AI Job Takeover: Unlocking Growth and Productivity in the Digital Age

By
Dan Parton
-
0
2020
Worried employee looking at a robot taking over their job
Employees are concerned about the encroachment of AI on their job roles
As the digital revolution continues to gather pace, the spectre of artificial intelligence (AI) looming over job roles is becoming increasingly apparent. A recent report uncovers a potent cocktail of fear and anxiety among the workforce, as they grapple with the potential impact of AI on their livelihoods. Are we on the brink of a job takeover by AI? Should we be preparing for a future where robots and algorithms dictate our professional lives? Let’s dive into the details.
  • A recent report by Corndel reveals that 61% of employees fear AI will take over a quarter of their job functions by 2023, with 38% of the 18-34 age group believing AI will do at least half of their job within the next decade.
  • The UK has a significant data skills gap, with 92% of employees working with data believing this gap exists in their workplaces. Additionally, 82% of employees admit to having received no AI training, rising to 96% for those over 55.
  • The data skills gap is hindering business transformation, with almost half of senior decision-makers identifying it as a major obstacle. This trend indicates the UK’s struggle in the increasingly data-driven business environment.

The AI Job Takeover: Should We Be Worried?

As we delve further into the digital age, a new report reveals that a significant majority of employees are concerned about Artificial Intelligence (AI) encroaching on their job roles.

The AI Fear Factor

The strategic skills provider, Corndel, has conducted research that indicates a high level of anxiety about the role of AI in the workplace. Their findings show that 61% of employees are fearful that AI will take over a quarter of their job functions by 2023. Furthermore, among the 18-34 age group, this concern escalates with 38% believing AI will be doing at least half of their job within the next decade.

The UK’s Data Skills Gap

To compile this report, Corndel surveyed 300 senior data leaders and 1,500 employees who work with data tasks. Their research has brought to light a significant data skills gap in the UK. An overwhelming 92% of employees working with data believe this gap exists in their workplaces. Disturbingly, a hefty 82% of employees admit to having received no AI training, a figure that jumps to 96% for those over 55.

The Impact on Business Transformation

Almost half of senior decision-makers are convinced that this data skills deficit is a major hindrance to their business transformation. The Better Decisions, Realised Report by Corndel reveals that 32% of data professionals report a significant data skills gap in their organisation. This worrying trend points to the UK’s struggle to make progress in the increasingly data-driven business environment.

The Future of Work

Recently, Corndel and Imperial College Business School held a joint event showcasing an innovative visualisation tool, FOO.CASTR (Future of Organisations–Caster). This tool, developed by Imperial’s Associate Professor Dr. Mark Kennedy, allows organisations to model their future trajectory and the influence of advanced technologies, including AI, on their job roles.

The Downside of the Data Skills Gap

The data skills gap brings with it a host of risks and threats. These include reduced efficiency and productivity, an increased risk of errors and misinterpretation, increased stress levels among employees, missed growth opportunities, and limited problem-solving capabilities.

A Solution in Training and Development?

The report by Corndel suggests that the solution might lie in workplace training and development. Over half of those working in data roles (53%) believe that ‘on the job’ experience is key to bridging the data skills gap. However, 44% of employees feel a lack of allocated time for learning and skills development is a significant challenge.

Final Thoughts

James Kelly, CEO and co-founder of Corndel, warns that “many UK organisations are struggling to embed the data skills needed to fuel growth and drive performance”. He adds that “82% of employees have not had training in data, tech or any AI-based tools. This proportion rises to 96% for older workers over 55, which is a red flag for productivity and labour market participation”. David Brown, Director of Executive Education at Imperial College Business School, echoes Kelly’s sentiments. He believes that the report “highlights the need to blend hard and soft skills in the workplace”, and emphasises the urgency of investing in digital capabilities. As we move forward, it’s clear that training and development in AI and data skills need to be a crucial component of our response to the evolving workplace.

Key stats:

  • 92% of employees working with data think there is a skills gap in their workplace and Over ⅘ of employees (82%) have had no training in AI use
  • Nearly half of senior decision-makers believe that a lack of data skills is holding back their business transformation
  • 38% of 18-34 year olds think that AI will be doing at least 50% of their job by 2033. 61% believe it will take at least 25% of their job in the next ten years

FAQ

Q: What is the main concern among employees regarding AI in the workplace? A: The main concern among employees is that AI will take over a significant portion of their job functions. According to the research, 61% of employees fear that AI will take over at least a quarter of their job functions by 2023. Q: Who conducted the research on AI in the workplace? A: The research was conducted by Corndel, a strategic skills provider. They surveyed 300 senior data leaders and 1,500 employees who work with data tasks. Q: What did the research reveal about the data skills gap in the UK? A: The research revealed that there is a significant data skills gap in the UK. An overwhelming 92% of employees working with data believe this gap exists in their workplaces. Additionally, 82% of employees admit to having received no AI training, with the figure rising to 96% for those over 55. Q: How does the data skills deficit impact business transformation? A: Almost half of senior decision-makers believe that the data skills deficit is a major hindrance to their business transformation. The report by Corndel reveals that 32% of data professionals report a significant data skills gap in their organisation. This indicates the struggle the UK faces in making progress in the increasingly data-driven business environment. Q: What is FOO.CASTR and how does it relate to AI in the workplace? A: FOO.CASTR (Future of Organisations-Caster) is an innovative visualisation tool developed by Imperial’s Associate Professor Dr. Mark Kennedy. It allows organisations to model their future trajectory and the influence of advanced technologies, including AI, on their job roles. It was showcased at an event held by Corndel and Imperial College Business School. Q: What are the risks and threats associated with the data skills gap? A: The data skills gap brings various risks and threats, including reduced efficiency and productivity, an increased risk of errors and misinterpretation, increased stress levels among employees, missed growth opportunities, and limited problem-solving capabilities. Q: What solution does the report suggest for bridging the data skills gap? A: The report suggests that workplace training and development can help bridge the data skills gap. Over half of those working in data roles (53%) believe that ‘on the job’ experience is key to bridging this gap. However, 44% of employees feel that a lack of allocated time for learning and skills development is a significant challenge. Q: What is the opinion of James Kelly, CEO of Corndel, on the data skills gap? A: James Kelly warns that many UK organisations are struggling to embed the data skills needed for growth and performance. He highlights that 82% of employees have not received training in data, tech, or any AI-based tools. The figure rises to 96% for older workers over 55, which he sees as a red flag for productivity and labour market participation. Q: What is the opinion of David Brown, Director of Executive Education at Imperial College Business School, on the report? A: David Brown agrees with James Kelly’s concerns. He believes that the report highlights the need to blend hard and soft skills in the workplace and emphasizes the urgency of investing in digital capabilities. He sees training and development in AI and data skills as a crucial component of our response to the evolving workplace.

Editors view:

When we take a step back and look at the bigger picture, it’s clear that the UK is in the midst of a significant data skills challenge. Businesses are struggling to keep up with the rapidly evolving digital landscape, and employees, especially those over 55, are being left behind. The lack of training and development in AI and data skills is a ticking time bomb that can have serious implications for our productivity and economic growth. The report from Corndel is a wake-up call for all of us. It’s a clarion call to invest in our digital capabilities, to blend hard and soft skills, and to ensure that no one is left behind in the digital race. As we move forward, it’s clear that we need to prioritise training and development in AI and data skills. If we ignore this, we risk exacerbating the digital divide and missing out on the myriad opportunities that AI and data have to offer. It’s high time we face the AI fear factor 

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