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Ernst & Young provides a report on hiring trends, grossly impacted by AI. Does this mean anything for the Pacific?
Ernst & Young’s Insights on AI’s Impact on Hiring
A recent report by Ernst & Young sheds light on the profound changes AI adoption is bringing to the hiring landscape. According to the findings from a poll of over 250 industry leaders, approximately 50% foresee a dual trend of layoffs and hiring within the next six months, directly linked to the integration of AI technologies. This transformation poses a significant challenge for companies, requiring a delicate balance between workforce realignment and adapting to evolving skill requirements(CIO).
Tech Talent Crunch: Ernst & Young’s Startling Discovery
Tech leaders are grappling with the daunting task of sourcing top talent, with 61% indicating that emerging technologies like AI have intensified the competition for skilled professionals, particularly in cybersecurity, data science, and AI engineering. Despite concerns about AI’s impact on workplace culture and the need for more regulation, the report reveals a prevailing positive sentiment among tech leaders, with 85% acknowledging AI’s positive influence.
AI Investment Soars: Ernst & Young’s Bold Prediction
Despite challenges, 82% of tech leaders plan to ramp up AI investments, focusing on roles such as cybersecurity analysts, data scientists, and AI engineers. To equip employees for this AI-driven landscape, businesses are implementing internal development programs and technical certifications, with 64% offering internal development programs and 76% implementing technical certifications.
Pacific-wise, these may not necessarily translate immediately into the labour market and economy as a whole. Most economic production comes from agriculture, fisheries and light manufacturing, with the public service providing a majority of employment in the smaller nations. At this time, there need not be a push into AI without any sort of plan of succession. This upskilling in AI may suit self-employed people looking to freelance on their own.
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*An AI tool was used to add a layer to the editing process for this story.
