FE News | The Future of Work: Key Skills for Companies to Optimize AI Integration

This article looks at the future of work and the adoption of new technologies such as AI and Cloud. Plus changing work landscapes with AI, citing historic changes in the internet age. It also anticipates new roles amid the impact of AI, emphasizing cognitive, creative and technological skills for the future.

It may seem like the future of work is changing, but it always has been. AI will replace some jobs, but it will also create new ones where people will use AI to make their jobs easier.

Let’s take a walk down memory lane. The initial introduction of the Internet in the 1990s caused concern that jobs would be lost, especially office jobs that relied on manual tasks. However, new jobs have been created in areas such as web development, cyber security and social media management. This has resulted in UK unemployment effectively falling from 10% in 1993 to 5% in 2003. The future of work with artificial intelligence will be similar, while some jobs will be replaced by technology and digitalisation, the true disruption will be in the skills required, requiring a focus on cognitive skills, creative thinking and technological literacy. Employers predict that 44% of workers’ skills will be disrupted in the next five years, according to the World Economic Forum.

The important thing for people to do in this context is to figure out how to take advantage of these changes and be ready when the future of work comes.

Labor landscape forecast

The International Monetary Fund (IMF) estimates that nearly 40% of jobs are exposed to AI, rising to 60% in advanced economies. Places that could be affected by AI tend to have some common characteristics. AI excels at managing predictable, routine tasks that follow clear rules, so jobs in data entry, bookkeeping, basic financial reporting, programming and some assembly lines will be affected.

Additionally, data analytics jobs such as loan processors, insurance underwriters and some market research analysts will be affected as AI can analyze massive data sets faster and more accurately than humans. AI-powered chatbots can handle basic customer questions, solve problems, and answer FAQs. This may affect some call center representatives and customer service assistants. Even some legal research and medical diagnostic tasks could be affected by advanced AI.

Three essential skills for the AI ​​era

So clickbait headlines about “AI making all jobs redundant” right? In short, no. We’ve been down this road before as technology continues to change our world and change it for the better. The solution is the same as in all other massive changes from technology, we need to improve cognitive skills, creative thinking and technological literacy while working alongside technology and AI.

The first step is to identify key roles and research how technology will affect them. What tasks are changing? What new skills are needed? From here we need to design upskilling programs for specific skill gaps in each role. This can be delivered by offering a combination of online courses, workshops and mentoring to address technical skills, soft skills and digital literacy.

To maximize uptake, promote programs, ensure accessibility and provide ongoing technical support. Monitor participation, measure skill development and adapt programs based on feedback. And finally, foster a culture that encourages continuous learning and skill development. Recognize and reward employees who actively participate in upskilling initiatives.

What work can look like in a world based on artificial intelligence

Imagine that a data analyst at a retail company is tasked with understanding the buying habits of customers. They would use critical thinking to define the problem and choose relevant data sources. They would then apply problem-solving skills to design queries and analyze data. By recognizing patterns in buying behavior, they could identify trends or customer segments.

Finally, they would use data visualization skills to present their findings to stakeholders in a clear and concise manner. Their attention to detail would ensure the accuracy of their analysis, and their learning agility would allow them to adapt to new data sources or analysis tools in the future.

Not all companies will be able to navigate this transformation alone. Companies can look to partner with technology experts who can not only advise, but also build the technology uniquely needed for your business purposes in the new era of AI. Expert knowledge of AI and Data Analytics is essential, as well as basic skills in infrastructure and application modernization.

Embracing Change

Each generation feels that they are the ones moving at the fastest pace with the most changes and that previous generations had it easy. It seems that accelerating change is just the status quo.

In the 2000s, Kofi Annan, the seventh Secretary-General of the United Nations stated that “the world is becoming increasingly complex and interconnected”. 50 years ago, Eleanor Roosevelt said that “the world is becoming more complex every day. Things that were important to us yesterday are not important to us today.”

In addition to staying on top of AI advancements, reflect on technology’s transformative impact on productivity and quality of life. In the early 20th century, people typically worked 60 hours a week. This number dropped significantly to 40 hours in the early 1990s, enshrined as the standard working week in the UK by legislation.

Maybe the future of work is actually less easy work and more impactful work?

Julian Mulhare, Managing Director – EMEA, Searce