GenAI's Influence on Industry and Skills Development

The Microsoft and LinkedIn 2024 Work Trend Index Annual Report is out, and unsurprisingly, AI is rapidly transforming the global workforce. Based on a survey of 31,000 people across 31 countries, here are the highlights, and what it means for education. Key Highlights: - AI usage has more than doubled in the last 6 months, with 75% of global knowledge workers reporting using GenAI tools. - 79% of leaders agree their company needs to adopt AI to stay competitive, but 60% worry their organization lacks a plan and vision to implement it. - 78% of AI users are bringing their own AI tools to work (BYOAI), cutting across all generations. - Leaders say they would not hire someone without AI skills (66%) and would prefer a less experienced candidate with AI skills over a more experienced one without them (71%). - AI power users are experimenting frequently with AI, getting support and encouragement from leadership, and receiving tailored AI training. They are seeing significant benefits in productivity, creativity, and job satisfaction. What does it mean for education? - Experience with AI is becoming a key hiring criteria, in part due to research that shows that GenAI use can significantly decrease skill gaps. - 77% of leaders say early-in-career talent will be given greater responsibilities due to AI. This has major implications for how schools and universities prepare students for the job market. - Only 39% of people who use AI at work have received AI training from their company, and only 25% of companies plan to offer training on generative AI this year. This gap between need for training and availability is similarly playing out in schools and systems right now. - As AI reshapes work, the skills required for jobs are projected to change significantly. Educational institutions will need to adapt curricula to focus on the uniquely human skills that will be most valuable in an AI-enabled work world, such as creativity, critical thinking, and relationship building. The rapid rise of AI is transforming the workplace and the job market and the entire education ecosystem has an essential role to play in equipping students and workers with the AI skills and aptitudes that are and will be most in-demand. For the full report, visit: https://lnkd.in/eyfSRzNj AI for Education #aiforeducation #aieducation #durableskills #GenAI #AIliteracy

As AI adoption continues to skyrocket, businesses are entering an experimental phase of incorporating AI capabilities into their operations. According to a recent report by Cognizant & Oxford Economics, the adoption of AI could increase from 13% to 31% within the next four to eight years. This rapid growth in AI adoption is expected to bring about significant changes and disruptions in various industries. #GenerativeAI, in particular, can deliver up to $1 trillion in annual growth by 2032. However, along with its immense growth potential, there is also a concern that it could disrupt up to 90% of existing jobs. This hypothesis poses a challenge for leaders who need to navigate this upheaval and ensure that they harness the full potential of this technology while minimizing any negative impacts. One critical approach for leaders is investing in people. As #AI becomes more prevalent, organizations must focus on upskilling and reskilling their workforce. By providing training programs and resources that enable employees to adapt and acquire new skills, leaders can ensure that their teams are equipped with the knowledge and capabilities needed in an AI-driven future. Additionally, leaders should foster a culture of continuous learning and innovation within their organizations. Encouraging employees to embrace change and explore new opportunities presented by #GenAI technologies can help them stay ahead of the curve. Furthermore, collaboration between humans and machines should be emphasized. Rather than viewing AI as a replacement for human workers, leaders should recognize its potential as a tool that enhances human capabilities. By leveraging the strengths of both humans and machines, organizations can achieve greater productivity and innovation. In conclusion, investing in people becomes crucial as businesses navigate the upheaval of increased AI adoption. By prioritizing employee development and fostering a collaborative environment between humans and machines, leaders can effectively harness the full potential of this transformative technology while ensuring a smooth transition into an AI-driven future.

I had the opportunity to dig into some fascinating #research from Indeed last night after they released their latest research report on the impact of #genai and the #workforce. A big takeaway for me, we are in a fascinating dance between the role that #ai plays and how diverse #jobs are in the workplace. Whether you’re a leader, a #technology enthusiast, or just plain curious, this is the conversation you don’t want to miss! A few of the key statistics and insights: 1) Varied Exposure: Only 19.8% of jobs are at high risk of GenAI-driven change, with 34.6% at the lowest risk. 2) Skill Mastery: GenAI excels in only four of the 48 skill families analyzed, showcasing the irreplaceable nature of diverse human skills. 3) Remote Work Link: The adaptability to remote work correlates with higher GenAI exposure, highlighting the need for balanced strategies. 4) Demand vs. Exposure: 20 of the 25 most in-demand jobs on #Indeed are less exposed to GenAI, indicating the sustained value of human roles. 5) Skill Spectrum: From software development to driving vehicles, the proficiency of GenAI varies significantly across different skills, emphasizing the complementarity of AI and human expertise. A few things we should think about in all of #work today: * How can we harness #generativeai to augment and amplify human capabilities? * What strategies can foster a culture of continuous learning and begin #education NOW? * How do we balance the benefits of remote work with GenAI exposure? Explore the full report and additional research here - https://lnkd.in/g7vgMNmD #AI #FutureOfWork #Leadership #GenAI #IndeedHiringLab Mercer Mercer US #human #humancapability #jobs #skills Ravin Jesuthasan, CFA, FRSA Ryan Malkes Kai Anderson Kate Bravery

🚀 Exciting News for Business Leaders via EY EY-Parthenon! We're thrilled to announce the launch of Article 4 in our groundbreaking series on the economic impact of #artificialintelligence. ⏳ Throughout history, technological advancements have reshaped the workforce, sparking fears yet also fostering growth. As we explore in our series, despite concerns, technological progress has consistently generated more employment opportunities than it has replaced. 🔍 Key Findings Highlight: 1️⃣ Ubiquitous Impact: GenAI's influence is expected to be universal, affecting nearly all job functions across various sectors and geographies. A staggering 66% of US employment is highly or moderately exposed to GenAI, with global figures echoing similar trends. 2️⃣ Skills at the Forefront: Contrary to the myth of AI replacing low-skilled jobs, we find that GenAI enhances job potential, especially for roles requiring complex cognitive tasks. 3️⃣ Sector-Specific Exposure: Engineering, life sciences, computer and mathematical, and legal sectors are the most highly exposed to GenAI, while the social, education, food services and personal care services sectors are least exposed. GenAI is transforming the workforce by enabling workers to delegate routine, data-heavy tasks to GenAI. 4️⃣ More money, more exposure: Higher AI exposure scores are generally correlated with occupations generating higher wages, but the widespread diffusion of functions across sectors means the relation is nuanced. ✅ Join us as we navigate the future of work, debunk myths, and explore the vast potentials of GenAI for business leaders worldwide. Dive into our latest article to understand how GenAI is not just reshaping jobs but also creating a blueprint for future employment landscapes. #AI #GenAI #FutureOfWork #EconomicImpact #BusinessLeaders #Innovation https://lnkd.in/dUEauH2i

New research from Morgan Stanley reveals the transformative potential of #GenerativeAI in reshaping the job landscape. The study suggests that AI could influence over 40% of occupations in the coming years, potentially resulting in $4.1 trillion in associated costs within the next three years—a seismic shift with profound implications for the global economy. While predicting the precise impact of this transition remains challenging, it is evident that generative AI will increasingly augment or automate various roles. The key to preparedness lies in ensuring that workers have the skills and tools necessary to succeed in this evolving landscape. As AI integration becomes commonplace across industries, organizations investing in employee training for AI utilization are poised to thrive in this new era. Explore their findings for a more in-depth analysis of AI's impact on the labor market.