The World Economic Forum’s 2023 Future of Jobs report shines a light on the state of the jobs market and the trends currently shaping its evolutions. One of the big observations is how much of an influence technology is having on the future of work: More than 85 percent of organizations have identified increased tech adoption and broadening digital access as the primary drivers of transformation.
The leaps and bounds being made across the tech space bring with them the natural surge of positive and negative attention. Rapid innovation often divides opinions.
One thing is for certain: As we move forward, individuals and businesses need to understand future challenges. The ability to navigate these challenges while embracing new technologies will be critical for success in tomorrow’s job market.
Impact of Changing Tech Trends
Industry 4.0 is in full swing. Since it was first categorized by Klaus Schwab, founder and executive chairman of WEF, in 2015, the Fourth Industrial Revolution has witnessed accelerated innovation across the technology sectors, which has already profoundly impacted various industries.
The name of the game at this stage is productivity. Organizations are bending over backward to champion their people, processes, and technology to achieve optimum business output.
As technology continues to evolve, it creates enormous opportunities for job creation. According to the WEF report, evolutions across big data analytics, climate change, and cybersecurity, in particular, are seen as the primary catalysts for job growth.
There are two sides to the coin, meaning there is always a fair bit of attention on the potential downsides of such rapid innovation. Artificial intelligence (AI) and robotics spring to everyone’s minds at this point as workers fear the disruption it may cause in the labor market.
However, the potential for job growth and tangible support for workers that this technology brings to the industry is undeniable, and forward-thinking organizations are jumping at the opportunity to take advantage. Interestingly, the WEF report reveals that the electronics (83 percent), energy technology and utilities (72 percent), and consumer goods (71 percent) industries are likely top robotics adopters.
Technology undoubtedly plays a huge part in shaping our jobs market, but its primary purpose is to support the proper foundations that uphold business success across industries —the workforce.
Importance of Upskilling and Reskilling
The WEF report forecasts that AI is expected to disrupt 44 percent of jobs over the next four years. However, organizations must view this advancing technology as an opportunity to champion and support their workforce rather than replace it.
As AI and other tools now have the capabilities of automating manual, low-value tasks, workers can be freed up—and further jobs created—to fulfill more value-add activities. A core component of this transition is upskilling and reskilling. Organizations need to ensure they’re offering their workers every opportunity to progress in their position as the business evolves around them.
According to the WEF, the highest priority for skills training from 2023 to 2027 is analytical thinking, followed closely by creative thinking.
However, the existing training model is fundamentally flawed. In essence, digital, traditional linear training programs fall short of their primary purpose: to offer tailored learning opportunities to each worker. Instead, each learner is guided through the same course and content, regardless of existing knowledge and experience.
Furthermore, the manual task of keeping programs up-to-date and relevant to each learner is extensive, meaning the job often is neglected.
This is where AI slots seamlessly back into the conversation.
The Modern Worker’s Companion
AI-powered learning technology is a useful tool in the business toolbox that enables tailored corporate training and enhanced productivity.
Despite recent examples of AI dominating the headlines—most commonly the generative models such as ChatGPT—time and again, we witness AI’s unquestionable supportive value to the workforce. And digital corporate learning is just one example.
As long as companies recognize and understand that this tool cannot be solely relied upon, its value within the business will be sustained. AI cannot replace the decision-making capabilities and depth of knowledge of the human brain—it serves to complement human expertise, not replace it.
Businesses that use AI to enhance corporate training to champion and support the workforce committed to upskilling and reskilling individuals as required will only strengthen their position in the dynamic market.
As technology continues to develop and new capabilities are discovered and adopted, workers must be given every opportunity to grow with the business. After all, in this constantly evolving world, the human brain is, and will forever be, our greatest asset.
