AS the adoption of artificial intelligence (AI) and automation continues to reshape industries worldwide, Malaysia is no exception to the transformative power of these technologies.
A recent global study by the IBM Institute for Business Value has revealed that 37 per cent of Malaysia's workforce is expected to undergo reskilling within the next three years to adapt to the rapidly evolving landscape.
Titled "Augmented Work for an Automated, AI-Driven World", the study surveyed 3,000 C-suite executives across 20 different industries and 28 countries, including Malaysia.
The findings paint a compelling picture of the challenges and opportunities brought about by AI adoption in the nation.
Reskilling — a necessity
Malaysian executives who participated in the study identified several pressing talent issues.
At the forefront was the need to adapt to hybrid working models, reflecting the shift in work arrangements brought on by the Covid-19 pandemic.
Following closely were concerns about the availability of the right skills and the ever-changing demands of employees in this new era of work.
Perhaps most notably, the survey indicated that a significant portion of Malaysian businesses, 59 per cent to be exact, were choosing to invest in reskilling their existing workforce rather than seeking external hires.
This strategic choice underscores the importance of nurturing and retaining talent from within, showcasing a commitment to fostering growth and adaptability among their employees.
Employee-employer divide
A striking disparity emerged from the study between employers and employees regarding their priorities at work.
While AI takes on an increasing number of manual and repetitive tasks, employees worldwide have identified engaging in impactful work as their top priority. This emphasis on meaningful contributions to the workplace highlights the evolving nature of employment and the desire for employees to find value in their roles.
IBM Malaysia's managing director and technology leader, Catherine Lian, emphasised the significance of addressing this gap in perceptions, stating: "Bridging this gap will be crucial in ensuring that AI and automation are harnessed in a way that enables employees to redirect their time and energy to impactful work within the organisation."
The roadmap for change
The research not only sheds light on the current state of job roles, skills and work processes, but also offers valuable recommendations for leaders grappling with talent challenges in an AI-dominated era.
Among these recommendations, a prominent focus on skills and operating models is advocated.
It highlights the need for organisations to prioritise reskilling and upskilling initiatives, providing their workforce with the tools and knowledge to adapt to the evolving technological landscape.
Moreover, the report underscores the importance of refining operating models to align with the transformative potential of AI, enabling organisations to remain competitive and resilient in the face of change.
Imperative to resell and adapt
In conclusion, as AI and automation become increasingly integrated into the Malaysian workforce, the imperative to reskill and adapt is undeniable.
"Malaysian businesses are embracing the challenge by investing in their employees, recognising the value of internal talent development.
"The divide between employer and employee perspectives underscores the importance of fostering meaningful work in an AI-driven world," said Lian.