Global Study: 1.4 Billion Workers Worldwide at Risk of Reskilling Due to AI and Automation, Australia

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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.

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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.

Frequently Asked Questions (FAQs) Related to the Above News

How many workers worldwide are at risk of needing reskilling due to AI and automation?

Approximately 1.4 billion workers worldwide are at risk of needing reskilling in the face of AI and automation, according to a global study by the IBM Institute for Business Value.

Why is workforce reskilling important in Australia?

In Australia, 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. This highlights the need for workforce reskilling in the country.

What is the global workforce size?

According to the World Bank's data, the global workforce size is approximately 3.4 billion people.

What is the main concern among Australian executives when it comes to their organizations?

The main concern among Australian executives is the imperative to nurture new skills among their existing workforce. This is regarded as the most crucial challenge facing their organizations.

What are the top priorities expressed by employees in Australia in relation to AI and automation?

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.

How do executives perceive the priorities of Australian employees in relation to AI and automation?

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.

What does Ian Abrahams, Managing Partner at IBM Consulting Australia & New Zealand, highlight regarding the impact of AI and talent?

Ian Abrahams highlights the significance of these findings and states that as AI continues to become more prevalent in businesses, talent remains a core competitive advantage. However, leaders face talent-related challenges and must be at the helm of navigating these challenges to ensure the organizations thrive in the future.

What does this study suggest organizations worldwide need to do in response to AI and automation?

This study serves as a wake-up call for organizations worldwide to recognize the implications of AI and automation on the workforce. It suggests that reskilling and upskilling initiatives must be implemented to equip employees with the necessary skills to thrive in an AI-driven world.

How can businesses adapt to the evolving technology and ensure their talent remains relevant?

Businesses can adapt by investing in reskilling initiatives and prioritizing the development of new skills. By doing so, they empower their workforce and pave the way for a successful future in the era of AI and automation.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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