Image credit : Investing News Network
Even though predicting the effects of ChatGPT is dangerous business, hundreds of writers have been blathering on about how it will alter the way we live, work, and learn (including how it might plague education or cause a “nuclear-level catastrophe”). What about the effects of AI on employers and the workers they are finding so difficult to find?
It will become more crucial to distinguish between AI’s effects on the skills gap and the experience gap as it starts to change the nature of work. The skills gap is a reflection of certain qualities that employers look for in candidates (but frequently don’t find), notably digital or platform capabilities mixed with the soft skills that companies frequently lament. In essence, the experience gap is the mortar that surrounds these skill bricks. Do applicants have sufficient experience to know how to use their skills in a particular job function and industry? The only method to evaluate it for the majority of employers is through actual experience.
The good news is that AI might be able to fill in some of the skill gaps. Users will soon be able to describe to computers what they want them to accomplish in natural language using capabilities built into digital platforms. Consider the thousands of recent college grads who work long hours in investment banks creating presentations to persuade clients to engage in one transaction or another. A large portion of this time will be saved by AI, freeing up fresh analysts to work on higher-order, more valuable tasks like networking, business development, and gaining actual industry experience. Professionals who have already started using ChatGPT for work say it’s very helpful and fulfilling; MIT researchers discovered that ChatGPT greatly boosts job satisfaction by relieving employees of many tedious tasks.
Entry Level Jobs In Danger
The bad news is that these automatable tasks make up a large portion of what are currently considered to be excellent entry-level positions in a variety of industries. Employers will value understanding what to do with skills more as AI increases access to skills. AI-influenced entry-level occupations will start to resemble today’s mid-level jobs, which require years of experience, in fields like digital marketing and accountancy. As a result, employers are likely to add years of experience to “entry-level” job descriptions—or the equivalent in proven abilities and certifications. Employers may fairly anticipate that entry-level employees will be familiar with AI and about 50% more productive. Thus, even while the experience gap may widen, the skills gap may continue to grow.
We’ve already seen this play out in cybersecurity, a sector already worked-over by AI. It’s not uncommon to see position descriptions for entry-level security operations center (SOC) analyst positions demanding “at least four years of experience, including time doing penetration testing, digital forensics and vulnerability assessments; and professional certificates.” As one college senior posted on LinkedIn, “I’ve lost count of the number of ‘junior’ cybersecurity role advertisements I’ve seen that want 1-3 years of experience and a CISSP. Anyone who knows anything about the CISSP knows you need minimum five years of full-time experience.”
Bridge The Growing Experience Gap
The issue is that while career launchers can theoretically fix a skills difference through last-mile training, it’s more difficult to close an experience gap. As a result, there will be fewer employment that appear to be entry-level, raising the bar for solid entry-level positions and making career launch even more challenging. With regard to employing entry-level employees, the digital transformation made companies more picky and cautious, but generative AI will increase this to a new level. Employers will seek to hire entry-level individuals who have already demonstrated their ability to do the job more than before.
The issue will become even more intense with the advent of industry-specific large language models. Bloomberg has already created BloombergGPT, “a 50 billion parameter language model that is trained on a wide range of financial data.”
It is generative AI for the finance industry, thus only workers with some level of experience can use it. Every key industry, including cybersecurity, logistics, healthcare, insurance, and more, will develop similar specialized AI. This is followed by AI for functions related to sales, marketing, product management, purchasing, customer support, HR, and IT. As a result, there will be a paradoxical experience gap because entry-level workers won’t have the specialized expertise they need to know what questions to ask AI. Nobody is also asserting that a new kind of AI will help people choose the queries to ask it.
Also read : Apple may restrict access to WiFi 6E to iPhone 15 Pro models
What should we do to get ready for this future if that is what it holds for us? In the ChatGPT era, scalable paths that not only teach but also provide relevant job experience will be crucial for career launch and socioeconomic mobility. Schools will have to move quickly. Every high school will make career and technical education and youth apprenticeships a priority.