Future of Work
Your weekly CogX briefing on HR tech, automation, and the workplace
The week's developments on automation & the workplace, explained | 9.10.23
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While AI threatens to replace many jobs, it seemed to be a fair assumption that CEOs were safe from the rise of automation. However, new research reveals an interesting twist: CEOs are considering replacing their own roles with AI. Is the modern CEO role coming to an end?
Amidst the growing demand for AI skills in the workplace, MIT expert Anant Agarwal highlights one essential skill he thinks everyone should have in their toolkit. Meanwhile, over 150 million jobs will be taken up by baby boomers by 2030. But few companies are taking meaningful steps to support multi-generational workforces.
Explore these topics — and the latest details on how hybrid work is ‘killing’ the traditional office, AI's impact on HR practices and the cost of automating jobs — in the CogX Must Reads.
—Charlie & the Research & Intelligence team
P.S. Did you miss some of the sessions at the festival? The CogX Festival 2023 is now available on demand! Watch inspiring sessions on the future of work, AI and leadership from the likes of Yuval Noah Harari, Stephen Fry and Steven Bartlett on our YouTube channel now.
CogX Must Reads
Is the modern CEO role coming to an end?
CEOs are considering AI as a replacement for their own roles, with nearly half believing it could take over most — or all — aspects of their positions, according to a new survey. While AI may not replace CEOs entirely, an overwhelming majority of executives are concerned about their future work readiness without AI skills. (edX)
The #1 AI skill you need to learn, according to an MIT expert
MIT professor Anant Agarwal posits that the most important AI skill everyone should learn is prompt engineering. According to Anant, the ability to effectively prompt AI systems is fast becoming the most sought-after skill among employers, with some jobs now offering hefty six-figure salaries. (CNBC)
Future of the Office
Companies are not investing in their multigenerational workforce
The growing presence of baby boomer employees aged 57 to 75 is reshaping the job landscape, with 150 million jobs expected to shift to workers over 55 by 2030. However, only 4% of firms are committed to programmes that support multigenerational staff, leaving older employees without flexible work schedules or comprehensive healthcare benefits. (WorkLife)
Has hybrid work killed the traditional office?
50% of corporations worldwide with 50,000+ employees are looking to decrease office floor space due to the impact of hybrid work. While office vacancies have increased, certain high-quality office spaces remain in demand. Changing work patterns are forcing businesses to prioritise the quality, location, technology, and environmental credentials of their new office spaces. (Knight Frank)
AI & Automation
AI's impact on the workweek
JPMorgan CEO Jamie Dimon envisions a future where AI could shorten the workweek to just three and a half days for the next generation of employees, thanks to increased productivity. However, there’s a catch: with AI’s ability to automate countless tasks, job losses and reduced working hours could lead to wage cuts and less job stability. (HrGrapevine)
Business leaders look to HR for AI workforce readiness
According to LinkedIn’s Global talent trend report, HR professionals are taking on more strategic roles as business leaders turn to them to prepare employees for AI-driven work. The report reveals that 61% of HR professionals are implementing AI training to support employees, and a similar percentage are already using AI in their daily tasks. (People Management)
In case you missed it
JPMorgan’s CEO Jamie Dimon, discusses the role of AI in finance, its potential applications, implications for jobs, and concerns about its misuse:
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Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, investment, legal or tax advice.