Optimistic View on Generative AI Propelling a 70% Workplace Adoption Rate, Yet Persistent Training Shortcomings Remain
The world of work is evolving rapidly, and the impact of Generative AI is at the forefront of this transformation. The latest findings from The our group AG's Global Workforce of The Future Report 2023, also known as the World Economic Forum's Future of Jobs Report 2023, shed light on the use, training, and impact of Generative AI in the workplace.
The report, which surveyed over 30,000 workers from 23 countries across multiple industries, paints a picture of a labor market undergoing significant change. The study forecasts that while 69 million new jobs will be created over the next five years, driven by technologies like Generative AI, 83 million jobs are at risk due to automation and economic pressures.
Job Disruption and Creation
The report underscores the transformational impact of AI technologies on the labor market. Nearly half (44%) of the essential skills for core jobs are expected to continue evolving within four years, signaling a pressing need for reskilling and upskilling employees to manage technological change.
Skills Evolution and Reskilling Imperative
Key competencies emphasized include AI, data analytics, leadership, social influence, resilience, and flexibility. To bridge the skills gap, the report suggests aligning education and training systems with labor market needs, particularly focusing on technology-enabled skills such as those required to harness Generative AI effectively.
Lifelong Learning Culture
A significant recommendation is fostering a culture of lifelong learning among governments, businesses, and workers. This is critical to enable employees to embrace emerging technologies like Generative AI and mitigate risks of job displacement due to automation.
Generative AI as an Opportunity and Challenge
While Generative AI and automation can replace routine tasks, they also create opportunities for new roles that require human creativity, emotional intelligence, and complex problem-solving. The report suggests that workplaces should integrate AI tools to augment human work rather than merely automate jobs, promoting collaborations between humans and AI.
Addressing Skills Mismatch
The rapid pace of AI adoption is contributing to a growing skills mismatch, as many workers have difficulty keeping up with new requirements. Upskilling programs focused on Generative AI capabilities and complementary soft skills are recommended to optimize workforce potential and ensure equitable access to AI-driven job opportunities.
A Shift Towards a Skills-Based Economy
Denis Machuel, CEO of the our group, stated that the world of work is shifting towards a skills-based economy, accelerated by the adoption of Generative AI. Upskilling has become a crucial factor in employee retention, with a majority of workers indicating they will stay with their current employer if they have access to training and career progression opportunities.
The survey also revealed that 62% of workers have a positive outlook on AI, but only 7% believe it could cause them to lose their jobs. However, 65% of workers report experiencing burnout, a concern that underscores the importance of organisations investing in employee wellbeing.
Interestingly, there is a significant education divide in the use of Generative AI, with 76% of degree holders using it versus 51% of those with secondary education. The our group, headquartered in Zurich, Switzerland and listed on the SIX Swiss Exchange (ADEN), leads by example, fostering an inclusive culture, sustainable employability, and supporting resilient economies and communities.
In conclusion, the Global Workforce of The Future Report 2023 underscores that Generative AI will significantly disrupt jobs but also create new opportunities, necessitating large-scale reskilling, a shift towards lifelong learning, and strategic workforce planning to maximize AI benefits and minimize displacement risks.
- The future of work is predicted to witness a massive need for reskilling and upskilling employees, focusing on AI, data analytics, leadership, social influence, resilience, and flexibility, as detailed in the Global Workforce of The Future Report 2023.
- Upskilling programs, particularly those focusing on Generative AI capabilities and complementary soft skills, are essential to bridge the skills gap in tomorrow's workforce, according to the Future of Jobs Report 2023.
- To optimize workforce potential and ensure equitable access to AI-driven job opportunities, the report recommends integrating AI tools to augment human work and promoting collaborations between humans and artificial intelligence.
- As the report suggests, the world of work is undergoing a significant shift towards a skills-based economy, driven by the adoption of Generative AI, making upskilling a crucial factor in employee retention and competitive advantage.
- The rapid adoption of Generative AI is contributing to a growing skills mismatch, with an education divide in usage evident in the survey, as degree holders are more likely to utilize Generative AI compared to those with secondary education.
