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Human capital engine of economic growth

Human capital engine of economic growth

Interview with Mr. Zaheer Ahmed — an Aircraft Engineer

PAGE: Tell me something about yourself, please:

Zaheer Ahmed: I got my early education in my home country, Pakistan, and passed my Electronics Engineering degree in the year 2000. I worked for Pakistan International Airlines (PIA) for 11 years and left the company for better prospects in 2010. Ever since I have been living in the UAE and working for Emirates Airline for the last 15 years as Aircraft Engineer.

PAGE: How would you comment on the contribution of the Pakistanis in the economy of the UAE?

Zaheer Ahmed: The contribution of the Pakistanis to the economy of the United Arab Emirates (UAE) is profound, multidimensional, and foundational to the country’s growth over the past five decades. As the second-largest foreign community in the UAE, around 1.7 to 1.8 million, they are part and parcel to the UAE’s development across blue-collar industries, white-collar professions (doctors, engineers, entrepreneurs, accountants etc.), businesses and the real estate sector across UAE. They remain the pivotal contributors in development of UAE and with 1.6 million Pakistanis living with peace and respect as second largest foreigner community in UAE, involved in the country’s business, investment and services sectors, beside their contributions to Pakistan’s economy as the UAE is considered the second largest source of remittances to Pakistan for last many years consistently according to the financial sources. These contributions helped in evolving the close friendship between United Arab Emirates and Islamic Republic of Pakistan, consequently the UAE once became the largest foreign direct investment country with its huge investments in the fields of oil refinery, telecommunication, banking, aviation and property development.

PAGE: What is your perspective about the value of human capital in the world?

Zaheer Ahmed: It’s increasingly recognized as the most significant, sustainable asset in the modern global economy. While physical assets like machinery can be replicated, the innovative, creative, and problem-solving abilities of a motivated workforce are unique and represent a competitive advantage. In a rapidly changing world by AI and technology advancement, human capital acts as the major driver of innovation, adaptability, and robust economic growth.

Human capital is considered the engine of economic development, driving productivity and innovation, particularly in modern, knowledge-driven economies.

Human capital accounts for approximately 64% of global wealth, far outweighing natural capital or produced capital. There is a strong, direct relationship between a country’s investment in its workforce (education and health) and the strength of its GDP. A well-trained, skilled, and healthy workforce is more efficient, achieving faster results with fewer errors. Living in the era of rapid change, human capital remains pivotal and is the source of innovation. A workforce with high human capital can adapt to new technologies, such as AI and automation, rather than being replaced by them which is not 100% prudent so far. Organizations which invest and with strong human capital tend to withstand economic crises better because their people can adapt to new challenges.

Formal education and continuous professional development directly increase the economic value of an individual. Physical and mental health are important components of human capital. A healthy workforce is more efficient, while poor health and fatigue can lead to errors and perform less efficient. Soft Skills such as Communication, leadership, and emotional intelligence are recognized as important pillars that enhance overall productivity. The perspective on human capital is shifting from seeing labor as an “expense” to treating it as an “investment” that appreciates over time. Educated individuals often migrate from lower-income to higher-income countries; contribute to nation’s development and in the global competition.

PAGE: Which professions might have more value in the AI-driven world?

Zaheer Ahmed: All Professions if blended with AI, human cognition, empathy, and creativity are expected to flourish in days to come. No profession is less important regardless of its age. Whether it’s doctor, engineer, teacher or banker; everyone need to adapt of modern world needs which are really challenging to cope with as they’re rapidly developing new models and updating. While AI expert is new field where Youngster could also join and take the challenge where plenty of scope is available.

Some of these disciplines are: 

AI & Machine Learning Engineers: Develop algorithms, train models, and create AI-driven applications.

Prompt Engineers: Specialise in crafting precise queries for Large Language Models (LLMs) to ensure accurate, high-quality outputs.

Data Scientists & Analysts: Interpret and analyze large datasets to make strategic, data-driven business decisions.

AI Ethics & Governance Specialists: Mitigate bias, ensure compliance with privacy regulations, and audit AI systems for safety and fairness.

Cloud Computing Specialists: Manage the infrastructure (AWS, Azure, Google Cloud) required for AI deployment.

PAGE: What is your standpoint about the worth of the traditional professions in the days to come?

Zaheer Ahmed: The traditional profession like teaching, medicine, law, craftsmanship, farming, and civil service will likely remain significant in the coming decades, but their form, skills, and economic value will evolve because of technology, automation, and social change. Even with AI tools assisting them, people will still prefer human accountability and empathy in critical decisions involving health, justice, and education. For instance, in medicine, AI may help analyze scans, but a doctor’s responsibility and ethical judgment remain essential. The computer can fly the aircraft, however, the pilot’s role will remain crucial for critical phase and in emergency. The AI can write the programming code however, unable to meet the user need 100%. For that, programmers will still be required but the programmer would be itself skillful to use the AI to get things faster and flawless for better results.

Regardless of profession, every professional must be aligned and acquainted with the modern world’s tools like IT, automation, machine learning, AI, Data Analytics etc. and must be adapted in the respective fields to thrive.

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