The unemployment rate drops at 3.7% with approximately half a million technology jobs yet to be filled, labels the Bureau of Labor Statistics Report.
Technologies like artificial intelligence and machine learning are already transforming how the business operates. For instance, in the finance sector, AI is now a major technology that does the work of customer service to credit decisioning from fighting fraud.
While most people fear AI to squeeze their jobs, IBM has an entirely different side to the story. Today, IBM unveils how AI can significantly identify talent in the workforce.
The role of artificial intelligence has led to more job opportunities for the less technically skilled and disadvantaged communities.
With competition and skill shortage in the technology market, IBM finds a solution.
One of the biggest challenges in AI-related jobs is to find candidates with the right fit and relevant AI skills. The shortage of AI professionals is severe, organizations need to address these concerns and start getting creative about hiring such skilled professionals.
IBM: a significant breakthrough
One of the topmost giant technology firms to test new methods that involved AI to overcome challenges faced in the labor market.
IBM uses AI to screen job applications directly to prevent human bias while making that hiring decision.
Besides IBM, other companies have started using AI assessment tools. Thus, to reverse-engineer job roles and pick talents often neglected by employers.
What’s unique?
IBM has introduced its SkillsBuild platform in France earlier this May. The platform aims to identify job skills as well as job opportunities for disadvantaged communities.
The platform will roll out in the coming months in Germany, followed by India. They also plan on bringing the platform to the U.S. in 2020, by then the community will have thousands of users.
This initiative will be best suited for jobseekers suffering from long-term unemployment, veterans, those seeking refuge, etc.
SkillsBuild partners with multiple NGO partners and nonprofits in an attempt to form a “new” sustainable hiring mindset. However, currently, it has not been used as part of the job application process by IBM.
How IBM is hiring below a college degree?
The SkillsBuild platform is using AI tools such as MyInnerGenius, created by San Diego area-based GreatBizTools that are specifically used to design AI products to search talent in a non-traditional manner.
• This AI tools help in filling the entry-level and mid-level IT job roles for the IBM new program called “New Collar Program” in the U.S. and SkillsBuild program happening in Europe.
• Most applicants who had filled these applications had no prior experience in the technology domain and neither a college degree.
Denise Leaser, president of GreatBizTools says due to a shortage of AI professionals and skills shortage, it has become crucial for companies like IBM to look for talent beyond the talent pool.
At present, there are more than 500,000 IT job openings, but colleges can produce only 50,000 candidates with an IT degree annually.
IBM looks forward to opening up more IT for people who were not able to forge a career in the technology domain, even more for those who have never thought of getting into an IT career earlier.
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Reskilling and upskilling
IBM CEO Ginni Rometty says the AI will transform 100% of the jobs including web development, cybersecurity, and customer service in the next decade.
A well-said statement by Jacob Hsu, CEO of workforce data science company Catalyte, “we’re using AI to identify exceptional people from all walks of life that have remarkable ability to be very rapidly retrained to not just be good engineers but the very highest-performing, most successful engineers in the industry.”
So, in literal terms, hiring truck drivers, retail workers, teachers, and fast-food workers will gain momentum. And within 20 weeks' time, they’ll be going through computer science degree not just to prove they’re eligible for the best jobs but to acknowledge there can be highest performers from these categories as well.
For artificial intelligence to succeed, top employers and recruiters will also look for tech professionals with AI certifications.
This is what Jacob Hsu says, “we believe ultimately everyone is a superhero; we just have to help them uncover what their superpower is.”
Organizations must be well-prepared when this paradigm shift takes place.
Ultimately, they would need to focus on majorly three things – retraining, hiring, and considering workers without a college degree.
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