AI to necessitate major re-skilling of workforce

With a growing number of firms turning to artificial intelligence to cut costs and ramp up productivity, the business world is in danger of overlooking the need to up-skill today's workforce for the labour of tomorrow. According to a new report, while many firms find that technology creates more work than it replaces, it is work that can only be fulfilled by workers with a higher level of training than many currently have. The continued march of innovative new Artificial Intelligence (AI) has brought with it the potential for improved efficiency of resources, heightened productivity in manufacturing, and even the potential for low-cost medical care in the developing world. However, not all the effects of the new AI revolution are thought of in positive lights – it is set to spark a major realignment of the labour market, and it is unlikely to be as black and white as being a simple increase of decrease of jobs being available. While some outlying analysis suggests that at current growth rates, AI will only create as few as 19% of the jobs lost due to its implementation, AI is often forecast to necessitate more new jobs than the old ones it replaces.