NetworkTigers discusses the importance of reskilling for AI.
The age of AI is here. Is your workforce ready? In 2019, the Organization for Economic Cooperation and Development estimated that within 15 to 20 years, automation is likely to eliminate around 14% of jobs worldwide. New automated technologies are likely to transform around 32% of jobs.
These estimates were made even before the advent of ChatGPT, digital assistants, and many predictive technologies. In 2024, reskilling for AI is more important than ever as businesses experiment with AI on the cusp of a larger paradigm shift.
Upskilling is not enough
The World Economic Forum highlights that only 0.5% of global GDP is currently dedicated to adult lifelong learning. Meanwhile, the 2023 Future of Jobs Report shows that up to 43% of work tasks are expected to be automated by 2027. This imbalance represents a fundamental threat to ongoing gainful employment for many people worldwide. AI cybercrimes present a further risk to economic stability unless reskilling takes place to address the threat fully.
The Reskilling Revolution represents a coalition of 17 countries and 370 organizations, such as IBM, Coursera, Infosys, Salesforce, UNICEF, iamtheCODE, the Adecco Group, PwC, the Lego Foundation, and LinkedIn. This global initiative is committed to providing ongoing training in order to keep human employees relevant in the age of AI, with a focus on geographic justice. However, the World Economic Forum is not the only party to urgently highlight the need for reskilling for AI. Individual companies must take up the mantle to train not only IT members but also entry-level positions, middle management, and executives in order to interact positively with artificial intelligence.
Top skills for the AI revolution
The Harvard Business Review interviewed leaders at 40 programs committed to large-scale reskilling for AI and reported on critical lessons that these managers have learned throughout the process. According to the piece, some of the most critical skills and knowledge required to interact successfully with AI include:
- Digital literacy
- Critical thinking
- Data migration and SAP cloud analytics
- Text-to-speech APIs
- Image generative software like DALL-E
- Soft skills and creativity
- Data management
- Renewable energies
- Operations management
- User experience
- Cybersecurity
- Quality control
- Customer service
- Cultural and social intelligence
One of the most important areas that their research has found is that reskilling must take into account a combination of both employee motivation and institutional support in order to be successful. The most resistant party that they found to reskilling efforts were middle managers, who were found to take part in “talent hoarding”, or preventing the most promising employees from reskilling in order to keep them at the same level of reporting for longer. The study suggests that reskilling efforts begin with an internal “talent audit” in order to ensure that existing abilities and willingness to learn are not overlooked in favor of hiring outsourced talent.
Techniques for AI reskilling
On-the-job learning. Most employees prefer hands-on learning, according to a study 2021 survey. Out of 209,000 participants, 65% of workers said that they would prefer to learn new skills while on the job, as opposed to separate continuing education programs. Vocational residencies are supportive options for staff who are committed to reskilling, as are career coaching opportunities and paid training hours.
Recruit from within. As opposed to spending time and money on outsourcing new talent, you may be surprised to learn who amongst your staff already has the time, talent, and willingness to learn the tools necessary to work with AI successfully. Keeping tabs on an internal talent pool can help your company save money and move more swiftly with changing technologies.
Institutional support. Reskilling is not the same as taking a weekend webinar. It can involve learning new techniques and technologies and investing serious time and attention into courses designed for digital literacy. Companies that are serious about reskilling should consider compensating employees for training hours, covering tuition for additional courses, or providing a lightened workload for those who are committed to reskilling over an extended period of time. A BCG study shows that reskilling currently represents only 1.5% of the average US company’s total budget. This number is expected to rise as more companies take reskilling more seriously in order to keep pace with AI.
Management is not exempt. One common misconception is that only entry-level jobs are subject to automation. This is not the case. Many mid-level and senior-level positions will also be fundamentally changed by AI, even if they are not anticipated to be done away with completely. An IBM Institute for Business Value Study predicts that 4 out of 5 roles in a company will be fundamentally affected by AI. In fact, ironically enough, the role with the most to do to facilitate this change is HR. Human Resources is expected to become a crucial pillar in helping employees hold and improve their own value relative to AI within the company.
Not everyone needs to code. Deloitte estimates that soft skills will become increasingly valued for employment. Soft skill-intensive work is even estimated to account for up to two-thirds of all jobs by 2030. For those less suited to data analysis, reskilling for AI can, therefore, include improving language skills, collaboration, cultural literacy, and customer service.
AI has the potential for job creation
While most studies report that the rise of AI may automate away existing jobs, there are many new roles associated with the addition of AI. The World Economic Forum estimates that around 83 million jobs will be disrupted by the usage of AI, but around 69 million new jobs will also be created by 2025. A study from HR Today reports that 87% of executives expect to augment, instead of replace, job responsibilities with AI. Reskilling ensures that your employees are on the right side of this development and have the best possible opportunity to seize one of the new job opportunities being created.
About NetworkTigers
NetworkTigers is the leader in the secondary market for Grade A, seller-refurbished networking equipment. Founded in January 1996 as Andover Consulting Group, which built and re-architected data centers for Fortune 500 firms, NetworkTigers provides consulting and network equipment to global governmental agencies, Fortune 2000, and healthcare companies. www.networktigers.com.
All articles sponsored by NetworkTigers.
