NextGen Day

On Monday, Trade and Industry Secretary Alfredo Pascual urged business leaders to keep retraining and upgrading their personnel in order to prevent job losses as companies adopt technology and embrace automation.

At the Finance Executives Institute of the Philippines’ inaugural conference, which was held at the New World Hotel in Makati City, Pascual advised companies to engage in programs that will help create human capital and capability in order to prepare their workers for occupations of the future.

In order for humans to do newer, higher-order functions that complement the work of computers, he added, “we also want to urge and enable businesses to upskill their workforce.”

He stated that although automation will result in the loss of many jobs, it will also lead to the creation of many new, high-quality employment. But doing so would necessitate increasing investments in skill development.

“To deliver the agility that lifelong learners will need, current learning and job-fit signaling systems are insufficient. As a result, we must switch to a skills-based strategy that can offer a more effective mechanism, according to Pascual.

Shamika Sirimanne, director of the Division on Technology and Logistics at the United Nations Conference on Trade and Development, stated last week that automation, like the use of artificial intelligence, will primarily benefit high-income and some upper-middle-income countries due to the availability of highly skilled labor and the caliber of digital infrastructure.

On the other hand, because of the lack of skilled people and the sluggish internet speed, utilizing technologies will be difficult for low-income and the majority of lower-middle-income countries.

Automation is necessary.

George Barcelon, president of the Philippine Chamber of Commerce and Industry, stated on the sidelines of the event that in some nations, automation may result in a significant loss of jobs in the agricultural industry within the next ten years.

“The productivity was increased by automation. Barcelon told reporters, “We know that we are concerned about the farmers, but they also have to understand that the prices of our commodities are considerably more expensive if they are not productive or efficient.

According to him, the government should pay attention to the school system, which also requires updating and more investment to train Filipinos for future occupations, while the private sector is upskilling and reskilling its employees.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---