The Artificial Intelligence (AI) landscape is expanding rapidly. The current momentum places it at a position where these advanced tools can shape both business and society over the next five to ten years. Generative AI (GAI) has already changed the way companies operate, converting routine tasks into more automatised functions. Findings reveals 77% percent of executives believe that GAI will have a bigger impact on broader society in the next three to five years than any other emerging technology.
Re-skilling is key to keep up with AI trends of the next decade
In terms of trends, as adoption rises, a wide range of individuals and organizations will use AI, driving innovation across sectors. With the help of low-code and no-code platforms, users who have limited technical knowledge will be empowered to use AI-driven solutions. We are also looking at a future of augmented intelligence. Contrary to popular opinion, rather than replacing human jobs, AI will increasingly augment human capabilities. According to "Redefining TMT with AI," a KPMG in India report offering key insights into the integration of artificial intelligence within India's Technology, Media, and Telecom (TMT) sector, 63% of TMT CEOs believe AI will enhance, not replace, current roles—highlighting the push for a seamless AI-human collaboration.
Businesses will focus on creating collaborative environments wherein AI assists employees in decision-making and creativity. Furthermore, with growing awareness of AI’s implications, there will be an increasing emphasis on ethical AI practices and regulatory frameworks. To this effect, leaders will have to prioritize transparency, fairness, and accountability to gain public trust.
An AI-driven workplace is a completely different ballgame. And as human beings are at the core of this transition toward an ‘AI world of work’, they will have to be skilled for them to be able to embrace AI-led tasks and enhance productivity.
Re-Skilling the workforce for AI-led changes
As AI continues to reshape work processes, it is anticipated that up to 65% of current job roles may undergo significant transformation by 2030, highlighting the critical need for continuous learning and adaptation. The rise of AI necessitates reskilling and upskilling, particularly for employees in roles that leverage AI tools extensively. To meet this challenge, companies must prioritize workforce transformation by investing in comprehensive training programs.
KPMG's "Skilling for the Future 2024" report reveals that 74% of executives plan to increase their investments in AI-related training initiatives. As AI automates repetitive tasks, employees must cultivate advanced cognitive and interpersonal skills to stay competitive in an evolving job market. Effective skilling should encompass both technical and soft skills essential for successful AI adoption within various sectors, as soft skills—such as problem-solving, adaptability, and emotional intelligence—will become equally important. Employees equipped with both these competencies are more likely to progress in their careers, and organizations with a workforce proficient in both technical and soft skills are better positioned to excel in AI-driven environments.
Additionally, industry-academic collaborations are expected to play a crucial role in developing training programs that prepare employees for AI-integrated workplaces. KPMG CEO Outlook 2024 indicates that nearly 60% of CEOs in the Technology, Media, and Telecommunications (TMT) sectors are planning partnerships with educational institutions to create talent pipelines. This collaboration aims to ensure a steady supply of skilled workers ready to thrive in AI-enhanced environments.
Being proactive for an ‘AI Future of work’
At the end of the next decade, experts predict a potential synthesis of quantum computing, which can vastly speed up some of the computation used in AI algorithms. This could birth a new era of supercomputing and scientific discovery. For now, as we continue to evolve into an AI-driven future, proactive measures in workforce preparation are essential for all industries. A combination of technical training, educational partnerships, continuous learning, and awareness programmes, organisations can equip their employees to thrive in an AI-integrated environment.
A version of this article was published in The Economic Times - Insights.com on October 28 2024. The same can be read here
Access our latest insights on Apple or Android devices
