Source: Shenlan Finance

The General Office of the State Council has recently issued the Opinions on Adapting to the Development of Artificial Intelligence Technology to Foster an Employment-Inclusive Growth Model (hereinafter referred to as the Opinions), outlining strategies for related initiatives.

The Opinions underscore the importance of adhering to a people-centric development approach, harmonizing investments in physical and human capital, balancing growth with security, and giving precedence to employment. By harnessing AI to drive high-quality development, the aim is to foster ample, high-quality employment opportunities, construct an employment-inclusive growth model, amplify AI's positive role in job creation, empower traditional job roles, enhance employment quality, and invigorate entrepreneurial spirit. This is to effectively counterbalance the employment substitution effects of AI applications and strive for inclusive development that harmonizes technological advancement, industrial upgrading, employment promotion, and livelihood enhancement.

The Opinions delineate 18 pivotal tasks across six domains:

Firstly, amplify the job-creating potential of AI. Explore new employment avenues in emerging AI sectors, nurture new growth drivers for SMEs to stabilize and expand job opportunities, pioneer new employment and entrepreneurship models in the AI realm, and expedite the emergence of novel AI-related occupations.

Secondly, chart an employment-friendly AI advancement trajectory. Unlock AI's employment potential in traditional industries, alleviate the employment substitution effects of AI applications, and institute a risk assessment framework for AI's employment impacts.

Thirdly, bolster workers' digital literacy and employability. Jointly cultivate innovative AI talent and roll out specialized AI training initiatives.

Fourthly, advance AI-driven high-quality employment policy services. Leverage AI to streamline employment policy implementation, elevate the intelligence quotient of employment services, and bolster support for employment transitions and reemployment.

Fifthly, refine systems for safeguarding workers' rights and social security. Optimize mechanisms for protecting workers' rights in human-machine collaboration, enhance social security frameworks for flexible and novel employment forms, and fine-tune income distribution mechanisms in line with AI technological progress.

Sixthly, enhance the employment monitoring, early warning, and risk response framework for AI applications (Improve systems for monitoring, early warning, and risk response to AI's employment impacts). Strengthen oversight and early warning of employment risks linked to AI applications, deepen research on AI's employment repercussions, and refine risk response strategies for AI's employment impacts.

The Opinions mandate that Party leadership be upheld throughout the process of adapting to AI technological evolution and fostering employment and entrepreneurship. All regions and pertinent departments should tailor the implementation of these Opinions to their specific contexts, further cement the employment-first policy stance, comprehensively assess the employment ramifications of AI applications, and expedite the establishment of an employment-inclusive growth model. Human resources, social security, and development and reform departments at all tiers should enhance coordination to ensure the effective execution of various policy measures, amplify publicity and guidance efforts, and cultivate a conducive social milieu for promoting employment and entrepreneurship.

*Disclaimer: The views expressed in this article are solely those of the author. The financial market entails risks, and investments should be approached with caution. Under no circumstances should the information or opinions presented in this article be construed as investment advice to any individual.

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