A recent survey conducted by the Conference Board has identified a notable disconnect between the integration of artificial intelligence (AI) in workplaces and the necessary workforce preparation for its implications. As organisations venture into the realm of AI technology, the focus among HR leaders appears to lean heavily towards experimenting with AI applications rather than prioritising the reskilling of workers who are most likely to be affected by the rise of automation.
In the survey, only 7% of Chief Human Resources Officers (CHROs) indicated that they have implemented reskilling strategies for jobs at risk of automation, particularly those where AI could automate at least 25% of tasks. Conversely, a substantial 62% of CHROs are engaged in pilot programmes and exploring use cases specifically within human capital management. Other areas receiving attention include the development of governance policies aimed at mitigating AI-related risks (36%), promoting AI literacy programmes (21%), addressing concerns related to potential job displacement by emphasising the benefits of AI (21%), and allocating resources to roles that specialise in AI expertise (20%).
Diana Scott, Leader of The Conference Board US Human Capital Center, expressed concerns regarding the current trajectory of workforce preparation. She stated, "Companies that fail to prioritise upskilling and reskilling risk being unprepared for AI’s demands. Reskilling now can secure a competitive edge," highlighting the critical need for organisations to invest in their workforce to adapt to the growing influence of AI.
Despite the increasing integration of AI technologies, overall confidence levels among CHROs regarding workforce management remain relatively stable. The Q4 2024 Confidence Index stands at 54, reflecting a minor decrease from the 55 recorded in the second quarter of the year. Hiring expectations have also shown signs of softening, with 37% of CHROs indicating plans to increase hiring in the upcoming six months, a reduction from 41% in Q2.
Retention expectations among organisations are varied, with 21% of CHROs predicting a drop in employee retention, while 34% foresee improvements in this area. Notably, optimism surrounding employee engagement is on the rise, with 42% of CHROs anticipating higher engagement levels as they approach 2025, a notable increase from 36% in Q2.
For employees, these findings underscore the necessity of proactive engagement in self-directed learning and skill enhancement. As organisations continue to prioritise AI governance and experimentation, workers, particularly those in roles that may be susceptible to automation, are encouraged to collaborate and adapt by developing new competencies to stay relevant in an ever-evolving job market.
Source: Noah Wire Services