2025-2026 EDITION
WORK STARTS WITH A
BY MICHELLE CHUN
38
THE POWER OF HUMAN CAPITAL IN THE FACE OF AGEING, AUTOMATION AND AI
FEATURES
In the fastest-ageing region in the world, ASEAN nations are walking a balance beam. Labour markets are transforming worldwide, as demographic changes and technological progress impact the way people work.
For a start, fewer births and increasing life expectancy have led to shifts in workforce composition and productivity, explains Dr Eunbi Song, a senior lecturer with the Monash School of Business.
“ Singapore and Thailand are rapidly transitioning into superaged societies, while Malaysia officially became an ageing society in 2020.”
DR EUNBI SONG
With ageing societies comes a shrinking workforce, but decreased productivity is not always the inevitable outcome. Cue the disruptors of automation and AI, along with their mixed bag of opportunities and risks.
“ Technological progress is undoubtedly reshaping the way people work,” says Dr Song, whose recent research delved into the intersection between demographics, technology and economics in Asia.
The rise of automation, AI and digital technologies bring opportunities in new jobs and productivity gains, but also potential displacement of low- to medium-skilled workers in routine-based roles.
It is reported that about 56 % of jobs in major ASEAN countries— particularly in hotels and restaurants, wholesale and retail trade, construction, and manufacturing— are at high risk of automation-driven displacement( ILO, 2016).