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Canadian Parents Concerned About the Impact of Artificial Intelligence on Future CareersOnly 1 in 4 parents believe that AI will make life better VANCOUVER, Oct. 16, 2018 /CNW/ - Parents in Canada are concerned about the future impact of artificial intelligence (AI) and robots on their children's lives, HSBC's The Value of Education - The Price of Success report reveals. Almost two out of five parents (38 per cent) are worried about the impact it will have on their child's future career. According to HSBC's annual study of more than 10,000 parents and 1,500 students across 15 countries, only slightly more than a quarter (27 per cent) of Canadian parents believe that AI and robots will make their child's life better, compared with 71 per cent of parents in China and 57 per cent in India. While thinking ahead to 2030, HSBC's study also shows that parents are less optimistic than students about the role of education in preparing their children for the future world of work. Parents v. Students "Many Canadian parents encourage their children to attend university, but they are becoming increasingly worried that their children will not have the necessary skills required to succeed as AI becomes more prevalent in the workplace", said Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada. "Some jobs will become obsolete; however, at the same time, AI will create new jobs, and perhaps even new professions." Hard v. Soft Skills Not all skills are equal: "Employers are always looking for the right candidate with the right training and education for the position," added Larry Tomei, Executive Vice President and Head of Retail Banking and Wealth Management, HSBC Bank Canada. "That is why it is now more important than ever for financial institutions to work with parents to create a plan to pay for university so their children will be equipped to compete professionally in 2030 and beyond." Other key findings from this year's study include:
Website - www.hsbc.caNotes to editors: The research The Value of Education is an independent consumer research study into global education trends, commissioned by HSBC. It provides authoritative insights into parents' and students' attitudes and behaviour towards education around the world. The findings are from the fifth survey in the series which represents the views of 10,478 parents and 1,507 students in 15 countries and territories: Australia, Canada, Mainland China, France, Hong Kong, India, Indonesia, Malaysia, Mexico, Singapore, Taiwan, Turkey, United Arab Emirates, United Kingdom and United States. The research is based on a sample of parents with at least one child aged 23 or younger currently (or soon to be) in education, and on a sample of students aged 18 to 34 in university undergraduate and postgraduate education, drawn from nationally representative online panels in each country and territory. HSBC Bank Canada For more information visit www.hsbc.ca or follow us on Twitter: @hsbc_ca or Facebook: @HSBCCanada SOURCE HSBC Bank Canada |