and diffusion-based image generation models such as Midjourney are taking over the world, we are witnessing another profound technological revolution that’s bound to repeat this pattern of history. It’s only been a few months since these models have been released, but it’s already becoming clear that they will lead to the displacement and automation of massive job categories, such as graphic designers, copywriters, customer support representatives, live translators, and many others.

At the same time, new roles and industries are emerging in response to the AI revolution. AI ethics, AI prompt-engineering and fine-tuning, and AI-based software development are just a few examples of the new job categories that are beginning to take shape.

However, this time, the transition could be even more rapid and profound, considering the pace at which AI technologies are advancing and being adopted across industries. While most other technological innovations have only displaced a handful of job categories, there are early signs that AI models will likely replace hundreds if not thousands of job categories in a single swoop. This accelerated pace has the potential to displace a more significant number of jobs in a shorter period, posing a greater challenge for both the workforce to adapt and businesses to find the necessary talent.

PREPARING FOR THE FUTURE

Armed with the lessons of the past, we must acknowledge that the AI revolution is not a question of if, but when. As a society, we need to proactively prepare for this transformation to minimize the negative impact on those whose livelihoods will be disrupted. At the same time, business leaders must be ready to embrace the technological revolution that’s rapidly approaching, by proactively discovering and developing the skills that will shape the future.

To achieve this, we must first revolutionize our educational systems, fostering a culture of lifelong learning and adaptability. Traditional, linear models of education and career progression will no longer suffice in a world where the skills required for employment are in constant flux.

As educational institutions are often slow to adapt, business leaders need to prioritize a skills-first approach in interviewing and hiring new talent. Furthermore, businesses should play a central role in driving the evolution of education, upskilling, and lifelong learning. Many C-level executives lack a comprehensive understanding of their workforce’s current skill set and the skills required to navigate the challenges that lie ahead. This has to change, and it has to change fast.

As the AI revolution unfolds, business leaders must take several crucial steps to proactively adapt. It’s important to rally your teams around AI now and start using it to gain efficiency. Befriend the machine and learn how to unlock its fullest potential. Stay at the cutting edge of AI developments by engaging with academic research and analysis from credible sources, rather than relying solely on trends. This approach will help to discern the truth from the noise, allowing for a deeper understanding of AI’s potential impact on your organization.

Assess your team’s current bench of skills and establish retraining programs. Be prepared to quickly introduce new courses and training. This will leverage the existing workforce to ensure that everyone is equipped with the skills required for employment in a rapidly evolving world. Lastly, be open to new ways of leading, managing, and existing in these changing times. By taking these steps, we can help ease the transition for millions of people and ensure a more inclusive, prosperous future for all.

A WAY FORWARD

The AI revolution is here, and history has shown that technological advancements inevitably present challenges and opportunities. But, in the same way that blacksmiths gave way to mechanics and handloom weavers to machine operators, the AI revolution will create jobs such as bias auditor, human-machine team manager, AI risk analyst, and countless new categories we can’t yet imagine. By learning from the past and proactively adapting our educational systems, workforce training, and support structures, we can alleviate the transition for millions of people and pave the way for a more inclusive and empowering future for everyone.