Tech giants hatch a plan for AI job losses: Reskill 95 million in 10 years

Tech giants including Accenture, Eightfold, Google, IBM, Indeed, Intel, Microsoft, and SAP have joined forces in a new consortium to address the repercussions of job losses due to artificial intelligence (AI) adoption. This initiative, named the AI-Enabled Information and Communication Technology (ICT) Workforce Consortium, aims to assist individuals who have been or will be displaced by AI by offering opportunities for upskilling and reskilling to reintegrate them into the workforce.

The consortium’s primary objective, as stated by Cisco executive Francine Katsoudas, is to provide organizations insights into the impact of AI on jobs and equip workers with relevant skills. With the acknowledgment that AI adoption is leading to significant workforce disruptions, companies like UPS and IBM have already started layoffs or hiring freezes due to AI-related changes. A study revealed that over 4,600 jobs have been eliminated by US companies in pursuit of AI-capable employees or automation.

Despite foreseeing numerous jobs being entirely replaced by AI, the consortium members are optimistic that by offering support for upskilling and reskilling, impacted workers can transition into new roles. The companies have set ambitious targets to positively impact over 95 million individuals globally in the next decade by focusing on training in cybersecurity, digital skills, and AI. For instance, Cisco aims to train 25 million people in cybersecurity and digital skills by 2032, while IBM plans to skill 30 million individuals, including 2 million in AI, by 2030.

While these targets are aspirational, the consortium’s commitment to addressing the challenges imposed by AI is evident. By examining the impact of AI on various job roles and making recommendations based on the evolving market demands, the consortium seeks to ensure that workers possess the necessary skills to meet the expectations of ICT companies. Through collaborations and strategic initiatives, the consortium endeavors to mitigate the adverse effects of AI on the workforce and facilitate a smoother transition for individuals into new career pathways.