It's rapidly becoming clear that generative AI is the greatest technological breakthrough of our time, and we believe it will reshape industries in ways no technology has been able to accomplish before. As this new reality rapidly approaches, organizations must focus on reinventing their workforces at every level, from fully understanding the technology at the leadership level to equipping employees with the skills they need to work with AI.
Human interacting with AI artificial intelligence brain processor, AI artificial intelligence concept … [+]
There is a key element to this shift: the many benefits of this exciting technology will only be realised by employers adopting a people-centric approach that focuses on how technology can be applied to enhance employee productivity and happiness.
Accenture research finds that responsible adoption of Gen AI at scale and with a focus on people could unlock an additional €2.3 trillion in economic value in Europe over the next 15 years, equivalent to an additional 0.6 percentage points of annual GDP growth through 2038.
Considering the scale of work hours that could be supported by Gen AI highlights how transformative this technology will be and the imperative for leaders to invest in skilling their employees in this technology to prepare the entire enterprise to embrace this opportunity. Accenture research also reveals that up to 44% of work hours across Europe could be automated or augmented by Gen AI.
Four steps to developing talent
When I speak to clients who seek my advice on preparing their workforce for Gen AI and realizing the potential of this technology, I always point out four steps that business leaders need to take.
First, they must lead by example by leading and learning in new ways. To be effective in the AI future, leaders must challenge old ways of thinking, immerse themselves in technology, and effectively transform how they learn by incorporating learning into the flow of work.
Second, work needs to be reinvented. By rethinking entire workflows, leaders can gain clarity on where Gen AI can make the biggest impact, align with business goals to improve efficiency and innovation across the enterprise, and break down silos in lasting and meaningful ways.
The third is workforce reimagining. Organizations must prioritize ongoing talent transformation. As this technology adoption expands, organizations must make greater use of tools and technologies such as skills mapping, which not only help leaders facilitate smooth transitions from declining roles to new ones, but also help leaders understand where to redirect employees to higher value activities with growing capabilities.
And finally, you need to prepare your workforce: investing in equipping your workforce with market-relevant technical skills will improve their ability to work with machines and, more importantly, help build trust.
Investing in people
Investing in talent is a key action that connects all four steps above: Accenture research shows that 94% of European workers say they want to learn new skills to work in Gen AI, yet only 5% of employers currently offer Gen AI training at scale.
That's one of the many reasons Accenture invested $1 billion to launch LearnVantage, which provides clients with comprehensive technology learning and training services that help them reskill and upskill their workforces and transform their organizations to drive business value. And we're working with leading European companies to put their people at the heart of their transformation.
For example, we are partnering with Bank of Ireland, one of Ireland's largest financial services groups, on learning services to accelerate their digital transformation. Through a set of user-friendly learning experiences that include Gen AI training, the bank will be able to help their employees acquire new skills and transition into new roles. We are also supporting a global biopharmaceutical company's groundbreaking Generative AI training program to help develop their employees into world-class digital leaders.
Looking at market demands and this ever-changing landscape, leaders must listen and engage their employees every step of the way to strengthen trust and drive change. And rather than miss this once-in-a-generation opportunity, they must act now to dive head-on into the exciting innovations that Gen AI will create. Change will come in every European country. There is no escaping this fact. By empowering employees now, you will empower the future of the region.
