JP Morgan and A.I : Lawyers At The Cross Road?

For the aspiring and those entrenched in the legal profession, JP Morgan bank is moving in the direction of the Artificial Intelligence platform.

Below are my general thoughts on careers and the different “highly skilled” professions:

1) In the evolving phase of fast paced new knowledge, there will be opportunities; there will be losses.

One needs not mention the emerging list of winners and losers.

2) There will be unprecedented profit for some and bankruptcy for others. That’s the 21st century.

3) As an aside, young parents have to look again at the career plans/choice for their kids in this light. Expectations based on old fashioned assumptions may fail in 10+ years.

4) Professionals and CEOs must be more circumspect. What has worked till now may NOT continue to be. Yet your stakeholders wont want excuses!

5) Finally, nearly all industries will eventually meet their points of inflection. Changes in technology AND changes in social behavioral patterns would be the driving force

Your Employees, Your Business and You!

Jobs should not be personalized around a team member. That is a recipe for failure in performance. The duty or job description should come first and the right staff should be matched accordingly.

For a young small-business you can employ a basic entry-level staff that you can train, to imbibe your organizational culture.

If it is feasible in your industry – delay employing overqualified personnel since they are already used you to a different work culture, possibly coming from a bigger establishment than yours. And they are equally set in their ways.
Bring such caliber of staff in, only when very necessary. (You will know as your industry and your goals would dictate)

Do not be in a hurry to hire but don’t waste time either to let a disgruntled or uncooperative staff go — after due diligence. (Many years back, a new venture of mine collapsed before my eyes because of sentiments I had for my two old staff who should have been asked to go) If you have to fire: follow your labour laws and prior agreement.

If your business gets sick and dies, nearly all the employees fraternizing and praising you as a nice boss would leave.
It happened to me more than once.

You will feel betrayed, lonely and suddenly naked!

Even if the business is doing well, any of your staff could still leave based on their own best of judgement. It is simply about self-preservation at play – a free world.
(The two above left on their own accord when they realized the ship had capsized.I Couldn’t stop them…)

So don’t get too sentimental, take care of your business too.
Of course being courteous to your staff is a humane thing to do. It is also expected that such gesture would translate to a high morale, with positive results for the business and good customer experience.

It is a delicate balancing act, managing human resources in any enterprise. There are theories and tools for guidance but there is also a place for a matured and emotionally balanced leadership.

It is not easy. It comes with well-honed social experience, critical observation and intuition.

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