How Companies Can Use AI To Find And Close Skills Gaps

To train employees on digital skills, companies need precise insight into current workforce skills. Artificial intelligence (AI) can help.

Copyright: mitsloan.mit.edu – “How companies can use AI to find and close skills gaps”

In a 2022 survey, executives estimated that 38% of their workers would need “fundamental retraining or replacement” within three years to address workforce skills gaps, according to new research from the MIT Center for Information Systems Research.

People with AI and data skills are in high demand, and attracting and retaining talent is hard and time-consuming, according to Nick van der Meulen, a research scientist at MIT CISR. “Training is a really important way for us to achieve results. For performance, for retention, for customer experience, and for innovation, it’s the way to go,” van der Meulen said at last fall’s MIT Digital Technology and Strategy Conference.

And in many cases, workers want to be trained. In a Society for Human Resource Management survey, 55% of employees said they need more training to do their job better, and 76% said they would be more likely to stay with a company that offered continuous learning.

To retrain employees, companies need precise insight into workforce skills, including ones that are missing but would contribute to future success, van der Meulen said. To gain such insight, companies such as Johnson & Johnson are using “skills inference” — the process of using AI to analyze employee data to quantify skills proficiency and identify areas for improvement.[…]

Read more: www.mitsloan.mit.edu

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