IBM delves into the profound impact of generative AI on the workforce and lays out an actionable plan for HR leaders. The IBM Institute for Business Value (IBV) conducted a global study, highlighting challenges faced by business leaders, such as the skills gap, evolving employee expectations, and the necessity for new operating models.
The study indicates that executives foresee 40% of their workforce needing reskilling due to AI and automation in the next three years, potentially affecting 1.4 billion individuals globally. Entry-level employees are poised for the most significant impact, with 77% of executive respondents noting changes already occurring. However, only 22% report similar effects in executive or senior management roles. Executives believe AI will augment rather than replace employees, with 87% expressing this sentiment. The impact will vary across functions, with varying degrees of belief in augmentation for roles in procurement (97%), risk and compliance (93%), finance (93%), customer service (77%), and marketing (73%).
While employees prioritize meaningful work over flexibility and growth opportunities, there is a disconnect with leaders' perceptions. The study reveals that executives consider impactful work the least important factor for employees, emphasizing flexible work arrangements instead. Given the evolving landscape, HR leaders are urged to take proactive steps to navigate these changes effectively. IBM recommends actions such as redesigning work processes using tools like process mining, investing in talent development alongside technology, making skills a focal point of workforce strategy, and empowering employees in the transformation process.
In the dynamic landscape of AI-driven transformations in the HR realm, White Label Advisors stands out by seamlessly incorporating a human touch into the fast-paced world of technology. As AI reshapes the workforce, our firm understands the critical importance of a balanced approach that values the unique capabilities of both technology and human expertise. We pride ourselves on offering a distinctive blend of AI solutions and a personalized touch, ensuring that the implementation of technology is guided by a deep understanding of human needs and aspirations.
Moreover, at White Label Advisors, we go beyond the conventional by providing proprietary leadership training programs designed to enhance skills and cultivate a holistic human-centric approach. Our commitment lies in empowering HR leaders to navigate the AI revolution with confidence, fostering a workplace environment that not only embraces technological advancements but also nurtures the human element integral to organizational success.