Quick intro
If you’re new to my work, my name is Lester, but feel free to call me Les. I’m a founder with a successful exit under my belt. These days, I’m the exec chair for a group of ecom brands, but at my core, I’m an award-winning performance marketer.
Key takeaways I got from the report
The report is very thorough and 290 pages deep, but I wanted to focus on the areas that are the most helpful for revenue and understanding the possible landscape.
1. Job creation and decline
So, the hot topic is whether AI will take our jobs. The answer is maybe, but you’ll probably have a new one. According to the WEF, a net 78 million jobs will be added by 2030. This includes 170 million new jobs created (14% growth) and 92 million jobs lost (8% decline).
2. New skills who this?
By 2030, about 39% of skills will be outdated or completely transformed. Honestly, it’s not shocking; it’s kind of expected. The fastest-growing skills are AI, big data, networks, and cybersecurity. What caught my attention was that the report mentioned soft skills like resilience, creativity, and flexibility, but I found it even more interesting that lifelong learning made the list. The report also noted that 70% of employers consider analytical skills the most essential.
3. Upskilling and reskilling
The report says that by 2030, 59% of the global workforce will need training. Of this, 29% will be upskilled in their current role, 19% will transition to a new role with additional training, and 11% will risk unemployment without it. The report also highlights that 85% of employers plan to prioritize upskilling, while 70% aim to hire talent with new skills.
4. Talent and workforce strategy
64% of employers will prioritize health and well-being to get new talent. I won’t lie; I’ll believe that one when I see it. The report mentions that diversity, equality, and inclusion initiatives have increased to 83% adoption globally. However, President Trump is rolling back some of these programs, raising questions about whether other countries and corporations will follow suit. It’s unclear how this will unfold. Nonetheless, wage alignment with a focus on productivity and talent retention will be key, with 52% of employers planning to allocate more revenue to wages by 2030. Again, I’ll believe it when I see it, but I’m hopeful.
5. AI’s impact on workforce
Alas, the juicy bit… Half of the employers plan to reorient business strategies in response to the rise of AI. In fact, 2 in 3 plan to hire for AI-specific skills (this is where the new jobs will come from). 40% of those same businesses also think their workforce will shrink due to AI automating tasks. On the surface, this might seem like doom and gloom, but remember, we are talking about 78 million new jobs by 2030. It is safe to assume some of that workforce will find employment in companies that don’t exist yet.
Your big opportunity
It is no secret that AI is supposed to be the next big thing. I believe this topic goes a lot deeper and I talk more about that here.
How to make the most of this opportunity with a step-by-step action plan
To get the most out of AI, you do not need to know the latest hacks or have access to some secret button or magic prompt. I believe the soft skills are where the money will be made, where you separate the wheat from the chaff.
Conclusion
In conclusion, the report highlights the need for upskilling, reskilling, and lifelong learning in the face of AI. It also underscores the importance of communication, imagination, and creativity in an AI-driven world. By focusing on these skills, you can position yourself for success in the years to come. Remember, AI is a tool, and it’s up to us to use it wisely.
FAQs
Q: What are the key takeaways from the report?
A: The report suggests that 78 million new jobs will be added by 2030, with the fastest-growing skills being AI, big data, networks, and cybersecurity. It also highlights the importance of upskilling, reskilling, and lifelong learning.
Q: What are the soft skills that will be in demand in the future?
A: The report mentions soft skills like resilience, creativity, and flexibility, as well as lifelong learning.
Q: How can I make the most of the opportunity presented by AI?
A: Focus on developing your soft skills, such as clear communication, imagination, and creativity. These skills will be in high demand in the future.
Q: What are the implications of AI on the workforce?
A: AI will likely lead to job losses, but it will also create new opportunities. The report suggests that 40% of businesses think their workforce will shrink due to AI, but 2 in 3 plan to hire for AI-specific skills.
