The looming presence of AI in the job market has sparked concerns about potential layoffs, as demonstrated by UPS’s recent substantial layoff attributed in part to technological advancements, including AI, as acknowledged by CEO Carol Tomé.
Similarly, IBM has announced a hold in hiring for roles deemed susceptible to automation by AI, as outlined by CEO Arvind Krishna cause roughly 7,800 IBM jobs could be replaced by AI, automation
In response to these concerns, a coalition of major tech companies and consultancies, under the banner of the AI-Enabled ICT Workforce Consortium (ITC), has emerged. Led by Cisco and backed by industry giants like Google, Microsoft, IBM, Intel, SAP, and Accenture, the ITC aims to challenge the narrative of AI-induced job losses. Its focus lies on facilitating reskilling and upskilling within the information and communication technology (ICT) sector.
A sense of apprehension prevails among workers, with a McKinsey survey revealing that 25% of business professionals anticipate staff layoffs due to AI adoption. This pessimism finds validation in estimates suggesting that around 4,000 workers have lost their jobs to AI since May. Additionally, a survey conducted by Beautiful.ai indicates that nearly half of managers harbor intentions to replace workers with AI.
The consortium’s approach involves researching and evaluating AI’s impact on specific job roles within the ICT industry, recommending training programs, and bridging the gap between businesses and skilled workers.
In its initial phase, the ITC plans to assess the impact of AI on 56 ICT job roles, providing training recommendations accordingly. These roles have been selected based on their strategic significance in the ICT ecosystem and potential entry points for low-level workers.
While the ITC intends to publish its findings this summer, questions remain about its long-term strategy. However, the consortium aims to address these concerns by extending invitations to other organizations and institutions to join collaborative efforts in supporting an AI-enabled ICT workforce.
Despite the promises of skill development and training programs, concerns persist about the actual availability of AI-related roles in the future. Analysis by Lightcast suggests a decline in demand for AI positions, raising doubts about the feasibility of the consortium’s ambitious goals.
Ultimately, the effectiveness of industry consortiums like the ITC will be measured by their ability to translate promises into tangible actions that address the evolving landscape of work in the age of AI. As Big Tech navigates this transformative era, delivering on commitments becomes paramount to shaping the future of work responsibly and sustainably.