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120 Million Workers Need To Be Reskilled Due To AI, Says IBM Study

Tyler Durden
September 9th, 2019
ZeroHedge
Comments (8)

This article was originally published by Tyler Durden at ZeroHedge. 

Over the next three years, 120 million workers in the world’s 12 biggest economies may need to be retrained as a result of widespread adoption of artificial intelligence (AI) and automation in the workplace, according to a new IBM Institute for Business Value (IBV) study.

Only 41% of CEOs surveyed have the resources in place to close the skills gap brought on by new emerging technologies. That means 59% of the CEOs surveyed have no skills development strategies in place for their employees in the early 2020s.

“Organizations are facing mounting concerns over the widening skills gap and tightened labor markets with the potential to impact their futures as well as worldwide economies,” said Amy Wright, Managing Partner, IBM Talent & Transformation, IBM.

“Yet while executives recognize the severity of the problem, half of those surveyed admit that they do not have any skills development strategies in place to address their largest gaps. And the tactics the study found were most likely to close the skills gap the fastest are the tactics companies are using the least. New strategies are emerging to help companies reskill their people and build the culture of continuous learning required to succeed in the era of AI.”

The IBV study, “The Enterprise Guide to Closing the Skills Gap,” includes input from 5,670 CEOs located in 48 countries, points to challenges that companies will face in the early 2020s with managing their workforce through the technological shift.

IBM said, the “era of AI” will be a transformative period for the global economy as the skill gap through employee training will take time to close. The company’s study indicates new skill requirements for jobs will be required due to the fast pace of AI and automation adoption, while other skills become out-of-date.

The study lays out a guide for businesses to better foster talent and close the skills gap in a timely fashion.

IBM said companies could use AI to determine what skills are already available throughout their business and share that info with employees to drive a culture of “continuous learning.”

Last month, Tesla CEO Elon Musk said AI impact on the workforce could be devastating.

Musk said, “AI will make jobs kind of pointless.”

One of our reports from June describes how automation, engineering, energy storage, artificial intelligence, and machine learning have the potential to reshape the world in the next decade, could result in at least 20 million job losses across the globe.

There is no doubt that the collision of AI and automation in the workplace will trigger economic disruption far more significant than what was seen during the agriculture revolution (1900 to 1940) when farmers retooled their skills to work in cities in industrial factories.

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Author: Tyler Durden
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Date: September 9th, 2019
Website: https://www.zerohedge.com

Copyright Information: This content has been contributed to SHTFplan by a third-party or has been republished with permission from the author. Please contact the author directly for republishing information.

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8 Comments...

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  1. Clown World says:

    They want the fourth industrial revolution to be the intentional corruption of nature, in which it is fused with machine — eventually rendering the biological component obsolete.

    There is some discussion on taxing the robotic component — perhaps, into obsolescence.

    Assuming that the individual could be trusted with robotics, it would mean that mass production could be a cottage industry.

    Perhaps, the corporatists need to be reskilled.

    Too-big-to-fail, unwanted, corporate welfare industry has automatically assumed it was an adversarial situation, and no wonder why. They have imagined that the only outcome possible is for them to get so big, you are crowded out of existence. Manufacturing and govt buildings the size of small cities go abandoned, already.

    Consider leftist plans for energy and defense sectors in terms of Bible prophecy of grain rationing and war fought on horseback, with weapons made of wood.

  2. Clown World says:

    But, what if this nerdy children’s toy performed useful labor —
    (Age appropriateness was mainly supposed to be 7-9yrs.)
    (Similar products have been made in the shape of colorful bugs and building blocks.)

    “Using the intuitive functionality of Snap Circuits, young engineers get to build real, functional circuits that represent a variety of complex logic problems.

    Explore logic gates – Devices that make logical decisions based on the inputs of 0s and 1s (less volts and more volts).

    Then, bust your brain with the thrilling complexities of De Morgan’s Law, comparators, half adders, half subtractors, multiplexers, and more.

    By the time you’re done, you’ll be an engineer AND a logician in one!”
    “Mechanics, electronics, and gears… Young engineers get to explore the principles and possibilities of all three as they work their way through over 160 captivating circuitry experiments.”
    “Introduction to 3D Design & Printing for Kids”

    I knew a college-level robotics professor, who taught the fundamentals with lab equipment, not so different from these toys.

    People teach automated personalities to become verbal, from the comfort of their home, with minimal investment or education, and can render 3d shapes. Again, what if that was the source of your consumer products.

    “New strategies are emerging to help companies reskill *their people”

    The problem is with self ownership, not a dearth of modern skills.

  3. Kevin2 says:

    What happens when labor becomes largely obsolete and the eaters do in fact become useless?

  4. Stuart says:

    I remember the same hand wringing back in the late ’70s with regards to computers. Luddites are nothing new and IBM is irrelevant.

  5. rellik says:

    I have repeatedly opined about what do we do with the people we put out of work with automation?
    Most people cannot be trained in more technical skills.
    This new automation is nothing like an IBM XT computer.
    replacing your bookeepers and secretaries, so they could go on to write WEB site junk.
    It literally will put most “McDonalds” like workers out of work.
    Four people will be able to run a 10 section (6400 acres)wheat farm.
    Are you going to train those people that have lost their jobs, when all you need to do is hire a contractor, like me when you need it? At the end of the year you 1099 me. No hassles.
    Most this robot stuff doesn’t break all that often.
    Take a look at the average car these days, three hundred thousand miles is not uncommon anymore.
    Unless it is a custom job, nobody rebuilds engines anymore,
    you buy a factory engine.
    I could on and on.
    Simply we will need “nose to the grindstone” labor less and less, but brains more and more.
    Historically the human race isn’t really big on brains.

    • The Deplorable Renegade says:

      Rellik, starting in Oct. I’m going to work in one of the family-owned businesses and learning some new skills myself. And where I have to go is only 2 miles from the cabin. Hell, I’ve just been enjoying my ‘vacation’ time, LOL. I’ll still be doing labor, just something different. I’m still in good physical condition and still feel good. As long as I can I’ll still do something for a living. I’ve been active my whole life and still will be.

  6. Clown World says:

    A penny for a measure of wheat, it is written.
    Their penny was a denarion, the wage of a day laborer.
    The measure was a choinix, about a quart, or what would sustain a modest appetite for one day.

    Now, what are the solutions being presented to us, for automation, migration, and homelessness. Recommended daily allowances, a non-meat diet, and universal basic income, with Amazon-affiliated Whole Foods now scanning hand biometrics.

    Cyborgs, body modification, and rfid have been conflated with teenage rebellion. If that mark turns out to be a neat, cool, trendy microchip, imho, that number might possibly maybe act as the co-signer, as when you have to use two forms of ID, sometimes, now.

    If this all sounds too ridiculous, what is is more likely:
    — People studiously, responsibly choose to make their own things. Every last thing. Nobody says that you must. It just seems like a good idea. Every last thing.
    — You get a shot at a traffic checkpoint and use self-checkout, as the solution to automation taking your job.

  7. Freeillinois says:

    Big Tech has been saying for years there will be up to a 40% loss of jobs across most industries by 2025; its just no one is listening.

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