Roughly 40 percent of the worldwide labor force, which corresponds to 1.4 billion people out of a total of 3.4 billion, will need to undergo reskilling in the coming three years due to the influence of artificial intelligence (AI) and automation, as outlined in a recent study.
Executives Optimistic About AI Augmentation in the Workforce, Study Reveals
IBM, a prominent technology company, has conveyed that about 87 percent of corporate executives hold the belief that generative AI will enhance job positions rather than supplant them.
In specific sectors such as marketing (73 percent) and customer service (77 percent), this proportion is nearly three-quarters, and it surpasses 90 percent in fields such as procurement (97 percent), risk and compliance (93 percent), and finance (93 percent).
A majority of executives, more than three out of four, acknowledge that entry-level positions are presently experiencing the effects, whereas only 22 percent express the same for executive or senior management roles.
Interestingly, only 28 percent of CEOs have conducted an assessment of the potential influence of generative AI on their existing workforce.
AI and Automation – Shaping the Workforce of Tomorrow
The research emphasizes that with the ongoing advancement of AI, its impact is expected to broaden across all job levels, including managerial and executive positions. No stratum of employment is immune to this impact, necessitating a reassessment of job roles, skillsets, and work methodologies, as outlined in the study.
The World Economic Forum (WEF) anticipates that this shift will lead to the elimination of 85 million jobs globally between 2020 and 2025, while also generating 97 million new employment prospects.
Additionally, the WEF predicts that by 2028, the skills of 44 percent of the workforce will experience disruption, representing a nine-percentage-point rise from its earlier five-year forecast.
Moreover, specialists have pinpointed three essential focal points for enhancing the workforce and securing a competitive advantage: revamping conventional processes, job roles, and organizational frameworks to enhance productivity and enable novel business and operational models; forging partnerships between humans and machines that amplify value creation and boost employee engagement; and allocating resources to technology that enables individuals to concentrate on high-value tasks and stimulates revenue growth.
