People And AI: Reskilling For the Future

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Hard Times by Charles Dickens, published in 1854, explores the social and economic challenges faced by the working class during the Industrial Revolution. Dickens uses the novel as a commentary on the dehumanizing effects of industrialization, the miserable lives of factory workers, and the disparities between the wealthy and the poor. The novel’s enduring themes exploring social injustice and the importance of a more compassionate society remain relevant even today.  

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We are in the middle of the artificial intelligence (AI) revolution transforming how people work, by making operations more efficient, supporting better decision-making and freeing up time for more productive tasks. While AI tools are a long way from the machines of the Industrial Revolution, the concern that machines might take over tasks from humans is not entirely misplaced.  

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In such times, the need to inspire people to gear up for an AI-fueled workplace becomes a priority. According to CBS news, the US job market remains one of the main engines of the economy, yet the January 2024 job cuts clustered in financial and tech businesses are indicative of the strategic shift towards increased automation and AI adoption. Companies cite cost-cutting as the main driver for layoffs, with financial firms announcing 23,200 job cuts, and tech companies slashing 16,000 jobs. But the advent of AI, no doubt very different from the original industrial revolution, raises a similar concern of machines replacing humans. People are central to success for organizations, and now that leaders are actively looking for ways to implement AI in the workplace, they will have to ensure employees are ready to embrace the technology wholeheartedly, since people will be essential to driving the implementation and usage of the technology.  

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Leaders will have to build and strengthen employee trust in AI.

Employees obviously have the most at stake when introducing AI into the workplace. A study predicts that two-thirds of jobs in the US and European markets will be disrupted in some way by AI automation and this change will affect women more than men – 80% compared to 60% respectively. With these numbers, the responsibility to maintain employee morale and productivity lies with the leaders. And trust building begins with transparent communication.

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Employees will have to be engaged in discussions reshaping the organization's AI-enabled future and this new era of work. However, to fully execute a symbiotic relationship between people and technology, the right mix of AI skilled talent will be needed. In a report The AI Skills Gap by SnapLogic, 93% of US and UK organizations surveyed (300 IT leaders representing organizations with more than 1,000 employees in the US and UK) considered AI to be a business priority but cited the lack of skilled people in-house as the number one obstacle to progressing their AI initiatives. Leaders believe that humans and AI will augment each other, but to meet their aspirations, they will require the right combination of people to translate business needs into solutions.  

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Closing the AI skills gap will empower businesses to fully leverage the technology.

Businesses are refocusing investments in AI and obviously view the development of AI capabilities as a competitive advantage. But before they can fully embrace the technology, leaders have an obligation to reskill their people and future-proof the workforce. The top skills required to successfully implement AI in organizations are given below.  

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Source: The AI Skills Gap

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The estimation is that at least 40% of the workforce may need to reskill due to AI implementation or automation over the next three years. People need to show diverse skills from technical expertise to empathy and adaptability in thinking, to work most effectively with AI. These estimates seem overwhelming, but they bring up an exciting opportunity to empower people and develop the desired skills for jobs in the digital economy. Organizations should aim to build in-house capabilities, ensuring that skills match the pace of technological advancement.

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However, establishing in-house talent immediately may take time, and as a result, businesses would need external support. Data Pilot’s expert team of data scientists, analysts and data engineers helps organizations fill the gaps in skill shortages and overcome the challenges of AI adoption. In the last three years, the team has completed more than 50 projects in 7 countries, aiding customers in work as diverse as implementing computer vision to detect defects for a global textile brand, using predictive analytics to forecast churn for a media and advertising firm, and proactively developing omnichannel analytics for a contemporary women’s fashion retailer. Sounds positively marvelous, right? It is.

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Pro tip: Consult our experts for more.

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While there is no quick and easy solution to the AI skills gap, one immediate approach is to understand the significance of human capital and know that the main value of AI is to augment human work and remove redundancies.  

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Human capital remains a crucial asset for organizations.

Automation is not synonymous with elimination. The opinion is to reimagine work as a collaborative process where humans define the problems, machines find the solutions, and humans verify the acceptability of those solutions. This concept of a mutually beneficial relationship between humans and machines is not new – computer scientist J.C.R. Licklider proposed the “man-machine symbiosis” as early as 1960. The emergence of AI in the last few years has brought people and organizations to a fascinating point in time, where the development of an agile and skilled workforce is extremely valuable.  

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As a change management initiative, businesses will have to participate actively in supporting their existing talent through reskilling and upskilling.

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Source: The AI Skills Gap

While the figures are promising, few companies have seriously considered the option for reskilling. They prefer to fill roles through hiring rather than internally developing people for future roles. Completely relying on hiring new talent becomes challenging when the demands for jobs and skills are continuously evolving. Therefore, leaders and CEOs need to find the right balance between hiring and reskilling.  

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Preparing the organization to transition towards a more tech-savvy, future-ready workforce goes beyond mere training. It involves fostering an organizational context across all roles and hierarchies, where the need for reskilling and upskilling is identified to build the company’s AI expertise. People should also develop an attitude of lifelong learning and know that integrating AI assistance into their jobs will supercharge their work in the future.

Learning opportunities can be facilitated through online learning platforms.

There is little doubt that work will be redesigned for the age of AI. Organizations will use AI to automate repetitive and error-prone tasks, freeing people up to bring their skills of judgment and empathy for more complex decisions. With freed-up capacity, organizations should embrace the accessibility of reskilling programs.  

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Online learning platforms are expected to grow 19% over the next four years. Technology has made quality education and varied learning programs accessible to people. Organizations need to use these learning platforms to their advantage and build the required talent from within. The most prepared organizations will be the ones who realize the value of human capital and embrace advanced technologies at the same time. Empowering employees with opportunities to reskill will help them utilize AI tools, become efficient, and maximize business value.

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By Tooba Shah.

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