2023-09-06 15:00:00
The potential of AI technology, and generative AI in particular, to negate the need for human workers has been widely feared and discussed. So far, this seismic shift has yet to materialize, and the world of work is still very much the preserve of human employees. However, a period of adaptation will be required without question.
New data from IBM finds that 40% of workers will have to re-skill over the coming three years, not to compete with AI but with human competitors. Far from delegitimizing the place of human workers in the future business environment, the study suggests that re-skilling will be required to leverage the tremendous opportunities for growth and innovation that AI technologies bring.
Comprehensive Data
For the study, Augmented Work for an Automated, AI-driven WorldIBM pulled data from several recent studies. The first included responses from 3,000 C-suite executives across 20 industries and 28 countries. While the second surveyed 21,000 workers across 22 countries.
The supporting data for this latest look at AI’s impact on the workforce’s future was extensive. While the study contains many data points of interest, the overwhelming takeaway is this: AI is expediting the emergence of an augmented workforce.
What does this mean in practice? Shortly, in a matter of years, not decades, a human-machine partnership will drive business value exponentially. And, while many workers will need to re-skill to support this evolution in business practice, there is no sign that AI will replace human intelligence.
The Re-Skilling Imperative
The three biggest takeaways with respect to people and technology are :
- AI and automation technologies have reached an “inflection” point, and re-skilling is now imperative
- To compete, businesses must work on strategic restructuring and evolving their operating models
- Employees want to carry out meaningful work more than they crave other perks, such as flexible work schedules and autonomy.
IBM cites data from The World Economic Forum (WEF) that forecasts AI and automation will disrupt 85 million jobs globally between 2020 and 2025 while, at the same time, creating 97 million new job roles. This aligns with IBM’s research that found that 40% of workers will need to re-skill in the next three years to keep up with AI implementation.
Regarding generative AI, the data revealed that 87% of executives anticipate job roles to be augmented, rather than replaced, by the technology. Interestingly, the data suggested that STEM skills plummeted from the number one skills requirement in 2016 to the bottom of the list in 2023. Instead, people skills, particularly time management and the ability to prioritize, have moved to the top spot.
The study also found that companies embracing change were inching ahead with a competitive advantage. Organizations actively redesigning their operating model have outperformed their peers who don’t prioritize this shift in profitability, revenue growth, innovation, and employee retention 44% more frequently.
Action Items
Along with the research data, IBM sets out a series of action items that companies can follow to align tech investments with people-centric business strategy. They include:
- Prioritize with purpose
- Lead with the operating model
- Make work more rewarding
- Invest in talent as much as technology.
Collectively, these steps represent a scenario where a company embraces the capacity of AI and automation to improve growth opportunities. However, it does so by augmenting people with process, not excluding or ignoring the value of the human workforce. It leverages the transformational capabilities of AI and automation on two fronts: to expedite growth and innovation and to enable employees to focus on the meaningful tasks that encourage them to remain and flourish in your organization.
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