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40% of workers need to reskill in next 3 years, IBM study

At least 40% of workers would have to reskill in the next three years, a new IBM study claims. The results from a new global study were released by the IBM Institute for Business Value – and it claims that “the world of work has changed compared to even six months ago.”

As a result of implementing AI and automation over the next three years, executives said that 40% of their workforce would have to reskill themselves. This could mean that 1.4 billion people of the 3.4 billion people in the global workforce would need reskilling, according to World Bank statistics.

How AI is changing work forever
Respondents also said that building new skills for existing employees remains a key talent problem. While workers at all levels are expected to feel the effects of generative artificial intelligence, those at the entry-level are expected to feel the most heat.

77% of the executive respondents claimed that entry-level positions are already seeing the effects of generative AI and that these shifts will only become more pronounced over the next few years. Only 22% reported the same to be true for executive or senior management roles.

At the same time, AI can open up new avenues for employees to enhance their capabilities. 87% of executives surveyed claim that employees are more likely to be augmented than replaced by generative AI. But this varies based on function – 97% of executives think employees in procurement are more likely to be augmented than replaced, compared to 93% for employees in risk and compliance, 93% for finance, 77% for customer service, and 73% for marketing.

AI will essentially take on more repetitive tasks. Those surveyed also claimed that engaging in meaningful work is more important that compensation and job security, even more important than flexible work arrangements, growth opportunities, and equity.

IBM studied data from two prior studies – one survey of 3,000 C-level executives in 28 countries and another of 21,000 workers in 22 countries. The research states that employees who are able to successfully reskill to “technology-driven job changes report a revenue growth rate premium of 15% on average” and those who use AI “see a 36% higher revenue growth rate than their peers.”

In the report, IBM claimed that AI will not replace people, but “people who use AI will replace people who don’t.” IndiaTimes

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