Future of Work
Your weekly CogX briefing on HR tech, automation, and the workplace
The week's developments on automation & the workplace, explained | 30.10.23
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In a significant workplace shift, London's financial firms are scaling back hybrid work, causing women to leave high-calibre roles that they could maintain through flexible work. Meanwhile, GenAI is set to impact jobs worldwide — but replacing human jobs on a wider scale remains highly unlikely.
Plus, over 60% of talent managers in Europe identify high turnover of young employees as the primary hurdle to addressing skills shortages. This concern is particularly pronounced in the UK, with over 48% of companies worrying about knowledge loss as experienced workers retire.
Explore these topics — as well as the latest on how companies are shifting away from remote work, AI optimism in the workplace and the GenZ AI integration — in the CogX Must Reads.
—Charlie & the Research & Intelligence team
P.S. After an incredible CogX Festival 2023, we're gearing up for another year of cutting-edge innovation, game-changing breakthroughs, and endless inspiration. Don't miss out – grab your super early bird tickets now and secure your spot at CogX Festival 2024 today!
CogX Must Reads
Rollback of hybrid work in City of London impacts gender equality
While the initial transition to remote work during the pandemic benefited working parents — particularly women — the situation has changed. Many firms, especially in the financial sector, are dialling back hybrid work — and their inflexibility is causing women to leave high-level roles. (Bloomberg)
Is your job resilient to AI?
Virtually all jobs will experience GenAI's impact in the future, but complete job replacement remains highly unlikely, a new study finds. GenAI will reshape how people work, upskill and automate repetitive tasks — but deep, diverse, and uniquely human knowledge will remain valuable in an AI-driven workplace. (Techopedia)
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Future of the Office
Generational turnover poses challenges amid skills crisis
60% of talent managers in Europe identify high turnover of young employees as the primary hurdle for addressing skills shortages. In the UK, 48% of companies are concerned about knowledge loss due to the retirement of the older workforce, citing the inability to find people with the right experience and skills. (HR News)
Remote jobs are in decline as demand soars
New survey data shows that companies are shifting away from remote work, with a 22% decline in remote-first job ads — and a 24% drop in roles offering 3-4 days of remote work. However, job seekers are making it clear that they prefer a remote-first work model, with nearly half actively seeking this work pattern. (Flexa)
AI & Automation
AI may not be the job killer we fear
IBM's CEO Arvind Krishn believes AI won't replace as many jobs as most people think. “We should be more worried about national security risks and AI-powered misinformation”, Krishna cautioned. He advised young professionals to develop critical thinking skills to future-proof their careers. (Business Insider)
Gen Z welcomes AI integration at work
Gen Z is eager to learn about AI — but fears discussing its use with their employers, with 42% reporting feeling that AI gives them an unfair advantage. Despite this, 45% of youths see the potential for AI to transform the world, and 40% are eager to incorporate it into their workplace. (WorkLife)
In case you missed it
Learn how AI can either empower or marginalise workers with disabilities, presenting both opportunities and challenges:
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Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, investment, legal or tax advice.