Global Study: 1.4 Billion Workers Worldwide at Risk of Reskilling Due to AI and Automation
According to a recent global study conducted by the IBM Institute for Business Value, approximately 1.4 billion workers worldwide are at risk of needing reskilling in the face of AI and automation. This study highlights the need for workforce reskilling in Australia, where executives estimate that around 39% of their employees will require new skills within the next three years due to the implementation of AI and automation.
To put this into perspective, the World Bank’s data indicates a global workforce of 3.4 billion people, meaning that a significant portion of the workforce, around 1.4 billion individuals, may need to undergo reskilling in the near future.
The study, titled Augmented Work for an Automated, AI-Driven World, emphasizes a key concern among Australian executives: the imperative to nurture new skills among their existing workforce. This challenge is regarded as the most crucial facing their organizations.
As AI becomes increasingly proficient at handling manual and repetitive tasks, employees in Australia emphasize their desire for meaningful and impactful work as their top priority. They also express the need for flexible work arrangements and growth opportunities.
In contrast, when executives were asked about their perception of Australian employees’ priorities, they identified autonomy as the primary concern, followed by growth opportunities and flexible working arrangements.
Ian Abraham, Managing Partner at IBM Consulting Australia & New Zealand, underscores the significance of these findings. He states, As AI continues to permeate all facets of enterprises, people remain a core competitive advantage for businesses, but leaders face a multitude of talent-related challenges. The businesses of tomorrow cannot run with yesterday’s talent, and tomorrow’s talent cannot be plugged into yesterday’s ways of working. Leaders have to be at the helm of navigating these challenges, redesigning work, and shepherding their organizations into the future.
This study serves as a wake-up call for organizations worldwide to recognize the implications of AI and automation on the workforce. Reskilling and upskilling initiatives must be implemented to equip employees with the necessary skills to thrive in an AI-driven world. As technology continues to evolve, it is essential for businesses to adapt and ensure that their talent remains relevant and competitive.
The findings from this global study paint a clear picture of the challenges and opportunities that lie ahead. By investing in reskilling initiatives and prioritizing the development of new skills, organizations can empower their workforce and pave the way for a successful future in the era of AI and automation.
References:
[1] IBM Institute for Business Value: Augmented Work for an Automated, AI-Driven World.
[2] World Bank: Data on the global workforce.
