Employment impact induced by greater use of machines and robotics has existed for centuries, so this is not new. What is new is the fact that emerging technologies like artificial intelligence (AI) are constantly evolving, creating opportunities and transforming how people work across industries.
AI is not a new concept; it has been around for decades. In the mid-1950s, John McCarthy, an American computer scientist and cognitive scientist, coined the term ‘artificial intelligence’ and defined it as “the science and engineering of making intelligent machines”.
AI research then began. McCarthy − along with Alan Turing, Herbert A Simon, Allen Newell and Marvin Minsky − soon became known as the founding fathers of AI. The ultimate objective was to “make a machine think exactly like a human and also be capable of abstract thought, solving problems and self-improvement”.
Today, AI is everywhere and is used to enhance business decision-making, solve practical problems and automate business processes, to mention a few. There is no doubt AI will continue its explosive growth in 2023.
There are, however, two profound sides to AI: first, how AI can improve business operations and boost the bottom-line; and second, how AI is affecting job roles and disrupting some traditional roles, while at the same time creating new job opportunities.
Many technology giants, like Amazon, Microsoft and Google, and consulting companies, like PwC, EY, KPMG, Deloitte and Accenture, are driving and selling the benefits of embedding AI into business processes, products and services for improved competitive advantage.
There is no doubt AI will continue its explosive growth in 2023.
Research from PwC predicts AI could contribute approximately $15.7 trillion to the global economy by 2030. This is more than the current output of China and India combined.
So, the potential of AI is significant and its value for effective digital transformation of organisations is remarkable, but what is happening to the workforce?
We have seen several headlines around AI; for example: ‘Robots could take over 20 million jobs by 2030’, ‘Robots are coming for your jobs too’, ‘AI experts say automation could replace 40% of jobs’.
The World Economic Forum estimates 85 million jobs will be replaced by machines with AI by 2025. So, with all these challenges and opportunities, the big question is: what can you do to ensure your skills are relevant and that you are future-proofing your career?
In South Africa, the current unemployment rate is at 33.56%, which is one of the highest in the world and is a significant challenge, impacting the disposable income of families, eroding purchasing power, increasing poverty, reducing economic output, affecting the mental health of individuals and so forth.
The potential threat of replacing humans with technology would exacerbate an already serious issue. However, what is not often spoken about is that AI and other emerging technologies have the capabilities to create a host of new job roles that never existed before, thus creating new employment opportunities for individuals.
Some of these new job roles include social media manager, digital marketer, computing specialist, application developer, data analyst, data scientist, AI engineer, DevOps specialist, operator of drones that deliver help, and so much more.
The World Economic Forum went on to say that not only will jobs be replaced, but in fact 97 million new roles will be created by 2025, as humans, machines and algorithms increasingly work together.
So, it is imperative that individuals upskill and reskill themselves. This can be done by taking advantage of the plethora of resources that are already available: online courses, learning through YouTube and the internet, free online material, completing a degree or short courses at a well-accredited university, getting in touch with mentors and role models, to name but a few. All of which are aimed at upskilling and reskilling for the jobs of the future.
Many C-level executives are highlighting the fact that their workforce does not have the required digital competencies, such as knowledge and skills, to work alongside technologies like AI, but what are these executives actually doing to improve this across their organisation?
Sure, everything that we want to learn is available on the internet these days, but is this sufficient?
In a Harvard Business Review article, six strategies were highlighted as key to upskilling the workforce:
- Treat skilling as a business investment, not an expense.
- Focus on healthy skilling.
- Bring the joy back to learning.
- Power up with data.
- Assemble your own skilling stack.
- Empower employees to learn.
All of these are aimed at creating a culture of learning.
Some technology giants are also investing significantly in upskilling initiatives which organisations can benefit and learn from. For example, these include Microsoft, Amazon and Google.
There are different ways organisations can invest and partner to upskill and reskill their workforce.
AI has the potential to improve productivity, drive profit and enhance business growth, while also providing organisations with new opportunities to create jobs.
This is certainly an insightful list to ponder on, as it is imperative for companies to reimagine how they bring learning to their workforce at scale and at speed to ensure effective upskilling and reskilling consistently takes place.
This will allow your workforce to keep up with innovations and use AI to better enable the human workforce across job levels and not replace them with technology.
It can also help retain the workforce and attract qualified new candidates; simultaneously, not adding to the level of unemployment but rather creating employment opportunities by using emerging technologies and innovations as a job creator not a job destroyer.
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