“AI won’t replace people, but people who use AI will replace people who don’t,” says IBM in its latest research report, AI-driven world: Boost performance with human-machine partnerships.
Artificial Intelligence (AI) is reshaping the global work scenario and creating the need for an ‘augmented workforce’ where human machines can work in close synchronization to enhance productivity and business value.
The use of an AI-based workforce is gaining momentum these days by reducing human efforts in data-based decision-making and tool-based effective implementation.
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The AI-based workforce is at a transformational stage and a critical juncture, with an estimated 40% of the workforce needing to reskill due to AI and automation in the next three years.
According to the reports, above 40% of the current workforce needs AI and ML-based reskilling to meet future job prospects. Download the IBM Research Report
According to the IBM report, “AI and automation are creating a new division of labour, drastically altering job roles and skill requirements.”
The World Economic Forum anticipates that this shift will disrupt 85 million jobs worldwide between 2020 and 2025, while simultaneously creating 97 million new roles.
This evolution, termed the ‘age of the augmented workforce’, also widens the global skills gap, with “44% of workers’ skills expected to be disrupted between 2023 and 2028”.
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The report also says, that to remain competitive in the upcoming global economy organizations must transform traditional processes, job roles, and structures, building human-machine partnerships to enhance value creation and focus on higher-value tasks.
This needs a major reskilling effort, impacting a significant portion of the global workforce.
Generative AI is expected to change employee roles and skills profoundly in the coming years, with lower-level employees facing the biggest shifts due to AI-based tools taking up the majority of mundane tasks.
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Despite this according to the IBM report, only a minority of CEOs have assessed its impact on their workforce and how AI implications will impact the future workforce.
The AI-based AI application in jobs will compel executives to reconsider job roles, skill sets, and work processes across all levels.
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Surprisingly, 87% of executives believe job roles will be augmented rather than replaced by AI, indicating a transformation of the employee experience rather than job elimination.
AI’s potential to automate mundane tasks allows employees to focus on more meaningful work, creating new job roles and career paths.
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However, there’s a challenge in overcoming employees’ fears of being replaced by AI, according to the IBM research report AI-driven World Boost performance with human-machine partnerships
AI and automation can significantly accelerate decision-making and improve efficiency. For instance, IBM’s HR department used AI to reduce the time for managerial tasks like employee promotions, illustrating how AI can elevate humans in the value chain.
HR’s role in the age of the augmented workforce is also evolving, shifting from policy enforcement to driving value and influencing technology investments.
HR must tap into generative AI to improve business results and employee well-being.
The mantra “AI won’t replace people, but people who use AI will replace people who don’t” encapsulates the transformative effect of AI on the workforce. Rapid advancements in AI are pushing business leaders to reorganize, elevating new skills and specialities while de-prioritizing obsolete ones.
Interestingly, the importance of STEM skills is decreasing, with a greater focus now on developing people skills such as time management, collaboration, and communication. This shift reflects the evolving nature of work in the AI era.
Transforming the world of work Organizations that prioritize their operating model as an enabler of transformation outperform their skills-centric peers in multiple dimensions.
IBM Research Report Transforming the world of work
Organizations that embrace generative AI and redesign their operating models are outperforming their peers in profitability, revenue growth, innovation, and employee retention. This success is driven by a shift in perspective, aligning the organizational strategy with the capabilities of AI.
In conclusion, AI and automation are not just transforming work processes but also necessitating a reevaluation of the skills and roles within the workforce. The emphasis is shifting towards building a flexible, evolving structure and a culture that embraces change, experimentation, and ethical AI use.
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IBM Research Report Excerpts on How AI Driven World Boost Performance With Human-Machine Partnership
- IBM’s survey included 3,000 C-suite executives from across 20 industries and 28 countries. It took place in December 2022 and January 2023.
- The report found that a majority of executives, 87%, believe employees are more likely to be augmented then replaced. However, this varies across functions, with 97% of executives thinking employees in procurement are more likely to be augmented than replaced compared to 73% for marketing.
- Prioritize with purpose: Reassess your enterprise transformation game plan. Baseline current core business processes, skills, and tech investments. Identify what’s needed for the future and outline a clear plan to close the gaps.
- Lead with the operating model – Not the org structure: Align work to the customer experience. Instead of functional teams doing projects, organize people into networks of experts that can be tapped to address customer needs. This shifts the focus from project deadlines to delivering value.
- Make work more rewarding: Stay grounded in reality. Reduce nearsighted decision-making by grounding leadership in the employee perspective. Give people a forum to recommend tasks that could be automated to make their jobs easier and more fulfilling. Leverage digital channels to develop a continuous and open feedback loop
- Invest in talent as much as technology: – Position re-skilling as an opportunity. De-couple today’s work from tomorrow’s work and plug in your top talent to tackle emerging tasks. Don’t be afraid to call new work “new.” Position generative AI skilling as an advancement opportunity for top performers. Don’t reskill low performers.
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