By 2025, 85 million jobs may be displaced, but 97 million new jobs may emerge that are more adapted to the new World of Work. Individuals need to re-skill and upskill to keep up with the changing demands of the new World of Work.
The world of work is changing rapidly at a breakneck pace, and the emergence of new technologies is playing a major role in this change. With it, the skills needed to succeed in the new world of work are also changing. According to the World Economic Forum's Future of Jobs Report, 50% of all employees will need reskilling by 2025 as the adoption of technology increases². Critical thinking and problem-solving top the list of skills employers believe will grow in prominence in the next five years². WEF estimates that by 2025, 85 million jobs may be displaced by a shift in the division of labour between humans and machines. But even more jobs – 97 million – may emerge that are more adapted to the new division of labour between humans, machines and algorithms².
To future-proof individuals’ ability to work, they will require new skills. Research by McKinsey Global Institute has explored the future of work in detail. This includes the kind of jobs that will be both lost and created as technology such as AI takes hold. The study shows that while the need for manual skills will decline, the demand for technological, social and higher cognitive skills will increase³.
Artificial intelligence is automating tasks that were once performed by humans, and this trend is only likely to continue. As a result, it is more important than ever for individuals to develop the skills and abilities that will make them employable in this new era. An individual's employability depends on a number of factors, including his or her education, skills, experience, attitude, and adaptability.
Let us look at these top employability skills needed in the new world of work, especially with the emergence of advanced technologies.
Critical thinking, and problem-solving: AI is good at following rules and executing tasks, but it is not as good at coming up with new ideas or solving complex problems. Humans, on the other hand, are naturally creative and resourceful. We can think outside the box and come up with new solutions to problems that AI may not be able to solve.
Communication and Collaboration: In the new world of work, teams will comprise people from different backgrounds and areas of expertise. To be successful, workers will need to be able to communicate effectively with their colleagues, both in person and through technology.
Creativity, innovation: and ideation: AI is good at following rules and executing tasks, but it is not as good at coming up with new ideas or solving complex problems. Humans, on the other hand, are naturally creative and resourceful. We can think outside the box and come up with new solutions to problems that AI may not be able to solve.
Resilience, Adaptability and flexibility: The world of work is changing rapidly, and new technologies and ways of working are always emerging. Workers who are adaptable and able to learn new things will be well-positioned for success in the new world of work.
Emotional intelligence: AI is not able to understand or respond to emotions. Humans, on the other hand, are naturally empathetic and able to build relationships with others. In the new world of work, workers who can understand and respond to emotions will be in high demand.
Digital competence: Employers increasingly seek candidates with digital literacy skills such as data analysis, coding, and social media management.
Leadership: The ability to inspire and motivate others, as well as manage teams and projects, is highly valued in many industries.
Time management and organisation: The ability to manage time effectively and prioritise tasks is important in any job, especially in a fast-paced work environment.
These skills demonstrate the need for humans to partner and work with AI rather than compete with it. They also emphasise the significance of lifelong learning and continuous training, and re-skilling to keep up with the changing demands of the job market.
In the new World of Work, having key employability skills as a graduate is highly important. By cultivating these skills, graduates can prepare for upcoming opportunities and challenges. The age of Artificial Intelligence has brought about a new world of work that can be both demanding and stimulating. It provides graduates with an opportunity to redefine their significance and contribution to society. Graduates can effectively prepare for this new era by developing their employability skills and competencies. This will ensure their readiness to prosper and succeed in the modern work environment.
Are you wondering about effective ways to develop these critical employability skills? Join Middle East College and head over to the Career Services and Entrepreneurship Office at MEC to access specific information on ways to develop these employability skills while studying at MEC.
Source:
(1) What are the top 10 job skills for the future? | World Economic Forum. https://www.weforum.org/agenda/2020/10/top-10-work-skills-of-tomorrow-how-long-it-takes-to-learn-them/ Accessed 22/03/2023.
(2) McKinsey: Which skills will be needed for the future of work? | World .... https://www.weforum.org/agenda/2021/06/defining-the-skills-citizens-will-need-in-the-future-world-of-work/ Accessed 22/03/2023.
(3) Here Are the Top 10 Job Skills for 2025 - PCMA. https://www.pcma.org/top-job-skills-2025/ Accessed 22/03/2023.
(4) Here's why the world of work urgently needs to put skills first. https://www.weforum.org/agenda/2022/03/work-skills-first/ Accessed 23/03/2023.
(5) World Economic Forum Skills of the Future Report Summary - LinkedIn. https://www.linkedin.com/pulse/world-economic-forum-skills-future-report-summary-darren-nerland Accessed 24/03/2023.