- Recent surveys indicate a growing trend among companies to increase investment in artificial intelligence (AI) technologies. However, a significant challenge they face is the scarcity of skilled professionals to support their IT initiatives effectively.
- While concerns persist among employees regarding the potential replacement of jobs by AI, the primary obstacle hindering organizations from fully embracing new technologies is the insufficient availability of internal technical expertise.
The expanding influence of artificial intelligence in the corporate sphere is causing apprehension on both ends of the job market spectrum. Surveys have revealed that the majority of businesses are planning to escalate their expenditure on AI, yet workers might be better served by focusing on enhancing their skills to align with AI advancements rather than fixating on the fear of job displacement.
Companies are increasingly recognizing AI as a critical focus area and a significant budgetary consideration. According to a survey conducted by Infosys among over 1,000 senior executives in the U.S., a majority expressed intentions to boost their investments in AI, with 68% specifically aiming to increase spending on general AI.
Conversely, an EY survey in December targeting 1,000 U.S. employees familiar with AI highlighted that 75% harbor concerns about the potential obsolescence of certain jobs due to AI. Furthermore, approximately two-thirds of respondents expressed worries about AI replacing their own positions.
Despite the apprehensions surrounding workforce adaptability to technological advancements, companies are augmenting budgets for training and upskilling. Anant Adya, the executive vice president of Infosys Cobalt, emphasized the critical need for a holistic approach that addresses both workforce anxieties and the necessity for companies to acquire the right talent to retain competitiveness.
As AI integration progresses within enterprises, the restructuring of training programs becomes imperative to bridge the gap between AI-related fears and actualities, ensuring the availability of requisite talent for sustained success.
Moreover, it is crucial to acknowledge that with AI’s full integration, younger generations may lack hands-on experiences in traditional workplace tasks as automation takes precedence. Organizations must proactively strategize to nurture and enhance employees’ skills and careers amid AI-driven transformations.
In addressing the technology talent shortage, educational institutions play a pivotal role in equipping younger generations with essential skills before entering the workforce. The surge in AI degree programs underscores the increasing emphasis on cultivating expertise in this domain.
While the full extent of AI’s impact on existing roles remains uncertain, technological evolution is inevitable. Embracing new skills and adapting to evolving roles is essential to leverage the potential of AI effectively in the professional landscape.
