Tampere
21 May, Tuesday
18° C

The library of essays of Proakatemia

Reskilling talents in the Age of AI



Kirjoittanut: Hassan Chakir - tiimistä SYNTRE.

Esseen tyyppi: Yksilöessee / 2 esseepistettä.
Esseen arvioitu lukuaika on 3 minuuttia.

Artificial intelligence (AI) is revolutionizing the workplaces, presenting new opportunities and problems to both employers and employees. AI may complement human talents, automate processes, and create insights, but it also necessitates the development of new skills, jobs, and methods of operation. In the era of AI, how can enterprises manage their talent and reskill their workforce?

Essentially, organizations must take a comprehensive, holistic, and human-centered approach to people management and reskilling, which entails five critical thinking and practice modifications, but we’ll go through only first 3 of them. These are the shifts:

  • 1 Reskilling is a strategic priority.
  • 2 Reskilling is the duty of every leader and manager.
  • 3 Reskilling is a change-management program.
  • 4 Workers desire to reskill—when it makes sense.
  • 5 Reskilling requires a village.

 

When the possibility of widespread job loss looms, businesses typically resort to reskilling projects to decrease the effect of job cuts, assuage social responsibility concerns, and build a good public relations story. However, some organizations are moving away from the narrow scope of this traditional strategy, seeing reskilling as a strategic requirement. Effortful reskilling enables businesses to rapidly build a competitive advantage by fostering talent that may not be readily available in the market and bridging critical skill gaps, critical to achieving strategic goals. Companies are increasingly understanding the strategic value of reskilling, which allows them to outperform competitors by cultivating a workforce that is responsive to changing industry demands.

Notable instances of big corporations employing this strategic strategy have surfaced in recent years. For example, Infosys has effectively reskilled over 2,000 cybersecurity specialists, enhancing their capabilities with a variety of complementary skills. Vodafone has set an aggressive goal of sourcing 40% of its software developer needs from inside the company through reskilling efforts. Meanwhile, Amazon, through its Machine Learning University, has converted thousands of employees who were previously unfamiliar with machine learning into knowledgeable specialists in the subject. These examples reflect a wider trend in which firms see the long-term importance of reskilling as a proactive approach for not only navigating disruption but also staying ahead in a continually dynamic business landscape. (Tamayo et all, 2023)

It is the role of leaders and managers to properly integrate AI into enterprises by aligning it with both a broad corporate goal and individual employee growth. According to Raffaella Sadun of Harvard Business School, this is critical to avoiding job loss and limiting options. While leaders do not need to understand every technical element of AI, they must identify appropriate use cases, articulate a clear plan for team reskilling, and harness AI (GenAI) to improve decision-making without giving up ultimate decision power. (Ignatius, 2023)

The “New World of Work” video series by Harvard Business Review explores these leadership challenges, featuring discussions with top executives on setting up companies for success amid technological advancements. (Ignatius, 2023)

Organizations must go beyond basic staff training when designing and implementing complete reskilling efforts; they must create a conducive organizational climate for success. To do this, both employees and supervisors must adopt the appropriate mentality and actions. In essence, reskilling is a change-management undertaking. Several crucial components should be considered in this regard (Tamayo et all, 2023)

Understanding the supply and demand dynamics.

Processes for effective recruiting and assessment.

Middle-management attitude development.

Developing abilities while remaining in the workflow.

Ensure a successful match and integration of reskilled personnel.

 

In redefining their approach to reskilling, companies now recognize it as an ecosystem challenge, extending beyond individual organizational efforts. Stakeholders such as governments, industry partners, and nonprofit organizations play pivotal roles in shaping the reskilling landscape. Governments can incentivize investments, industry collaborations foster innovative techniques, and nonprofits bridge gaps to diverse talent.

In navigating the era of AI and automation, companies can leverage this broader ecosystem through strategic industry partnerships and collaborations with nonprofits. These initiatives, exemplified by programs like the Technology in Finance Immersion Program in Singapore and partnerships with nonprofits such as Year Up, offer avenues to pool resources, address emerging skill needs, and provide inclusive opportunities for diverse talent. Teaming up with educational institutions further enhances reskilling efforts, allowing companies to adapt swiftly to technological shifts and evolving skill demands, as demonstrated by successful collaborations like the UK Institutes of Technology and BMW’s programs in Germany. (Tamayo et all, 2023)

In conclusion, companies embracing reskilling face hurdles in measuring effectiveness and scaling successful programs. To propel a reskilling revolution, a commitment to systematic learning and adaptability is crucial for navigating technological changes in the future.

 

 

Tamayo, J. Doumi, L. Goel, S. Sadun,R. Kovacs, O. 2023. Reskilling in the Age of AI. Harvard Business Review. Link: https://hbr.org/2023/09/reskilling-in-the-age-of-ai

Ignatius, A. 2023. How to Reskill Your Workforce in the Age of AI. Harvard Business Review. Link: https://hbr.org/2023/08/how-to-reskill-your-workforce-in-the-age-of-ai

Roslanky, R. 2023. Talent Management in the Age of AI. Harvard Business Review. Link: https://hbr.org/2023/12/talent-management-in-the-age-of-ai

Post a Comment