ILX Group examines the steps businesses need to take to prepare for the future

Consulting and training company ILX Group has published new research that examines the AI ​​skills gap facing many cutting-edge industries today, the result of what it describes as staff shortages, supply chain disruptions, inflation and global uncertainty.

The findings, based on interviews with executives from a wide range of global companies, revealed that skills transfer is needed to optimize the hybrid workforce and keep up with digital advancements.

Research has shown that:

  • Hiring costs for skilled workers and managers can reach 150% of their salary. Investing in current employees is a much better option.
  • 41% of organizations have increased their learning and development budget in 2021, while almost half, 49%, plan to do so this year.
  • Training is considered a key differentiator (80%) for attracting top talent.

Russell Kenrick, managing director of ILX Group, said retraining professionals can help tackle the AI ​​skills gap and empower low-skilled workers to upskill.

The top rated skills by organizations are management and leadership (76%), big data analytics (75%), cloud (74%), project and program management (72%) and automation (70%). .

According to a statement released by the company, learning and development is key to post-pandemic success as organizations must keep pace with AI adoption: “AI capabilities are already going above and beyond. beyond what many could have expected. But to reap the efficiencies and benefits it can deliver, organizations and their workforces need to keep pace with advancement.

The company added that “given the unprecedented array of challenges facing businesses, the demand for management and leadership should come as no surprise. Dealing with crises requires having the right vision, implementing effective strategies, making the right decisions, setting the right examples and communicating the right messages at the right time.

According to Kenrick, the upskilling (or reskilling) debate is about roles that are leaving versus roles that are needed for the future.

“The real elephant in the room is the roles that go (due to AI today) are largely less skilled roles. Unfair, I know, but we’re seeing AI replacing store clerks, waiters, receptionists, and office administrators, and it’s a long journey for some of those workers to fill skill gaps like data scientists, digital marketers and IT professionals. But it is possible.

“Where it gets even scarier is when we see more AI and automation in what we call ‘professional’ roles, such as sales, customer services, and business support roles such as HR, learning, finance, legal, IT service centers, etc. It’s the reskilling of these people that will drive the growth of AI roles because the workflow is more complex.”

Organizations and their workforces, the statement said, must keep up with the speed at which AI technology is advancing, as its capabilities are “already extending beyond what many could have anticipated”.

“The reality is that artificial intelligence (AI) is already at work,” Kenrick said. “It impacts how we search, how we buy and even how we meet people. At ILX, we believe in demystifying AI. People have always been afraid of what they don’t understand, and this revolution is no different.

“Timing will be a factor, but either way, making AI accessible is key to engaging the workforce of the future.”

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