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How generative AI and upskilling are reshaping the workforce of tomorrow

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The future of work is rapidly evolving, driven by advancements in generative AI, the urgent need for workforce upskilling, and a renewed focus on human-centric innovation. As technology continues to reshape industries, businesses must adapt to remain competitive in an increasingly digital and dynamic landscape. Generative AI, with its ability to enhance productivity and creativity, is revolutionising how organisations approach problem-solving and innovation. At the same time, the skills required to thrive in this new world are shifting, with upskilling becoming essential for employees to stay relevant. Alongside these technological shifts, there is a growing recognition that fostering a human-centered organisational culture is crucial for long-term success, emphasising empathy, collaboration, and adaptability in an AI-driven world.

At the EuroFinance International Treasury Management 2024 in Copenhagen, Claudia Olsson, founder and CEO of Stellar Capacity and a Young Global Leader alumna at the World Economic Forum, shared how these changes will impact organisations, people and jobs in the next decade.

Generative AI: a game-changer

“Generative AI has the potential to unlock immense productivity and enables us to do in as little as thirty minutes what used to take one day or even one week,” said Olsson. She elaborated on its ability to revolutionise creativity and entrepreneurship, enabling users to generate ideas, design websites, create logos, and develop marketing strategies with unprecedented efficiency. Citing a study from Wharton where Generative AI output was compared to the output of ideation processes by students, she noted, “Ideas generated by systems like ChatGPT have even been shown to sometimes have greater business potential than those generated by humans.”

This aligns with findings from the JLL Future of Work survey, which underscores the importance of adopting advanced AI tools to enhance operational efficiency and drive innovation. Moreover, according to the World Economic Forum’s 2024 trends, AI is also expected to revolutionise personalisation across industries, allowing businesses to tailor solutions and customer experiences in ways never seen before.

The same report highlights that despite AI’s capabilities, it’s crucial for businesses to focus on the integration of human judgment and ethical considerations when leveraging such technologies.

Upskilling and preparing the workforce for future

Olsson stressed the urgency of workforce transformation: “About 44% of core skills will be disrupted by 2027, and nearly 76% of professionals recognise the need to learn AI in order to stay competitive.” Yet, only a quarter of companies are actively planning AI training programs. To address this, she advocated for a modernised approach to learning, likening it to the “computer driving licences” of the past that equipped employees with essential digital skills.

The World Economic Forum (WEF) also underscores the importance of continuous reskilling, especially in the context of rising automation and AI. It projects that while AI will create new job opportunities, the skills required will be dramatically different from today. As a result, businesses must prioritise not just technological training, but also fostering “human skills” such as adaptability, emotional intelligence, and ethical leadership.

Olsson emphasised the role of “power skills”—a rebranding of soft skills—as critical for navigating this change. “Curiosity, analytical thinking, and lifelong learning are no longer optional; they are foundational for success in the digital economy,” she asserted.

Moreover, the WEF’s 2024 trends show that employers are increasingly looking for a balance of technical proficiency and interpersonal skills, driving a new focus on blended learning programs that combine hard and soft skills.

Human-centric innovation

“We need to ensure that technology serves humanity, not the other way around,” Olsson emphasised, advocating for a balanced approach to technological integration. She highlighted the role of empathy and emotional intelligence in fostering collaboration and innovation, suggesting that these qualities could even be enhanced using AI and virtual reality training tools.

The WEF echoes this sentiment, stressing that human-centered design will be the cornerstone of the organisations of the future. As work becomes more hybrid and decentralised, leaders are increasingly expected to foster inclusive cultures, prioritise well-being, and enable workers to navigate technology’s impact on mental health.

Olsson also pointed out that building networks and embracing decentralised decision-making within organisations are key to future success. “Prof. Robin Teigland, a member of Stellar Capacity’s faculty, is a seasoned researcher of decision-making and networks in large organisations, and she teaches in our programs that in today’s dynamic work environment, only about 10-15% of decisions are made in the context of an organisation’s formal organisational structure” she noted. Instead, decisions are often made in the context of the informal networks that cut across formal structures and silos, and in this context, successful employees are those who proactively build their own networks that can quickly adapt to emerging needs.

Bridging technology and humanity

Olsson concluded with a call to action for businesses and individuals alike: “We must design our organisational narratives based on where we want to go, not where we come from.” By embracing curiosity-driven strategies and investing in upskilling, organisations can harness the transformative power of generative AI while ensuring a human-centered approach to innovation.

The workplace of tomorrow demands adaptability, collaboration, and a renewed focus on human potential. Olsson’s insights serve as a powerful reminder that while technology may be the catalyst for change, it is human ingenuity and resilience that will ultimately shape the future of work.