Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: From intent to action: the leaders’ guide to building AI-powered workplaces – Report | Economist Impact in Simple Termsand what it means for users..
Introduction: building AI-ready workplaces
As organisations move from experimentation with AI systems to enterprise-wide deployment, leaders increasingly recognise that technology alone will not determine success. Forwardthinking firms are building workforces that are able to adapt, learn and evolve alongside technology.
Over the next five years, the global labour market is expected to see 170m new jobs created and 92m displaced, with a net gain of 78m roles. Between 2018 and 2023 demand for AI-related roles grew by 21% as a share of total job postings. At the same time, references to university degree requirements for these roles declined by 15%, signalling a shift toward valuing practical, demonstrable skills over traditional credentials. Positively, this transition could improve workforce inclusivity. AI could, for instance, reduce the barriers to entry in technical roles like coding, allowing more diverse participation. It can also democratise access to technology skills in the wider workforce. To keep pace, many organisations are incentivised to invest more in their existing teams. “Organisations need to look inward,” says Kian Katanforoosh, co-founder and chief executive officer of Workera, a skills intelligence platform. “We can’t afford to wait five or ten years for the talent shortage to ease or for the talent pool to grow enough that people come to us. Focus inward, and maximise the potential of your existing employees.” Michael Priddis, founder and former chief executive officer of Faethm AI, agrees. “It’s not about hiring vast numbers of new people,” he says. “It’s about augmenting and incrementally improving the productivity of the people you already have.”