5 stories to rethink talent

We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.?

1. AI for All

While AI will reshape the nature of work, it will do so in a way that makes DEI (Diversity, Equity, and Inclusion) both a baseline expectation and a critical requirement for companies seeking long-term growth. Nearly two-thirds (65%) of CEOs surveyed for the 2023 EY CEO Outlook Pulse Survey saw the technology as a force for good. Yet AI cannot be a force for good if it serves to exacerbate existing inequalities in the workplace and society more broadly. If companies are to use automation to its maximum potential, they need to think carefully about who is going to benefit from the new roles and career opportunities that the technologies will inevitably create. AI can fulfill its potential and avoid perpetuating discrimination only if there's an equilibrium between automation and DEI. DEI must be a foundational expectation, ensuring that AI benefits all user demographics. A people-centered AI transformation is imperative for its success in fostering fulfilling and impactful lives. Businesses must focus on designing and developing AI systems that empower all their users in these 3 ways...?

3 Ways to Embed DEI Into Your Company’s AI Strategy ?

2. Become AI experts, one prompt at a time

Only 17% of employees and 22% of employers prioritized generative AI (GenAI) skill training in 2023, according to a recent EY study . And that’s despite 84% of employers and almost half (49%) of global employees using GenAI at work. So how exactly do you bring everyone up to speed? There’s no one-size-fits-all approach to introducing AI technology enterprise wide. But EY teams have a lot to share from advancing AI capabilities across 150 countries worldwide. Firstly, employee attitude toward uptake is key; it’s vital to share the many career opportunities AI can bring. Today, there are more than 70,000 EY technology professionals ranging from data scientists to AI engineers, product managers and developers. EY people can now also now augment their potential through accessing a whole new slate of AI tools, including an AI assistant EYQ. And EY.ai , a unifying platform being used to deliver AI-powered solutions to clients. On top of fostering an AI-curious culture, employees also need to know how to use AI effectively. That’s where the EY Badge program comes in...? ?

The AI moment is now: how businesses can ready their workforce ? ? ?

3. Commuting to the office... for video calls?

Workplace expectations and policies have been in flux for almost three years. During this ‘seesaw’ time, employees at all levels have made new arrangements for children, aging parents, pets, spouses’ schedules and budgets. So business leaders are now taking steps to ensure time is well spent for those making the trek into the office — not for more videoconference calls, but for live interaction and creative collaboration. “C-level executives want people back in the office at a very high percentage,” says Greg Schementi, President of global corporate real estate company Cresa. “They became a CEO managing people in the office. It’s just who they are.” Greg adds: “When you ask the people who are actually the frontline people that are doing the work, they want much more flexibility, much more remote work, and then you put the middle manager between the CEO’s mandate and the people they are trying to manage.” Leaders need to listen, clarify the “why” of a mandated return to the office, define a schedule and then stand firm. There are sound reasons for employees to rejoin a collective workspace, at least some of the time...?

3 questions to ask about return-to-office plans ?

4. The Human Advantage?

As exciting as generative AI may be in reimagining work, its potential can only be realized by the people who use it. Organizations are gearing up, with 84% planning to implement GenAI by the end of 2024, amplifying efficiency sans replacing human ingenuity. This shift is not about eliminating jobs, instead enhancing job functions, as 23% of roles evolve with AI and machine learning specialists at the forefront. Businesses must be prepared to maximize the technology for their clients and their employees, while keeping people at the center. As GenAI reshapes our professional backdrop, personal technology habits influence workplace expectations. There isn’t a one-size-fits-all approach to technology adoption. Leaders who recognize this will have a more positive influence on the employee experience when integrating AI in the workplace. The work experience of tomorrow will be defined by thoughtful implementation — a people-first attitude paired with an embrace of the digital era — crafting a future where technology and humanity are partners in progress...?

How artificial intelligence can augment a people-centered workforce ?

5. GenAI-rational Impact?

Job creation, job displacement and job transformation, all potential consequences of GenAI. Generative AI promises to transform labor markets by automating tasks and creating economic opportunities, even as it poses risks of job displacement. What exactly will the impact of GenAI on the labor market entail? The impact of GenAI on job roles will vary across industries, automating mundane roles and allowing for a focus on complex tasks, which will ultimately affect higher-wage jobs the most. Higher-wage occupations tend to have a greater exposure to AI, highlighting the nuanced relationship between GenAI exposure, advanced skills, and salaries. The integration of GenAI in the workplace underscores the need for strategic planning and resource investment to maximize its positive impact while mitigating displacement risks. A customized GenAI strategy relies on both understanding labor dynamics and enhancing tasks with AI to complement human work, rather than replacing it. This approach, with a focus on workforce empowerment and operational optimization, paves the way for sustainable growth in an AI-driven future...?

How GenAI will impact the labor market

If you do one thing:?

Put people first.??

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