In a rapidly changing technological landscape, businesses and employees alike are grappling with an existential question:
How will the rise of AI shape the future of work?
Recent studies from IBM and ZDNet shed light on this pressing issue, offering insights and guidance for both executives and workers on how to navigate this new frontier.
Reskilling: A Necessity, Not a Choice
According to an article from ZDNet, which draws on data from a recent IBM study, 40% of the global workforce will need to reskill in the next three years due to the emergence of AI.
That’s approximately 1.4 billion of the 3.4 billion global workforce, as per World Bank statistics.
While generative AI models like ChatGPT have opened up new realms of possibility in the tech space, they’ve also underscored the importance of human adaptability. As IBM poignantly stated, “AI won’t replace people – but people who use AI will replace people who don’t.”
A Shift in Skill Priorities
Previously, a strong foundation in STEM was the gold standard.
But, by 2023, tools like ChatGPT have made such knowledge less of a priority. Skills such as team management, effective communication, adaptability, and team collaboration are now the most sought-after in the workforce.
IBM’s study indicates that AI’s influence will vary across job levels.
Entry-level employees are predicted to experience the most substantial shift, with 77% of executives believing that these positions are already feeling the impact of AI.
Interestingly, rather than outright replacement, 87% of executives anticipate that generative AI will augment roles. This augmentation differs across sectors, with high percentages in procurement, risk, compliance, and finance, to name a few.
While employees value meaningful, impactful work above all else (beyond compensation and job security), executives appear to have misunderstood this preference, prioritising flexible work arrangements instead.
In an AI-driven future, businesses that want to retain top talent will need to reassess and realign with employee values and desires.
Role of HR Leaders
IBM emphasises that the onus is on HR leaders to spearhead the transition. They recommend several strategies, including:
Redesigning Work Processes: Rather than merely automating existing processes, it’s crucial to revisit and reimagine how work is done, leveraging AI where it adds the most value.
Investing in Talent: Prepare the workforce for AI disruption by focusing on skill development, role expansion, and understanding new AI tools.
Prioritising Skills: Enhance the workforce’s overall technical knowledge. Even if not everyone needs to code, a foundational understanding of AI is essential.
Empowering Employees: Engage employees in the AI transition, giving them a platform to recommend automations and provide feedback. This engagement will not only streamline processes but also foster a growth mindset throughout the organisation.
Dive Deeper Into The AI Rabbithole
We stand at a significant inflection point.
As AI continues to reshape the landscape of work, businesses and employees must evolve in tandem. By embracing change, prioritising reskilling, and fostering a culture of adaptability, we can ensure a future where AI and humans work in harmonious synergy.
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