A profound transformation is on the horizon for the global workforce as artificial intelligence (AI) and automation revolutionize industries. A recent study by IBM Research indicates that approximately 1.4 billion workers, accounting for 40% of the global labor force, will need to undergo reskilling within the next three years due to the growing influence of AI and automation.
The AI Impact: A Call for Reskilling
IBM’s study underscores the imperative need for reskilling and upskilling to equip workers with the necessary skills to navigate the evolving job landscape. As AI continues to advance, its impact is anticipated to permeate across all levels of employment, including managerial and executive positions. No segment of the workforce will remain untouched, prompting a reevaluation of job roles, skillsets, and work methodologies.
Executives’ Perspective on AI Augmentation
Surprisingly, IBM’s research reveals a notably positive outlook among corporate executives regarding AI’s role in the workforce. An impressive 87% of executives believe that generative AI will augment job roles rather than replace them. This sentiment is particularly pronounced in sectors like marketing, customer service, procurement, risk and compliance, and finance, where the majority of executives express confidence in AI’s potential to enhance job positions.
Wide-ranging Impact and Evolution of Skills
The study highlights that entry-level positions are currently experiencing the most significant effects of AI integration, with more than three-quarters of executives acknowledging this phenomenon. However, executives are less inclined to perceive AI’s impact on executive or senior management roles, with only 22% recognizing its influence in those positions.
The World Economic Forum (WEF) echoes the transformational impact of AI and automation on the workforce. The WEF anticipates the displacement of 85 million jobs worldwide between 2020 and 2025, accompanied by the creation of 97 million new employment opportunities. Additionally, the WEF forecasts a disruption in the skills of 44% of the workforce by 2028, highlighting the urgency for reskilling initiatives.
Key Strategies for Future Workforce
As industries prepare for the impending AI-driven shift, experts emphasize several key strategies to ensure a competitive and agile workforce:
- Restructuring Processes and Roles: Organizations are advised to revamp traditional processes, job roles, and organizational frameworks to enhance productivity and accommodate new business models.
- Human-Machine Collaboration: The future workforce will thrive on the collaboration between humans and machines, creating value and enhancing employee engagement.
- Investment in Technology: Allocating resources to technology that enables employees to focus on high-value tasks and revenue-generating activities is crucial for sustained growth.
In a rapidly evolving technological landscape, the need for continuous learning and adaptability is paramount. Reskilling and upskilling initiatives are instrumental in preparing the global workforce for the AI-driven era and ensuring that individuals remain competitive and relevant in the changing job landscape.
