Despite concerns regarding economic uncertainty and recent environmental disasters, the DOL/BLS Labor Report released in February reported that January payrolls grew by 143, 000 and unemployment remained at 4%, the lowest rate in eight months and the continuation of a multi-year low unemployment rate. The skills shortage seen over the past few years, driven by driven by an aging workforce and a widening skills gap, is not coming to an end.
Artificial Intelligence (AI) has been touted by some as the solution to the skills gap and viewed by others as a career-ender. The truth lies somewhere in the middle. While AI can perform repetitive tasks to drive efficiency, human oversight is still required. According to ADP research, 17% of workers worldwide strongly believe AI will have a positive impact on their jobs, while 31% expressed fear that other professionals using AI would take their jobs. AI advocates see the greatest value when AI is being used as a decision-support tool rather than a final decision-maker.
A study conducted by the Pew Research Center found that 63% of American workers don’t use artificial intelligence much or at all in their jobs, with only 16% of respondents viewing AI as a major element of how they conduct work. Usage varies by occupation. Knowledge workers are more likely than others to think AI will help them on the job. A HireVue poll of more than 4,000 HR leaders and employees found AI adoption among HR professionals exceeds 72%.
AI adoption varies significantly across demographics. According to a Pew Research study, nearly three-quarters of respondents who regularly use AI are under the age of 50, and over half possess at least a bachelor’s degree.
Chatbots like ChatGPT and Copilot have significantly increased market awareness of AI. However, a Pew Research study found that more than half of workers rarely or never use AI chatbots. Among those who have used AI chatbots, the most common purposes are research, editing written content, and drafting written content. While four-in-10 of these workers say these tools have been extremely helpful in enabling them to do things more quickly, only 29% say they’ve improved the quality of their work.
AI, when applied as a decision-making tool, can result in significant productivity gains for professionals and the companies who engage them. AI applications can eliminate tedious tasks, enhance decision-making, and create new opportunities for workers.
When introducing AI-based tools, nextSource recommends the following considerations: