Lauren Birch, Talent and Skills Lead, Turing Innovation Catalyst Manchester, discusses the importance of upskilling when adapting businesses for a technological future.
The demand for AI talent is surging and showing no signs of slowing down. According to Deloitte, 63% of business leaders consider AI crucial to their company’s success, with this figure set to rise to 81% within the next two years.
Data from McKinsey’s survey on the state of AI in 2024 paints a similar picture in terms of uptake, finding that the percentage of organisations that have adopted AI in at least one business function has risen from 20% in 2017 to 72% in 2024.
With this steep trajectory in mind, it’s clear that a strong cohort of AI talent will be an absolute must for many businesses as they adapt to new ways of working. But where should companies go to find that talent?
Lauren Birch suggests that business leaders ought to be looking closer to home and considering how they can upskill their existing teams before diving into external talent pools.
The rising demand for AI talent
In the last few years, we’ve witnessed technology evolving at a rapid pace, placing AI skills in increasingly high demand.
The implications that this pace of change has on the skills landscape is reflected on platforms such as LinkedIn, where the number of non-technical workers taking AI literacy courses more than doubled between June and December 2023. Alongside this, the presence of AI talent has increased by 22% on the platform since 2022.
Given this speedy pace of digital development, companies are finding it challenging, to say the least, to keep up with demand solely through external hiring. It now seems more essential than ever for businesses to consider alternative strategies to meet their growing talent needs.
Looking closer to home
While it’s tricky to predict exactly how AI will impact the labour market in the future, many leaders know that these innovations will require companies to have a certain level of AI literacy. This means that businesses must acquire a better understanding of the role they play in upskilling and reskilling their teams in order to provide them with the ability to succeed in the workplace.
The decision to upskill existing staff rather than hire externally is crucial for creating a workforce that’s resilient and adaptable to an evolving tech landscape. And given that 80% of the 2030 workforce have already left formal education and are either employed or looking for work, this figure alone makes a strong case for the imperative of shifting the focus towards upskilling. This move will certainly open the door to many significant advantages for both staff and employers.
Not only does an upskilling approach leverage the existing knowledge base within a company, but employees of an organisation are already one step ahead of the game – considering that they will already understand its culture, values, and operational processes. This foundational knowledge allows them to apply new AI skills more effectively and align innovation with the company’s strategic goals. It’s also a golden opportunity to invest in the professional growth of current employees, enhancing their engagement and loyalty, reducing turnover rates and reinforcing a more positive work environment.
From a financial perspective, upskilling is often more cost-effective than external hiring too. The process of recruiting, onboarding, and training new hires is both time-consuming and costly, with new employees taking longer to reach peak productivity as they acclimate to their new roles and the organisational culture. On the other hand, existing employees can immediately hit the ground running – applying their newly acquired skills and creating a quicker return on organisations’ investments.
‘Learning as the job’
While there are obvious financial benefits to upskilling teams, businesses must also recognise the importance of adopting AI thoughtfully, rather than jumping on the bandwagon without a clear strategy.
It’s crucial to first understand how AI can specifically enhance productivity within their unique business models. Companies need to take the time to evaluate and integrate AI in ways that directly benefit their operations, rather than implementing AI for its own sake. A more careful and considered approach to this can prevent wasted resources and ensure that AI truly adds value to the organisation.
It’s also important to acknowledge that learning new skills, particularly those related to AI, takes time. Employees need to be given the patience, space, and opportunity to try, test, and refine their skillsets. Online learning courses are only a small part of that process – and definitely shouldn’t be considered the only go-to solution here. To drive genuine proficiency in AI, companies must be willing to invest in their employees’ immersion in new technologies, while also accepting the associated risks and understanding that this learning curve could be a steep one.
Let’s face it – there’s simply no magic bullet here. Undertaking a single course is not enough to transform an employee’s capabilities. That’s why the industry must prepare for continuous evolution rather than viewing upskilling as a one-time event. Adopting a mindset where learning is integral to the job itself is essential for long-term success. This means creating opportunities for secondments, job shadowing, and practical, hands-on experiences with AI technologies.
Employees need to know more than just how to use AI tools; they need to understand how these tools work and how they can be leveraged. In essence, for a short spell at least, learning becomes the job, not just an add on at the end of a day’s work or during ‘quiet’ periods.
Building a future-facing workforce
As exciting and beneficial as the concept of upskilling is, it’s important for businesses to stay realistic. After all, not every employee is destined to become a prompt engineer or a programmer. But when it comes to truly thriving in this new era of technology, businesses must open their eyes to a more proactive approach by investing in the continuous development of their workforce and equipping them with the knowledge to flourish in the age of AI.
Ultimately, it will be the companies that recognise the necessity of upskilling and adopting a ‘learning as the job’ mindset that will be best equipped to navigate this new era. The journey may be challenging, but the rewards of a well-prepared, future-facing workforce will be invaluable.
