Reskilling in the Age of AI

The transformative influence of AI on our global economy is undeniable. As automation and intelligent systems reshape industries, the demand for new skills and competencies grows exponentially. Even tasks previously believed to be immune to disruption, like research, coding, and writing, are now seeing the impact of advanced technology. The lifespan of skills is decreasing, with many tech-related skills having a half-life as short as two and a half years. It's no longer a question if AI will impact jobs, but how. As millions potentially face the necessity to re-skill, corporations find themselves at the crossroads of this profound transformation. As a business leader, you can play a pivotal role in addressing this challenge:

·       Rather than viewing reskilling as a mandate or a peripheral training initiative, recognize it as a strategic necessity. This is in response to changing labor markets marked by an aging workforce, emerging roles, and company-specific skill requirements. Major corporations like Cognizant, Vodafone, and Amazon have begun strategically reskilling their workforce.

·       Instead of relegating reskilling to HR alone, it's becoming a collective responsibility. Make sure senior leaders, including CEOs and COOs, visibly support and champion reskilling efforts, drawing a clear connection between corporate strategy and reskilling initiatives.

·       Create an environment conducive to learning and adaptation. This means ensuring alignment with corporate strategy, recruiting the right candidates, and getting buy-in from middle managers. Reskilling initiatives should also be flexible, incorporating on-the-job learning.

·       While reskilling might seem daunting to employees, a significant percentage (68%) are aware of impending disruptions and are willing to reskill. Success lies in treating employees as partners in the reskilling process, designing programs from their perspective, and providing ample time for learning.

·       Lastly, reskilling is not just a company's internal challenge; it's an ecosystem-level endeavor. Governments, academia, NGOs, and other stakeholders all have roles to play. Companies can seek industry partnerships and collaborations with non-profits to facilitate effective and inclusive reskilling.

Synapse is a unique initiative by Cognizant that aims to train one million individuals with cutting-edge technology skills – like generative artificial intelligence for the digital age. Check the link in the comments section below to read a detailed Cognizant article on the Synapse program.

The journey of reskilling is not just about keeping pace with technology; it's about creating a future-proof workforce, prepared and adaptive in the face of inevitable change

#AI  #Reskilling #FutureSkills #GenerativeAI #AIInnovation  #AIForBusiness Kathy Diaz Cognizant