In early 2024, more than 44500 people were laid off, most companies laid off employees because of the integration of Generative AI displacing jobs and very few companies laid off because of economic situations again.
The repetitive jobs that can be performed by Artificial Intelligence will be obsolete.
However, Gen AI will create more jobs than it will displace. According to a McKinsey report, less than 5% of jobs will be lost due to AI, and around 60% of jobs will require adaptation to AI, developing new skills to factor AI into the work, as the tasks we do will change.
The companies have been upskilling their employees in Gen AI. Recently, Tata Consultancy Services (TCS) has strengthened its AI capabilities across its value chain. After training over 150,000 employees in the foundational skills of Generative AI.
TCS has launched an AI Experience Zone, to foster hands-on proficiency in Artificial Intelligence (AI) and Generative AI (GenAI) for its employees.
The company’s trained employees can explore, engage, and experiment with cutting-edge GenAI-powered applications, creating innovative use cases, with all necessary guardrails while upholding Responsible AI principles.
In July 2023, Wipro Limited announced the launch of Wipro ai360, a comprehensive, AI-first innovation ecosystem that builds on Wipro’s decade-long investments in artificial intelligence (AI) to integrate AI into every platform, every tool, and every solution used internally and offered to clients.
In achieving these goals, the company will train all 250,000 employees on AI fundamentals and responsible use of AI over the next 12 months and will continue to provide more customized, ongoing training for employees in AI-specialized roles.
Wipro will develop a curriculum that maps out the complete AI journey for different roles. The completion of the curriculum will culminate in the credentialing of employees through the Decentralized Identity & Credential Exchange (DICE) ID platform.
Wipro will also run hackathons and challenges on its talent crowd platform, Topcoder, for continuous upskilling of employees.
In November, IBM announced an expansion of its relationship with Amazon Web Services (AWS) to help more mutual clients operationalize and derive value from the latest technologies, including generative artificial intelligence (AI).
As part of this, The company has launched the Innovation Lab, in collaboration with AWS, at the IBM Client Experience Center in Bangalore.
IBM Consulting plans to train and skill 10,000 consultants on AWS generative AI services by the end of 2024. They will have access to an exclusive, partner-only program that provides training on the top use cases and best practices for client engagement with AWS generative AI services.
This will help advance their knowledge, allow them to engage with technical professionals, and better serve clients innovating on AWS.
Upskilling in Generative AI?
The companies are upskilling their employees in Generative AI as it is providing opportunities to its employees for career growth and promotion. Moreover, the skilling will help the companies to retain top talent.
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