Navigating The Workforce Shift
In a recent article, Don Reisinger describes a consortium formed to address the impact of jobs lost to AI. In an era where technological advancements have the potential to reshape industries at an unprecedented pace, concerns about the displacement of jobs due to artificial intelligence (AI) adoption have reached a critical juncture. Acknowledging this challenge, several leading tech companies, deeply entrenched in the realm of AI, have joined forces to mitigate the impact of job loss and facilitate workforce transitions.
Some of the major names in the industry have established the AI-Enabled Information and Communication Technology (ICT) Workforce Consortium. This coalition aims to support individuals who have been or may be affected by AI-induced job displacement by offering avenues for upskilling and reskilling, enabling them to re-enter the workforce seamlessly.
The stated consortium’s mission emphasizes its commitment to equipping organizations with insights into AI’s workforce implications while empowering individuals with relevant skill sets. The Consortium’s formation comes at a time when reports of job losses attributed to AI adoption are becoming increasingly common. A recent wide-ranging poll of 2,000 executives conducted by Swiss staffing firm Adecco Group in collaboration with research firm Oxford Economics showed that 41% of them expect to employ fewer people because of artificial intelligence.
The poll found that 61 percent believe AI is a game changer for their industry, with the figure rising to 82 percent in the tech sector and 51 percent among automakers.
Companies such as UPS and IBM have already acknowledged the necessity of layoffs or hiring freezes due to AI. According to a study by Challenger, Gray & Christmas, US companies have collectively shed over 4,600 jobs as they pivot towards AI-ready talent or automate existing roles. Interestingly, many of these job cuts stem from innovations developed by members of the ICT Consortium themselves.
Despite acknowledging the inevitability of lost jobs, consortium members remain optimistic that upskilling and reskilling initiatives will facilitate career transitions for affected workers. Our recent TCS study probed the futurist community and found similar optimism. The survey reveals an overwhelming sense of optimism among futurists regarding AI’s impact, particularly in the realm of work. A staggering 90% of surveyed futurists express optimism about the changes AI will bring, with nearly half of them being very optimistic. This optimism extends to AI’s potential contributions to employee health and wellness, as 72% of participants foresee significant positive impacts.
That optimism, while encouraging, will not lead to positive change on its own. Education has always been the bridge between eras — and this consortium is a step in the right direction. Outlined within the consortium’s ambitiously stated goal is the intent to positively impact over 95 million individuals worldwide within the next decade. Member companies have outlined specific targets to substantiate their commitment. The consortium intends to conduct a comprehensive analysis of 56 job roles, constituting 80 percent of the top 45 job titles based on recent job postings. Subsequently, recommendations will be formulated to bridge skill gaps and align workforce capabilities with the evolving needs of ICT member companies.
As a general-purpose technology, we are still in the early stages of understanding the system-level changes likely driven by AI. As described in an earlier post, electricity provides a window into possibilities. Electricity evolved through four stages: after replacing steam engines, it moved to various point solutions and then broader applications that culminated in system-level changes. It took 40 years for that evolution to play out. Many believe that AI will ride that evolution on a faster timeline. As such, the breadth of job impact is guesswork. While the objectives of the consortium are admirable, there are many potentially impacted jobs that will not be addressed.
That brings us back to the critical role of education and leadership. While the ICT Consortium is a positive step, this is a transformative journey and the road ahead may be fraught with challenges. Our collective resolve is required to not only mitigate the adverse effects of AI on employment but also to foster a future where technological innovation and human potential intersect harmoniously.
Originally published at http://frankdiana.net on April 8, 2024.
