The incorrect perspective on a career future is that AI will replace jobs.

• Despite concerns about a shortage of skilled individuals, surveys indicate that companies plan to increase their investments in AI.
• The main obstacle to organizations adopting new technology is a lack of internal technical skills.

The increasing use of artificial intelligence in businesses is causing concern among workers, with surveys indicating that AI spending is on the rise. However, workers should focus on developing new skills to keep up with AI advancements rather than fearing job loss.

AI is becoming a top priority and budget item for companies, with a survey of over 1,000 U.S. senior executives revealing that 68% of respondents plan to increase their spending on gen AI.

A survey of 1,000 U.S. workers who are familiar with AI found that 75% are concerned about AI making certain jobs obsolete, and about two-thirds are concerned about AI replacing their own job.

Many organizations struggle with a skills "shortage" when it comes to crucial technologies. Specifically, 18% of companies cite lack of skills and talent for AI implementation as their biggest challenge, while 41% say they plan to upskill and reskill their workforce. Despite concerns about cost constraints and lack of consensus over which emerging technologies to prioritize, internal technical skill sets were the most pressing issue.

"Although 70% of respondents expressed concerns about their workforce's ability to adapt to technological advancements, companies are increasing their budgets for training and upskilling, according to Anant Adya, executive vice president of Infosys Cobalt. This underscores the need for a balanced approach that addresses both workforce concerns and the necessity for companies to acquire the right talent to remain competitive."

To ensure long-term success, companies must rebuild their training programs as AI adoption continues within organizations, addressing the disconnect between AI fears and reality and equipping their employees with the necessary skills.

"According to Carl Froggett, CIO at cybersecurity company Deep Instinct, employees should understand that their jobs will not disappear entirely, but will shift to focus on high-level business goals, allowing them to concentrate on the skills and work required for true innovation. In general, job replacement fears are being exaggerated, and roles will not become obsolete over the next few years."

The shortage of technology talent with specific high-demand skills in the cybersecurity industry presents an opportunity for upskilling and increased training.

As AI becomes more integrated into the workplace, younger generations may not have the same hands-on experiences with tasks such as troubleshooting, outages, and security incidents, as many of these tasks will be automated by AI.

Froggett stated that organizations must establish a plan to develop and enhance individuals' skills and careers as AI eliminates some of the fundamental, ingrained building blocks that employees have grown accustomed to.

Experts suggest that colleges and universities can help alleviate the technology talent shortage by emphasizing critical building blocks in education and focusing on AI degree programs, which are currently experiencing growth.

As technology continues to advance, it is inevitable that unforeseen consequences will arise when implementing AI in existing roles. However, this is simply the nature of change. As Froggett stated, "Just as we have replaced graph paper with spreadsheets, technology will continue to transform roles over time. It is essential that we adapt and acquire new skills to take advantage of it."