Asteri, under the leadership of CEO Julia Grace Samoylenko, focuses on addressing the challenges of AI-induced job displacement by emphasising ethical AI deployment, proactive upskilling initiatives, and transparent skill assessments. As AI transforms the global workforce, Asteri aims to lead in retraining employees to meet the demands of an AI-centric future and contribute to the evolving talent revolution.
Asteri’s Strategy to Mitigate AI-Induced Job Displacement: A Focus on Workforce Skills
PALO ALTO, California – June 25, 2024 – As artificial intelligence (AI) technologies continue to develop at a rapid pace, the global workforce faces significant transformation challenges. According to the National Fund for Workforce Solutions, AI is anticipated to replace 75 million jobs worldwide by 2025. This has sparked widespread apprehension, with 60% of American workers feeling unprepared for these advancements and 35% fearing potential job loss.
Julia Grace Samoylenko, CEO of Asteri, a technology company known for its AI platform Asteri.Mind, cautions against the assumption that AI alone will solve all workforce challenges. “The primary risk lies in thinking that AI will answer all questions. Companies must understand that the mere addition of these tools will not be sufficient for success,” she asserts.
The implications of AI-driven job displacement are already becoming evident. Approximately 14% of workers globally have experienced job displacement due to AI, and 50% of companies have integrated AI technologies. Samoylenko stresses the importance of ethical AI deployment and proactive upskilling initiatives, stating, “There are ethical concerns for AI. The private sector must take steps to help their workforce acquire new AI-centric skills, using technology advancements to enhance productivity and efficiency.”
The necessity for comprehensive retraining is clear. It’s estimated that 120 million workers will require retraining over the next three years. Samoylenko’s vision for Asteri aligns with the World Economic Forum’s call to reskill half of the global workforce by 2025, establishing Asteri as a significant player in the evolving skills-centric talent revolution.
While AI is expected to displace a considerable number of jobs, it is also projected to create 133 million new jobs, resulting in a net increase of 58 million jobs. Sectors such as healthcare, education, and the public sector are anticipated to experience significant job growth. Samoylenko emphasises that upskilling the existing workforce is imperative. “To harness the benefits of AI, we need a workforce capable of utilising AI and other emerging technologies effectively,” she explains. “Building the workforce of the future with the talent we already have results in significant productivity gains and reduces downtime associated with layoffs.”
The rapid pace of technological advancement necessitates equipping employees with new skills to remain relevant and competitive. Comprehensive upskilling and reskilling initiatives enable workers to transition to roles less vulnerable to automation, enhancing their productivity and leveraging AI to their advantage. Addressing employees’ concerns and imparting knowledge about AI can also mitigate negative sentiments and foster a more inclusive workforce.
Traditional skill assessment methods—such as assessment centres, manual inputs, surveys, and consulting—pose limitations due to their resource intensity and potential for bias. Asteri’s AI-driven approach offers a more efficient alternative. By continuously identifying actively practised skills, existing skill gaps, and forecasting future skill demands, Asteri’s technology facilitates targeted training initiatives that align more closely with the evolving job market.
AI can introduce transparency to skill assessments, effectively reducing biases. By standardising evaluation criteria and leveraging data-driven insights, AI ensures fairer and more impartial assessments. Samoylenko believes that addressing existing inequalities through a transparent AI assessment system ensures equitable treatment of all employees, removing human prejudices.
“The rapidly evolving landscape requires innovative approaches to workforce management,” concludes Samoylenko. “Addressing current challenges and preparing companies to thrive in an AI-driven future is paramount.”
About Asteri: Founded in Palo Alto, California, Asteri specialises in managing evolving skill sets within enterprise workforces using AI technology. With over a decade of experience with Fortune 500 companies, Julia Grace Samoylenko leads Asteri in transforming digital traces of employee work into evidence-based skills data. Their AI engine enhances the accuracy of skill extraction, inference, and prediction, supporting companies in addressing AI-related concerns and fostering a talent revolution in line with global reskilling initiatives.
