Global investment in AI has surged over the past decade, with a Stanford University analysis finding that mergers and acquisitions, minority investments and public offerings totaled $934.2 billion from 2013 to 2022.
Looking a bit deeper, a new report by Pluralsight, the technology workforce development company, reveals a widening chasm between booming investments in AI and the workforce's preparedness to utilize it effectively. Titled "The Gap Between AI Investments and Worker Readiness," the report paints a startling picture of organizations rushing headlong into AI adoption while neglecting the crucial element of upskilling their employees.
While 92% of respondents reported accelerated AI initiatives within the past year, a concerning disconnect emerges when examining employee skillsets – 90% of executives confessed to lacking complete understanding of their teams' AI proficiency.
This lack of awareness spills over into concrete ramifications. Despite overwhelming agreement that skilled teams are essential for successful AI implementation, only 40% of organizations have formal AI training programs in place. This leaves employees feeling ill-equipped and apprehensive. More than half of IT practitioners expressed concern about potential job displacement due to AI, reflecting a widespread sense of uncertainty and insecurity.
The report also uncovered the need for AI literacy beyond technical expertise. Nearly three-quarters of IT professionals fear rapid obsolescence of their current skillsets due to AI advancement. This highlights the importance of fostering broader understanding of AI concepts and principles across all organizational levels.
"AI is transforming the way that business is done, but many companies are behind the curve when it comes to preparing and training their employees for AI because they don't understand the skills that are needed to deal with AI effectively," said Aaron Skonnard, CEO and co-founder of Pluralsight. "This all points to the critical need for companies to take a more active role in developing the skills of their current workforce."
The report offers several actionable recommendations for bridging the AI skills gap. These include:
- Conducting thorough skills assessments: Understanding current employee capabilities is crucial for tailoring effective training programs.
- Prioritizing AI fundamentals: Building foundational knowledge across the organization, regardless of individual roles, fosters collaboration and a more receptive environment for AI adoption.
- Investing in robust upskilling programs: Providing flexible and accessible training opportunities is essential for employees to navigate the changing landscape.
- Fostering a culture of continuous learning: Creating an environment that encourages ongoing skill development is key to keeping pace with the rapid evolution of AI.
Only by prioritizing upskilling and fostering a culture of continuous learning can organizations get the most out of AI while ensuring their employees remain not just employed but empowered and happy.
