The Virtuous Circle of AI: Altering the Workforce, Driving New Training Demands & Delivering New Training Capabilities
You’ve probably seen a lot of news lately about how AI is on track to displace American workers. (For example, here, here and here.) But a new survey indicates that the role of AI is much more nuanced than recent news reports suggest.
Of the 1200 CEOs and top executives surveyed:
- 74% say they plan to use AI to automate tasks to a large or a very large extent in the next three years.
- Perhaps most interestingly, almost 100% plan to use AI to enhance, not diminish, their workers’ capabilities.
Additionally, Accenture estimates that:
- Employment could increase by 10% due to the increased need for human-machine collaboration that comes with implementing AI.
- Companies that are fully committed to AI and human-machine collaboration could experience an 38% boost in revenue over the next five years. Read more about how human-machine collaboration drives organizational effectiveness here.
AI Training Deficit
Despite the human and bottom-line impacting opportunities, only 3% of organizations plan to increase investment in training programs that would help employees work in tandem with machines within the next three years. Additionally, 58% plan to slightly increase training, and 39% plan to keep their training the same.
How will organizations implement AI if employees are not equipped with the necessary technical skills? How will their workers fulfill new job requirements and remain competitive within the evolving jobs landscape without technical reskilling?
AI-Powered Training as a Solution
Could AI-powered training be the answer to the conundrum of training for AI? Where employees need technical training to successfully collaborate with machines, and companies have limited training budgets, AI-powered training solutions provide the biggest bang for the training buck.
AI-powered training technologies can rapidly equip employees with the technical skills necessary to collaborate with machines. Al-driven learning technologies like ours:
- Leverage advanced algorithms to adjust content in real-time and present learning in microlearning chunks, so employees learn the new skills they need quickly and effectively
- Allow learners to move at their own pace, which has been shown to reduce training times by up to 55%
- Verify subject matter mastery, boost confidence and optimize performance, so employees make fewer on-the-job mistakes that result in financial loss and corporate risk (this partner discovered a 59% reduction in instances of error)
- Predicts the rate of knowledge decay and serves up time-spaced review assessments to boost knowledge and help employees remember the learning longer.
And because our platform can work with almost any type of content (e.g.: assessments, training documents, Camtasia and Adobe presentations, PowerPoint, videos, VR and AR, and more) it’s an easier, more cost effective AI-driven training option for L&D departments that need to do more with fewer resources.
For more thoughts about how adaptive learning can help reskill the American workforce, click here and here. Or if you want more information about how Fulcrum Labs can help prepare your employees for future AI technology-based demands, contact us directly