Released
The New Skills in Finance Report 2022
In a digital-transforming era, there is a widening skills gap for those who cannot adapt to the new digital world in finance.
CFTE and Elevandi published the report with the discussion with leading experts to help governments, organisations and individuals address the current skills gap in finance and build a digital-resilient workforce in the industry.
Key Insights
Key takeaways from "Augmented work for an automated, AI-driven world" report published by IBM
CFTE summarised “Augmented work for an automated, AI-driven world” report by IBM. This report explores the evolving landscape of the workforce in the era of AI and automation.
Key Aspects
- It emphasises the emergence of an augmented workforce, where human-machine partnerships amplify productivity and offer exponential business value.
- The report highlights the necessity for reskilling due to AI implementation and the transformation of traditional business models.
Table of Contents
- Introduction to the Augmented Workforce
- The Impact of AI on Workforce Skills
- Evolution of Operating Models in AI-Driven Enterprises
- The Role of Human-Machine Partnerships in Productivity
- Building New Skills and Talent Strategies for the AI Era
Key Findings and Insights
This report will give you an insight into:
- Transformation of the Workforce:
- The report highlights a significant shift where AI and automation are not just replacing jobs but also creating new ones. By 2025, it's predicted that 85 million jobs may be displaced, but 97 million new roles could emerge that are more adapted to the new division of labor between humans, machines, and algorithms.
- Reskilling and Upskilling:
- A major insight is the need for reskilling and upskilling. Approximately 40% of the workforce will require reskilling over the next three years. This reflects the changing nature of jobs and the new skills required to work alongside AI and automated systems.
- Decline in Importance of STEM Skills:
- Interestingly, the report notes a decline in the singular importance of STEM (Science, Technology, Engineering, and Mathematics) skills. Instead, there is an increasing demand for soft skills like adaptability, problem-solving, critical thinking, and interpersonal skills.
- Shift in Management and Operational Strategies:
- Successful organizations are adapting their operational models to accommodate these changes. This involves a strategic reorganization of work, focusing on enhancing productivity and fostering innovation through human-AI collaboration.
- The Changing Role of HR:
- Human Resources departments are facing new challenges in this AI-driven environment. Their role is evolving to focus more on managing the transformation of the workforce, ensuring continuous learning and development, and maintaining the well-being of employees in an increasingly automated world.
- Emphasis on Human-Machine Collaboration:
- The report underscores the importance of developing effective human-machine partnerships. The future of work is not about humans vs. machines but rather how humans can work alongside AI to achieve higher efficiency and create new opportunities.
Key infographics
Be AI-ready in this digital era
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