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'Great Resignation' enters third year as workers embrace AI, upskilling, PwC says

Livemint

Livemint · 1y ago

'Great Resignation' enters third year as workers embrace AI, upskilling, PwC says

A recent survey by PwC found that more workers are planning to switch employers in the next 12 months compared to previous years. Around 28% of respondents stated they were likely to move from their current companies, compared to 19% in 2022. The survey also revealed that workers are embracing emerging technologies, such as generative artificial intelligence, and prioritizing upskilling. Employees are placing a higher value on organizations that invest in their skills growth, and businesses should prioritize upskilling and creating a positive employee experience to retain talent.

Related News

You just need to upskill quicker at AI-linked jobs: Report

Economic Times

Economic Times · 2m ago

You just need to upskill quicker at AI-linked jobs: Report

A PwC report highlights that skills needed by employers change 66% faster in AI-exposed jobs compared to those less exposed. AI-driven industries like software publishing see higher revenue per employee growth. The demand for AI-skilled workers is rising fastest in information and communication, professional, and financial services. Despite an overall job growth, keyboard clerks and ICT professionals are exceptions. The AI era focuses on upskilling as industries increasingly centralize around digital economies.

Redefining HR With An AI-Enabled Embodied Chatbots

Inc42 · 1y ago

Redefining HR With An AI-Enabled Embodied Chatbots

This explores the impact on HR practices and the potential of AI-enabled chatbots to revolutionize the future of HR. The "Great Resignation" trend is leading HR practitioners to search for innovative solutions to employee turnover. Flexible work arrangements, technology adoption, and upskilling initiatives are becoming increasingly important. AI-enabled embodied chatbots offer an immersive user experience and personalized assistance, streamlining HR processes and increasing employee engagement. Leveraging AI in HR allows for data-driven decision-making, improved talent management, and mitigating the impact of the "Great Resignation." Ultimately, AI has the potential to transform HR practices and drive organizational success.

BYJU’S Owned Great Learning’s Revenue Crosses $100 Mn Mark

Inc42 · 10m ago

BYJU’S Owned Great Learning’s Revenue Crosses $100 Mn Mark

Great Learning, an edtech startup based in Bengaluru, achieved a 23% year-on-year growth in gross revenue, reaching $118 million in FY24. Despite the challenging economic conditions, the company managed to maintain profitability and stay EBITDA positive. Great Learning, founded in 2013, specializes in providing upskilling courses in data science and AI in collaboration with renowned institutions like IIT Bombay and Johns Hopkins University.

Adecco chief says AI will create new jobs

Economic Times

Economic Times · 1y ago

Adecco chief says AI will create new jobs

The head of Adecco, the world's largest temporary staffing agency, believes that while artificial intelligence (AI) may disrupt and revolutionize job markets, it will also create new positions. Denis Machuel states that AI, such as generative AI capable of creating content, could reshape various professions from meteorologists to lawyers. He emphasizes the uncertainty of how AI will unfold in the next five years, causing a balance between job creation and destruction. Machuel believes that white-collar workers may be more impacted in the short term, particularly in tasks related to information management. He also highlights the potential for upskilling and re-skilling through AI tools.

As employee confidence in AI's potential grows, so does their anxiety

Business Insider

Business Insider · 1y ago

As employee confidence in AI's potential grows, so does their anxiety

According to a report by Boston Consulting Group, workers' confidence in generative AI has increased by 16% over the past year. However, their anxiety about the technology has also increased by 5%. The survey found that frontline workers were the most worried about the impact of AI on their jobs. There is a knowledge gap between executives and employees, with fewer frontline workers reporting being trained on AI. Companies are trying to address this gap by offering upskilling programs to help employees incorporate AI into their work. The concern is that AI may create a divide between those who know how to use it and those who don't, potentially leading to job loss for the latter group.

Cyber risks biggest threat faced by Indian orgnaisations: PwC survey

Economic Times

Economic Times · 1y ago

Cyber risks biggest threat faced by Indian orgnaisations: PwC survey

According to a survey by PwC, cybersecurity is now considered the biggest threat faced by Indian organizations, with 38% feeling highly or extremely exposed to cyber risks. This marks a shift from the previous year, where cybersecurity ranked third on the risk radar. Indian businesses are responding by making significant investments in cybersecurity tools and technologies like AI and machine learning. The survey also found that Indian executives see technology disruptors as opportunities, with 69% viewing Generative AI as an opportunity. Additionally, 88% of Indian organizations are actively investing in building resilience in their ecosystem.

Thanks to AI, junior employees at major firms are spending less time prepping paperwork and more time pitching clients

Business Insider

Business Insider · 1y ago

Thanks to AI, junior employees at major firms are spending less time prepping paperwork and more time pitching clients

AI is revolutionizing the workplace by freeing up junior employees from mundane tasks at major consulting and law firms. The implementation of AI technology enables junior staff members at firms like KPMG and PwC to take on more challenging work earlier in their careers. This shift in responsibility allows them to gain valuable skills and progress up the corporate ladder more quickly. However, while AI automation may be beneficial for less-skilled workers, it could potentially diminish the competitive advantage of highly skilled workers.

Haldirams enters agreement with Singapore investment major Temasek to sell stake: PwC

Business Today

Business Today · 5m ago

Haldirams enters agreement with Singapore investment major Temasek to sell stake: PwC

Haldiram Snacks Food has reached an agreement to sell an equity stake to Singapore-based investment firm Temasek. The arrangement, pending customary regulatory approvals, will soon conclude. The PwC Investment Banking team and Khaitan & Co served as the financial and legal advisors, respectively, for this transaction.

Mint Primer | Behind the job cuts: Is AI the real reason?

Livemint

Livemint · 2m ago

Mint Primer | Behind the job cuts: Is AI the real reason?

Despite strong profits, tech giants are laying off workers, citing AI and automation. The pandemic, evolving strategies, and investor pressure also contribute to this trend. Predictions indicate a substantial displacement in white-collar jobs due to AI, while automation may replace manual tasks, especially in tech. By 2030, 39% of workers' skills will be outdated, necessitating upskilling. Job growth is expected in frontline roles and tech sectors, emphasizing AI, big data, and cybersecurity skills.

'Work from home failed for us in most critical areas,' says Zerodha’s Nithin Kamath

Inshorts · 1y ago

'Work from home failed for us in most critical areas,' says Zerodha’s Nithin Kamath

Zerodha CEO Nithin Kamath said that the work from home model didn't work for some of his employees. Kamath said the model failed for the organisation in the most critical areas. "It worked out great in first year, started losing its sheen in the second year and became detrimental to creativity...by the third year," Zerodha's CTO Kailash Nadh wrote.

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