According to the World Economic Forum, half of the workforce will need to be reskilled by 2025, with 85 million jobs eliminated and 97 million new ones created. This shift emphasizes the importance of continuing education to meet current demands. How can artificial intelligence help address the skills shortage and support the changing work landscape?
The shortage of skilled workers in Germany
The shortage of skilled workers describes the problem of finding qualified workers for vacancies. In Germany, this problem has reached alarming proportions, as the latest DIHK specialist report shows. According to the survey of almost 22,000 companies by the German Chamber of Industry and Commerce (DIHK), more than half (53 percent) of the companies cannot fill their vacancies. This corresponds to a record value with a lost value creation potential of almost 100 billion euros, as the DIHK further reports.
The shortage is cross-sector, with 53 percent of all companies being affected by staff shortages. In particular, the manufacturers of electrical equipment, mechanical engineering and vehicle construction report that around two thirds of their positions cannot be filled. Health and social service providers are also particularly affected by staffing problems at 71 percent.
AI as the key to overcoming the shortage of skilled workers
In an online article, manager magazin reports that some companies, such as the workflow specialist ServiceNow, use artificial intelligence (AI) to bring people together with suitable career opportunities. ServiceNow’s acquisition of Hitch Works will leverage AI and machine learning to provide detailed insight into applicants’ skills, experience and interests. Managers can thus identify which employees are best suited for specific projects, and the intelligent system can specifically identify positions that match individual talents.
RiseUp, an upskilling program by ServiceNow, offers another way of using AI to address the skills shortage. RiseUp aims to link different professional development opportunities such as continuing education, certification and networking, thus bringing talent and companies together. The program stands out from traditional IT training by placing a special emphasis on so-called “power skills”. These include skills such as critical thinking and creativity, which are seen as the key to closing the digital skills gap, as manager magazin further reports.
ServiceNow’s overarching goal with the RiseUp program is to nurture a more diverse workforce. It is designed to help candidates learn the necessary skills they need for technical jobs. The program not only places value on technical skills, but also takes into account the development of holistic skills, which are becoming increasingly important in the modern job market, writes manager magazin.
Companies rely on these skills
Within the next five years, employers expect that 44 percent of employees’ previous skills will become obsolete. According to the World Economic Forum’s Future Jobs Report 2023, which surveyed over 800 companies, cognitive skills in particular are rapidly gaining importance as they reflect the increasing need for complex problem-solving in the work environment. Among the cognitive skills, creative and analytical thinking is becoming increasingly important. Technology competence is in third place among the fastest growing core competences.
Confidence in one’s own abilities is also of increasing importance, even more so than the ability to work together. Among the socio-emotional qualities that are gaining relevance are curiosity and lifelong learning, as well as resilience, flexibility, agility, motivation and self-awareness. Completing the list of the top ten growing skills are systems thinking, AI and big data skills, talent management, and a service and customer service orientation.
Editorial office finanzen.net
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