AI Causing Disconnect in Employer-Employee Priorities
40%: That's what Singapore executives believe is the percentage of their workforce that needs reskilling because of AI and automation adoption in the next three years.
The data comes from a new IBM Institute for Business Value study, Augmented work for an automated, AI-driven world. It noted that all levels of employees are now feeling the effect of generative AI.
For example, 77% of U.S. executive respondents from multinational companies said entry-level positions already see the effects of the technology compared to only 22% of those surveyed reporting the same for executive or senior management roles.
Meanwhile, executives in Singapore felt that the availability of external skills and building new skills for existing talent rank the first and second most pressing issues. Respondents also said they preferred to invest in reskilling (62%) instead of hiring from the outside (38%).
With AI primed to take on more manual and repetitive tasks, 46% of employees surveyed in Asia Pacific felt that engaging in impactful work is the top factor they care about beyond compensation and job security as AI takes on more manual and repetitive tasks. They ranked this factor more important than flexible work arrangements, growth opportunities and financial equity.
Yet, employers don't seem to acknowledge this fact. In Singapore, executives surveyed ranked impactful work as the least important factor to their workforce. They seem more fixated on work arrangements, pointing to flexible work arrangements and clear performance metrics as the highest attributes beyond compensation and job security.
“Generative AI is driving massive shifts in employee roles and skills, especially those in entry-level. The focus on skills is, however, not enough as true progress requires reimagining work itself,” said Lai Yee Ng, manager partner of IBM Consulting, Singapore.
The study also provided recommendations for how leaders can address their talent challenges in the era of AI. These are meant to help companies transform for the future, including a focus on skills and operating models.
"The enterprise of tomorrow cannot run with yesterday's talent, and it's time to prepare the workforce for new applications of AI. Combining human expertise and knowledge of complex business processes with AI tools will enable companies to create new opportunities and accomplish business outcomes faster than before," Ng added.
Image credit: iStockphoto/GaudiLab
