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The 2024 Work Trend Index report by Microsoft and Linkedin gives us some insight into the impact of AI. What can we do to mitigate it?
AI: A Double-Edged Sword in the Workforce
The rapid advancement of Artificial Intelligence (AI) is transforming workplace dynamics, prompting concerns about job displacement. According to the 2024 Work Trend Index Annual Report by Microsoft and LinkedIn, 45% of knowledge workers worldwide fear AI will replace their jobs. However, the immediate threat lies not in AI itself, but in individuals leveraging AI to outperform others. Laurence Liew, Director for AI Innovation at AI Singapore, highlights the importance of mastering generative AI tools, such as OpenAI’s ChatGPT, and developing prompt engineering skills to remain competitive in the evolving job market .
Upskilling and Reskilling: The Workforce’s Response
As AI reshapes the employment landscape, the focus on skilling, reskilling, and upskilling has intensified. The report indicates that 75% of knowledge workers are already utilising AI in their roles, with many prioritising skill development. The online learning platform Udemy reports a significant increase in demand for AI-related training, including a 5226% surge in ChatGPT courses in Q1 2023. These efforts aim to equip workers with the expertise needed to harness AI effectively, turning potential threats into opportunities .
The Future Job Market: Threats and Opportunities
The World Economic Forum’s “Future of Jobs Report 2020” projects that by 2025, AI will displace 85 million jobs while creating 97 million new ones. Jobs susceptible to automation, such as customer service, basic factory roles, accounting, and certain media positions, are at higher risk of being replaced by AI. However, by embracing AI tools and enhancing relevant skills, workers can navigate these changes and secure their place in the future job market .
(Visit Economic Times for the full story)
*An AI tool was used to add an extra layer to the editing process for this story.
