The So What from BCG
Rewire or Retire
Aug 14, 2024
Sagar Goel, a leader in digital reskilling and leadership development at BCG, discusses the imminent changes AI will bring to the workforce. He emphasizes the urgent need for collaboration between governments, corporations, and individuals to prepare employees for a transformed job landscape. Sagar highlights innovative examples like IKEA's approach to employee reskilling. He also advocates for dynamic learning strategies and continuous personal development, urging leaders to prioritize upskilling in a rapidly evolving digital age.
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Quick takeaways
- The rapid evolution of AI demands immediate reskilling efforts, as traditional skills' half-life is just five years and affects one in three jobs.
- Successful reskilling initiatives, like IKEA's transformation of customer service roles, demonstrate the potential for companies to thrive by investing in employee development.
Deep dives
The Urgent Need for Reskilling
The rapid advancement of technology, particularly AI, is creating a significant demand for workforce reskilling, as traditional skills become obsolete at an alarming rate. Currently, the half-life of skills is approximately five years, meaning that half of the skills workers possess will become outdated within that period. This situation affects one in three workers globally, highlighting the necessity for individuals to undergo reskilling in order to transition to new or evolved job roles. Companies and governments must collaborate to ensure these workers receive the training needed to adapt within this rapidly changing job landscape.
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