Local business leaders believe AI will boost productivity, not headcount
Singapore – 31 May 2023 – Microsoft has released its third annual Work Trend Index report, “Will AI Fix Work?” From an external survey of 31,000 people in 31 countries, including Singapore, the Labor Trends Index 2023 outlines three regionally relevant trends and trillions of signals from Microsoft 365 and labor trends from LinkedIn. increase.
The advent of AI has changed the way we work, opening up new opportunities for growth, as companies see value in adopting technology to improve business outcomes.
According to the study, the data revealed that people reported inefficient meetings as the number one productivity killer, among other challenges. As we shape the future of work, AI-driven tools like Microsoft Teams, Microsoft Viva, and the all-new Microsoft 365 Copilot will play an increasingly important role in boosting productivity and unleashing creativity at scale. increase.
Shyamol Bansal, Modern Work Business Lead, Microsoft Singapore “Technology has become integral to the way we work and collaborate. As the AI reinvention works, embracing this technology as a co-pilot will help build a resilient and digitally inclusive Singapore.” Employing AI as a co-pilot is inherently built into the way we work, empowering employees to acquire new core competencies and help them do more with less. We need to make sure we have the tools and skills to get it done.”
This report shares three key insights for business leaders looking to understand and responsibly deploy AI in their organizations at scale:
- Digital debt is sacrificing innovation. We all have digital debt. The amount of data, emails and chats has exceeded our ability to handle it all. 69% (72% in APAC) of employees in Singapore say they do not have enough time and energy to get the job done, and 82% (74% in APAC) say they are able to I agree that I can’t maintain sufficient concentration. Lack of productivity can stifle innovation because every minute spent managing this digital debt is not spent on creative work or strategic priorities. 70% of Singapore leaders (65% in APAC) say they are concerned about a lack of innovation.
- A new AI-employee alliance is born. Despite fears of job losses due to the increasing adoption of AI in various fields, leaders are eager to leverage AI to enhance their employees, rather than replace them. More than half of Singapore employees (67%) are concerned that AI will replace their jobs, while even more (81%) say they want to reduce their workload. We want to delegate as much work to AI as possible (58% and 78% respectively in APAC). In Singapore, three out of four people are reluctant to use AI not only for administrative tasks (85%), but also for analytical tasks (87%) and even the creative aspects of their role (81%). (83%, 85% and 81% in APAC). Meanwhile, a business leader in Singapore is 1.5 times more likely to say that AI will bring value to the workplace by increasing productivity rather than cutting jobs. This is lower than the global average (2x) and the regional average (1.8x).
- All employees need AI aptitude. All employees, not just AI professionals, will need new core competencies in AI to succeed in the new dimension of work. His 88% of Singapore leaders (85% in APAC) expect their workforce to need new skills in the AI era. Technology continues to evolve, but 76% of his Singapore employees (71% in APAC) say they do not currently have the right competencies to get the job done. As the paradigm shift to integrate AI as a co-pilot into the workplace progresses, we will see ripple effects across the labor market through expanded opportunities and increased productivity.
Singapore – Explores the fastest growing AI talent market in Asia Pacific
In the ever-changing world of work, some of today’s most significant changes and opportunities are driven by AI. With more than 930 million members worldwide, including his more than 3 million members in Singapore, according to LinkedIn data, AI has surged in the labor market in recent years. has achieved significant growth.
According to LinkedIn data, Singapore will see a staggering 565% growth in AI talent share between 2016 and 2022, followed by Australia (527%), India (487%) and Japan (334%). country. The growth of AI talent employment in Singapore will also outpace overall employment growth by 14% in 2022. Data shows Singapore to be a leading hub for AI talent and innovation in the Asia-Pacific region.
The fastest growing AI jobs in Singapore are Algorithm Engineer, Data Analyst, Data Science Specialist and Machine Learning Engineer. In Singapore, more professionals are also equipping themselves with AI skills to keep up with the pace of change in the work and skills landscape. The 5 fastest growing AI skills in Singapore in 2022 (based on y-o-y growth of skills added to member profiles) are all generative, including natural language processing (+52% y-o-y) and computer It is a skill that suggests the emergence of AI. Vision (+47% YoY).
“AI has ushered in a new era in the world of work. In Singapore, we are excited about its potential with AI talent and rapidly increasing employment. It is imperative that homes build AI skills wallets to boost work productivity and creativity, and businesses adopt AI capabilities to achieve better business outcomes. As a co-pilot at , you will have the opportunity to enable and empower the paradigm shift to AI.We will continue to put generative AI in the hands of our members and business partners, making it easier and more economical for everyone. We will make sure that we can connect to opportunities.” Frank Koo, Head of LinkedIn Asia, Talent and Learning Solutions, said:.
GLP enables the future of work with Microsoft Teams
Headquartered in Singapore, GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies, and is the first company in the Asia Pacific region to employ Teams Premium. Introduced AI to employees. GLP plans to deploy the latest work solutions in 72 offices in over 17 countries.
The company sees great benefits in reducing language barriers in meetings with teams from China to Japan to Europe, with features such as live translation during meetings. GLP also leverages features such as intelligent summaries that automatically generate meeting summaries on Microsoft Teams, selecting key discussion points and action items from meetings to make business decisions. It saves employees time when they need to.
“Given that we have invested heavily in many of GLP’s businesses, investing in AI and technology and being the first Teams Premium adopter in the Asia-Pacific region will bring AI closer to our employees, where and where.” It was a natural evolution for us as we were looking at how we could improve. They are working.” Miao Song, GLP Chief Information Officer. “Our collaboration with Microsoft goes beyond just technology and we are excited about what lies ahead as we expand the future possibilities of his work at GLP for our employees around the world.”
AI is playing a key role in revolutionizing the work of the future, exponentially improving productivity and inspiring creativity.
To provide businesses with tools to help employees make the most of their time, Microsoft is also introducing the Microsoft 365 Copilot Early Access Program. Additionally, the following new features will be added to Microsoft 365 Copilot and Microsoft Viva:
- Copilot for Outlookprovides coaching tips and suggestions on clarity, emotion, and tone to help users write more effective emails and communicate more confidently.
- Viva Learning Copilot uses a natural language chat interface to help users create personalized learning journeys, including designing upskilling paths, discovering relevant learning resources, and scheduling assigned training times.
- whiteboard copilotMake Microsoft Teams meetings and brainstorms more creative and effective. Using natural language, you can ask Copilot to generate ideas, organize them into themes, create designs that bring your ideas to life, and summarize whiteboard content.
- Copilot for OneNote Use prompts to create plans, generate ideas, create lists, and organize information so your customers can easily find what they need.
- by integrating Embed DALL-E, OpenAI’s image generator, into PowerPoint’s Copilot, Users will be able to ask Copilot to create custom images to support their content.
For more information, visit the official Microsoft blog, the Microsoft 365 blog, and the new Work Trend Index.
To follow our journey in Singapore building a resilient and digitally inclusive Singapore, visit the Microsoft Singapore News Center.
