AI and job creation – building a future-ready workforce

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AI and job creation

As the World Economic Forum (WEF) continues to spotlight the future of work, South Africa faces a unique challenge. The country must address the evolving demands of the 4th Industrial Revolution (4IR).

As of April 2024, South Africa had the highest unemployment rate among the 19 G20 countries. The country struggles with deep societal inequality and high unemployment. South Africa stands at a critical juncture. It must embrace Artificial Intelligence (AI) and 4IR opportunities or risk further marginalisation. This is crucial in a rapidly transforming global economy.

Developing future-ready skills

South Africa is making significant strides in AI. The country has ambitious goals outlined in its 2030 vision. South Africa aims to cultivate a robust AI ecosystem. It seeks to nurture homegrown talent and attract substantial investment.

The country targets having 5,000 AI experts by 2030. It plans to train 30% of the workforce in basic AI skills.

South Africa also seeks to support 100 to 300 AI startups. Additionally, AI and job creation means the country aims to secure R70 billion in direct AI investment. These initiatives reflect South Africa’s recognition of AI’s transformative potential. The country is determined to leverage AI for economic growth and societal advancement. However, the rise of AI also brings challenges.

Concerns about job security

Automation and AI technologies can displace workers. This raises concerns about job security and workforce adaptation. While these concerns are valid, AI also creates new opportunities. AI can drive innovation and boost productivity. It can even generate new types of jobs.

The question then becomes: How can South Africa prepare its workforce to harness these opportunities? How can the country mitigate the risks of AI-driven automation?

The future demands skills that traditional education often overlooks. Problem-solving, digital literacy, adaptability, and collaboration are essential now. These skills are as important as technical expertise. The WEF’s Future of Jobs Report underscores this. The jobs of tomorrow require a blend of technical and human-centric capabilities.

For South Africa to remain competitive, it needs a multipronged approach. This includes reforming school curricula and upskilling professionals. The country should create targeted programs to prepare school leavers for emerging industries.

Empowering individuals and organisations

The rise of AI does not just threaten jobs; it creates them. Careers in data science and cybersecurity await skilled professionals. To unlock these opportunities, investment in training and support systems is needed. Practical, job-aligned training is critical for school leavers. For professionals, lifelong learning and reskilling must become the norm.

Companies also play a vital role in AI and job creation. By fostering a culture of learning, businesses can develop necessary talent. Partnering with training providers will help companies contribute to a more equitable economy.

A holistic approach to skills development is crucial in today’s rapidly changing world. This approach must go beyond traditional education. Real-world training and job placement support are essential. Organisations are already embracing this approach. They aim to bridge the gap between education and employment.

South Africa has the resilience and ingenuity to overcome its challenges. By investing in people and focusing on the future, South Africa can transform its workforce. The country can create a more inclusive and prosperous society.


Stefan Lauber | CEO | iFundi | Founder | Job Summit | mail me |


 



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