How AI is Changing the Global Labor Market and Skills Needed for Success

In today's rapidly evolving technological landscape, the rise of artificial intelligence (AI) is set to significantly transform the global labor market.

According to Karin Kimbrough, Chief Economist at LinkedIn, more than half of all jobs will be affected by AI by 2030.

Let's explore the impact of AI on the labor market and the skills professionals will need to thrive in this new era.

The Shift towards Skills-based Hiring

Over the past few years, there has been a noticeable shift towards skills-first hiring among employers. This change has democratized access to jobs and expanded the talent pool. In fact, nearly 20% of job postings in the US no longer require a degree.

AI skills, as well as complementary people skills, have been increasingly sought-after across various industries, both technical and non-technical. It is clear that people skills are more important than ever, with 92% of US executives acknowledging their significance.

Opportunities for Professionals

While AI will inevitably bring changes to the workforce and industries, it also presents new avenues of opportunity for professionals. As AI adoption continues to rise, the specific knowledge and skills required for job success will change.

Having a deep understanding of a particular industry will become less important, while knowing how to effectively apply AI tools and technologies will become increasingly valuable.

This means that professionals who are AI-literate and possess the ability to generate results using AI will have the freedom to move between roles, industries, or companies more easily.

The Importance of AI Literacy

To embrace this upcoming wave of AI-driven opportunities, professionals need to invest in themselves and develop the right set of AI and complementary skills.

However, according to a LinkedIn survey, less than half of the respondents have started experimenting with AI tools, and fewer than a third have taken online courses to understand AI.

It is crucial for professionals to tap into certification programs, online courses like LinkedIn Learning, and popular AI tools such as ChatGPT or Copilot for Microsoft 365.

Gaining a strong understanding of AI and its applications will enable professionals to capitalize on the potential that lies ahead.

The Role of Employers

Employers and business leaders also play a significant role in this transformation. They need to prioritize workforce learning and foster a training-to-promote mindset that encourages upskilling and expansion into new roles and functions.

Providing employees at all levels with access to resources to become AI-literate will not only benefit individual professionals but also drive productivity and unlock growth and revenue opportunities for businesses.

Conclusion

As AI continues to reshape the global labor market, professionals must adapt and acquire the necessary skills to succeed in this AI-enabled workforce. By staying informed about AI advancements, investing in relevant courses and certifications, and gaining practical experience with AI tools, professionals can position themselves as valuable assets in a world where AI plays an increasingly pervasive role.

Embracing AI literacy will not only enhance career prospects but also ensure a competitive edge in the face of ongoing technological evolution.