AI will enable, not replace, jobs: Experts

This article is more than 12 months old

Singapore is in a position to benefit from the rise of artificial intelligence, according to four Nobel Prize winners on Wednesday.

The four Nobel laureates in economic sciences - Dr Michael Spence, Dr Robert Merton, Dr Roger Myerson and Dr Peter A. Diamond - were at the Capitol Theatre on the first stop of a UBS conference attended by more than 1,000 university students and streamed live globally.

Dr Spence said artificial intelligence (AI) should be seen as an enabler, instead of a replacement for humans.

"When we did empirical work before, we used to spend hours and hours just digging up data.

Now we spend much less time digging up data and more time understanding it," he added.

UBS Wealth Management's vice-chairman Tracey Woon said: "Singapore is in a sweet spot to ride the AI wave.

AI will most likely affect medium-skilled jobs that involve predictable and routine tasks.- THE STRAITS TIMES