How AI is changing the labour market

It’s no secret that artificial intelligence (AI) has had a huge impact on the way we work. But just how drastic are these changes?

Well, according to a recent LinkedIn study, the rapid development in technology being witnessed, especially in the AI space, is accelerating workplace change significantly. So much so that an estimated 65 per cent of skills needed for jobs are expected to change by 2030.

“In Australia, the skills required for the same role has changed by a staggering 27 per cent, with it expected to change globally by at least 65 per cent by 2030,” commented Adam Gregory, senior director ANZ at LinkedIn Talent and Learning Solutions.

“This shift is being driven by the increasing integration of AI in the workplace. AI will reshape entire jobs, work functions and sectors.”

Clearly, people are seeing the writing on the wall, as there are reportedly 11 times more AI-skilled workers as of June 2023 than in January 2016. Similarly, there are 2.2 times more jobs posted that mention AI in the description in the same period.

Skills may need to adapt to keep up with this change, and there are a few that could become increasingly important. According to the HR professionals surveyed, the top four soft skills that will become more relevant as AI is implemented are:

1. Adaptability and relevance (60 per cent)
2. Problem solving (57 per cent)
3. Strategic thinking (56 per cent)
4. Time management (54 per cent)

Strategy may need to be adjusted to cater for this change. Leaders seem to recognise this, as 88 per cent of Aussie recruiters claim their role has become more strategic in the last year.

While persisting talent shortages surely play a role in these opinions, it’s important to note the dramatic changes AI will bring to processes. In fact, 80 per cent of HR professionals across the world believe AI will help in their roles over the coming five years. Meanwhile, 47 per cent of Aussie HR professionals already use AI in their role.

One major area that AI has become an assistant in is career development. Companies are now able to help guide their workforce using AI. This has many excited, with 49 per cent of Australian workers keen to use AI to progress their careers.

Employees and employers alike may benefit by ramping up their AI skills development. Many are already doing so, with Udemy noting that AI has seen a 95 per cent popularity increase on the platform. ChatGPT has also seen a 146 per cent surge among Aussie users.

“Generative AI and tools like ChatGPT are redefining the ways we can use technology to innovate and navigate the working world. As artificial intelligence continues to advance and flourish, it is accelerating the automation of various tasks – advancing research, solving seemingly impossible problems, redefining collaboration between humans and machines, and more,” said Udemy instructor Peter Alkema.