A recent IBM report suggests that the growing adoption of AI technologies would necessitate the “reskilling” of 40% of the world's workforce over the course of the next three years.
According to ZDNet, the quick development of AI technologies is changing how organizations run and the skills needed by their employees. According to a recent IBM study that collected data from polls of C-level executives and employees, business leaders think AI will significantly alter the workforce and how businesses operate.
According to the survey, managers anticipate that the application of AI will require “reskilling” for 40% of their employees during the next three years. According to World Bank data, this amounts to almost 1.4 billion of the 3.4 billion individuals who are employed globally. Yet, 87 percent of the executives polled thought that job functions would be enhanced rather than replaced by generative AI.
The study by IBM emphasizes how crucial reskilling is in the AI era. The study finds that tech adopters who successfully reskill to adapt to employment changes driven by technology experienced an average revenue growth rate premium of 15%. Also, those who prioritize AI outperform their colleagues in terms of revenue growth rate by 36%. According to IBM, “AI won't replace people—but people who use AI will replace people who don't.”
The report also reveals a change in the kinds of abilities that employers value. Technical expertise in fields like STEM, which was once highly valued, has lost some of its importance. People skills, on the other hand, are becoming more significant. In the AI-driven economy, skills like effective teamwork, effective communication, and flexibility are becoming more valuable.