Reskilling is going to define the return to work. There is untapped value in building an internal pipeline of talent. Internal promotions and referrals are the preferred source to fill open jobs. The cost to hire, time to hire, and performance benefits are well documented. Their domain knowledge comes with them into the new role.

While many people think of automation as the biggest threat to human labor, X Prize founder and executive chairman Peter Diamandis says that artificial intelligence will be more crucial than people realize to reskill workers on the other side of the Covid-19 crisis. Reskilling was already important for workers to keep pace with advances in technology, and the pandemic has heightened the need to upskill the labor force. "Covid-19 hits, and there's another asteroid impact, it hits the playing field so much, any companies that are teetering on being a decent market product fall apart, people start losing their jobs in old school industries, and so rapid reskilling is really about addressing both the exponential tech impact on our job market and also on Covid-19. We need a means by which all of us are able to continue to upskill what we do," said Diamandis, speaking at a recent CNBC @Work livestream. The speed of reskilling will pick up as well, according to the futurist, who launched a competition called "Rapid Reskilling," which has offered a $5 million to teams which create solutions to quickly reskill under-resourced workers.

The tech talent shortage has CIOs scrambling to ensure that employees brush up on the latest skills and technologies that facilitate business agility. A lack of skills and resources has been either the No. 1 or the No. 2 obstacle to achieving organizational objectives, according to the past four annual Gartner CIO surveys. "Strategic workforce management has changed drastically in the past 10 years, and the complexity is only increasing as the labor market tightens," says Gartner analyst Alex Johnston. "Organizations are competing for skill sets that were previously unheard of but are now in extremely high demand." With digital business moving faster than organizations can keep up, CIOs need to do something different to get a different result.

The need for reskilling and retraining due to the impact of artificial intelligence (AI) and automation technology will be massive, affecting more than 120 million workers across the world's 12 largest economies, according to IBM's Institute for Business Value. In a report entitled The enterprise guide to closing the skills gap, the institute indicated that while only 41% of employers have the required people, skills and resources in place to execute their business strategies effectively today, the situation will only get worse as demand for new – particularly soft – skills continues and expertise focused around repetitive, rules-based activities becomes progressively obsolete. "By 2030, the global talent shortage could reach more than 85 million people," the study says. "To be clear, the issue is not a shortage of workers, but a shortage of workers with the right skills." To make matters worse, although the so-called "half-life" of professional skills was formerly estimated at between 10 and 15 years, the half-life of a learned skill today is estimated to be a mere five years, and is potentially even less for technical expertise. So skills learned now will only be half as valuable in five years' time, which means that finding ways to continually update and refresh them will become an increasing imperative.

Artificial intelligence has replaced many skills in recent years – including the skills needed to do some human jobs. The tech revolution has not gone unnoticed by American workers. A 2018 Gallup poll revealed that 70% of Americans believe AI will eliminate more jobs than it creates. Democratic presidential candidate Andrew Yang has sounded the alarm, raising the prospect that millions are at risk for long-term joblessness. I'm an expert on labor markets in the U.S., and I believe that AI will undoubtedly change the future of U.S. labor--but Yang is also exaggerating the impact AI will have on the workforce.

Artificial intelligence has replaced many skills in recent years – including the skills needed to do some human jobs. The tech revolution has not gone unnoticed by American workers. A 2018 Gallup poll revealed that 70% of Americans believe AI will eliminate more jobs than it creates. Democratic presidential candidate Andrew Yang has sounded the alarm, raising the prospect that millions are at risk for long-term joblessness. I'm an expert on labor markets in the U.S., and I believe that AI will undoubtedly change the future of U.S. labor – but Yang is also exaggerating the impact AI will have on the workforce.

Artificial intelligence has replaced many skills in recent years – including the skills needed to do some human jobs. The tech revolution has not gone unnoticed by American workers. A 2018 Gallup poll revealed that 70% of Americans believe AI will eliminate more jobs than it creates. Democratic presidential candidate Andrew Yang has sounded the alarm, raising the prospect that millions are at risk for long-term joblessness. I'm an expert on labor markets in the U.S., and I believe that AI will undoubtedly change the future of U.S. labor – but Yang is also exaggerating the impact AI will have on the workforce.

Of late, recent news indicates that automation, especially on warehouse floors will cut down jobs. For now, it seems that these technologies have opened doors and opportunities to various job roles. According to sources, the Indian IT industry is expected to add around 2.5 lakh new jobs in 2019, further contributing to the growth of the sector. Areas where an uptake in hiring is expected are computer, mathematical, architecture and engineering-related fields. Currently, some of the prominent roles in demand are software developers, information security analysts, machine learning, mobility, cloud engineer, DevOps, network analyst, data scientist, data analyst, and cybersecurity experts.

Emily He, senior vice president, Oracle HCM Cloud shares her thoughts on reskilling employees for their AI promotion. It's easy to be impressed by artificial intelligence's significant role in simplifying and streamlining work. It's the same reason many are afraid of AI: Will it lead to fewer jobs and human interaction? These fears are pervasive, but the reality is that when harnessed appropriately, AI does the exact opposite and (as counterintuitive as it may sound) can actually make work more human. Yes, artificially intelligent solutions can automate mundane tasks, save time and resources, and cut costs.

In this post, you will learn about the concept of R-Squared in relation to assess the performance of multilinear regression machine learning model with the help of some real-world examples explained in simple manner. Once we have built a multilinear regression model, the next thing is to find out the model performance. The model performance can be found out by calculating the value of the Residual Standard Error (RSE) or the value of R-Squared. Residual Standard Error can be defined as the difference between the mean value of the prediction made by the model and the population mean value. In this article, we will learn the technique of evaluating the model performance using the value of R-Squared. Let's take an example of a real-world scenario where we went out for shopping some sarees, for upcoming festival, with our Grandma.