Displacement Agencies: Retooling and Reskilling to Keep Up With the Pace of Change
“When the rate of change exceeds our ability to adapt, you get dislocation. Dislocation is when the whole environment is being altered so quickly that everyone starts to feel they can’t keep up.”
Craig Mundie, former chief of strategy and research at Microsoft
“The world is not just rapidly changing, it is being dramatically reshaped- it is starting to operate differently. This reshaping is happening faster than we have yet been able to reshape ourselves, our leadership, our institutions, our societies and our ethics.”
Dov Seidman, American author, columnist and businessman
Think about how long it used to take for new inventions to change the world. A thousand years ago, progress was so slow it took centuries for any significant advancements to happen. For instance, it took hundreds of years for the printing press to revolutionize the spread of information. Fast forward to 1900, and we saw revolutionary technologies like cars and airplanes transform our lives within a couple of decades, making long-distance travel and personal transportation common. By the early 2000s, the pace had accelerated even more with mobile devices, the internet, social platforms and cloud computing reshaping our world in just 5-7 years. Consider how quickly smartphones went from novel to essential tools for daily life, or how social media platforms like Meta, TikTok and Twitter changed the way we interact with one another almost overnight. Most recently, it took less than a year for ChatGPT to become a household name, finding its way into everything from customer service chatbots, and productivity tools to virtual assistants.
But here’s the problem: our systems for learning, managing, and regulating can’t keep up with the fast pace of innovation. AI is transforming industries at an unprecedented pace, but we’re struggling to train professionals and set regulatory and ethical guidelines to keep up. For example, new GenAI tools like GPT-4 are being used to draft legal documents, write marketing content, and provide customer service. These tools can accomplish in seconds what used to take hours to days. Lawyers need to learn to review and refine AI-generated documents to ensure accuracy and compliance with legal standards. Marketers need to learn how to blend AI-generated content with human creativity to maintain authenticity and engagement. Customer service representatives must adapt to using AI tools to handle routine inquiries while focusing on more complex customer issues.
Astro Teller (CEO of Alphabet’s Innovation Lab) nicely illustrates in his chart below the growing gap between the rapid rate of technological advancement and the pace of human adaptability. We are at a point where technology is advancing faster than we can adapt.
Despite these growing needs, our education and training systems are not evolving quickly enough. Traditional curriculum and professional development programs often lag behind the latest industry practices, leaving workers unprepared for the new demands of their roles. Lifelong learning is no longer optional; it’s essential. Staying current with the latest advancements is crucial for navigating the ever-evolving technological landscape.
Last week, we discussed the core skills humans need to master, with adaptability at the forefront. The rapid acceleration of technology and the constant influx of new ideas are making the world feel disorienting and challenging for many. To thrive in this fast-paced environment, we must enhance our adaptability and continuously update our skills. It is like riding a bicycle: you need to keep moving your feet and pushing the pedals. Once you get the motion, it becomes easier, and you move forward smoothly.
The Role of Displacement Agencies
A study by the McKinsey Global Institute reports that by 2030, at least 14% of employees globally could need to change their careers due to digitization, robotics, and AI advancements. One solution is the establishment of displacement agencies. These agencies will play a crucial role in ensuring individuals are equipped to thrive in new roles and industries.
What Are Displacement Agencies?
A displacement agency is an organization dedicated to helping businesses or individuals transition from jobs adapting to new technology or made obsolete by automation and AI. These agencies will act as intermediaries between the current workforce and the evolving job market, providing the necessary support, training, and guidance.
Why Will Displacement Agencies Be Critical in the Future?
Displacement agencies will help by:
1. Mitigating Job Losses by providing targeted retraining and reskilling programs.
2. Bridging the Skills Gap by ensuring workers have the necessary skills to transition into enhanced or new AI-enhanced roles.
3. Supporting Economic Stability by facilitating smooth transitions for workers, and reducing unemployment rates.
What Will Displacement Agencies Do?
1. Assess Skills and Gaps- Displacement agencies will begin by evaluating an individual's current skills and identifying areas that require development. This assessment will involve:
Skill Mapping: Creating a detailed profile of an individual's existing skills, experiences, and qualifications.
Gap Analysis: Identifying the skills and knowledge gaps that need to be filled to transition into new roles.
2. Provide Training Programs- Once skill gaps are identified, displacement agencies will offer tailored training programs to help individuals acquire the necessary competencies and provide certifications. These programs will include:
Technical Training: Courses focused on developing technical skills relevant to AI and automation, such as programming, data analysis, model training, AI system management etc.
Soft Skills Development: Training in critical soft skills like communication, collaboration, adaptability, and emotional intelligence.
3. Offer Career Counseling- Career counselling will be a vital component of displacement agencies' services. Counsellors will guide individuals through their career transitions by:
Career Planning: Helping individuals map out potential career paths based on their interests, skills map, and market demand.
Resume Building and Interview Prep: Assisting with resume updates and preparing for job interviews in new fields.
4. Facilitate Job Placement- Connecting trained individuals with job opportunities in emerging fields will be a key function of displacement agencies. They will:
Job Matching: Use advanced algorithms and networks to match individuals with suitable job openings.
Partnerships with Employers: Establish partnerships with companies to understand their hiring needs and ensure a steady supply of qualified candidates.
Job Fairs and Networking Events: Organize events to connect job seekers with potential employers and industry professionals.
Conclusion
As the landscape of work continues to evolve with AI and automation, displacement agencies will be vital in facilitating smooth transitions for the workforce. By assessing skills, providing targeted training, offering career counselling, and facilitating job placements, these agencies will ensure that individuals are well-prepared for future roles that leverage human expertise and capabilities.