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Microsoft and LinkedIn release the 2024 Work Trend Index on the state of AI at work
Thursday, May 16, 2024
New data shows most employees are experimenting with AI and growing their skills -- now, the job of every leader is to channel this experimentation into business impact
REDMOND, Wash., May 8, 2024 /PRNewswire/ -- On Wednesday, Microsoft Corp. and LinkedIn released the 2024 Work Trend Index, a joint report on the state of AI at work titled, "AI at work is here. Now comes the hard part." The research -- based on a survey of 31,000 people across 31 countries, labor and hiring trends on LinkedIn, trillions of Microsoft 365 productivity signals, and research with Fortune 500 customers -- shows how, just one year in, AI is influencing the way people work, lead and hire around the world. Microsoft also announced new capabilities in Copilot for Microsoft 365, and LinkedIn made free more than 50 learning courses for LinkedIn Premium subscribers designed to empower professionals at all levels to advance their AI aptitude.(1)
The data is in: 2024 is the year AI at work gets real. Use of generative AI at work has nearly doubled in the past six months. LinkedIn is seeing a significant increase in professionals adding AI skills to their profiles, and most leaders say they wouldn't hire someone without AI skills. But with many leaders worried their company lacks an AI vision, and employees bringing their own AI tools to work, leaders have reached the hard part of any tech disruption: moving from experimentation to tangible business impact.
"AI is democratizing expertise across the workforce," said Satya Nadella, chairman and CEO, Microsoft. "Our latest research highlights the opportunity for every organization to apply this technology to drive better decision-making, collaboration -- and ultimately business outcomes."
The report highlights three insights every leader and professional needs to know about AI's impact on work and the labor market in the year ahead:
-- Employees want AI at work -- and won't wait for companies to catch up:
Seventy-five percent of knowledge workers now use AI at work. Employees,
many of them struggling to keep up with the pace and volume of work, say
AI saves time, boosts creativity, and allows them to focus on their most
important work. But although 79% of leaders agree AI adoption is
critical to remain competitive, 59% worry about quantifying the
productivity gains of AI and 60% say their company lacks a vision and
plan to implement it. So, employees are taking things into their own
hands. 78% of AI users are bringing their own tools to work -- Bring
Your Own AI (BYOAI) -- missing out on the benefits that come from
strategic AI use at scale and putting company data at risk. The
opportunity for every leader is to channel this momentum into business
impact at scale.
-- For employees, AI raises the bar and breaks the career ceiling: Although
AI and job loss are top of mind for many, the data offers a more nuanced
view -- one with a hidden talent shortage, employees eyeing a career
change, and massive opportunity for those willing to skill up on AI. A
majority of leaders (55%) are concerned about having enough talent to
fill roles this year with leaders in cybersecurity, engineering and
creative design feeling the pinch most. And professionals are looking.
Forty-six percent across the globe are considering quitting in the year
ahead -- an all-time high since the Great Reshuffle of 2021. A separate
LinkedIn study found U.S. numbers to be even higher with 85% eyeing
career moves. Although two-thirds of leaders (66%) wouldn't hire someone
without AI skills, only 39% of users have received AI training from
their company and only 25% of companies expect to offer it this year.
So, professionals are skilling up on their own. As of late last year,
we've seen a 142x increase in LinkedIn members adding AI skills like
Copilot and ChatGPT to their profiles and a 160% increase in
nontechnical professionals using LinkedIn Learning courses to build
their AI aptitude. In a world where AI mentions in LinkedIn job posts
drive a 17% bump in application growth, it's a two-way street:
Organizations that empower employees with AI tools and training will
attract the best talent, and professionals who skill up will have the
edge.
-- The rise of the AI power user -- and what they reveal about the future:
Four types of AI users emerged in the research -- from skeptics who
rarely use AI to power users who use it extensively. Compared to
skeptics, AI power users have reoriented their workdays in fundamental
ways, reimagining business processes and saving over 30 minutes per day.
Over 90% of power users say AI makes their overwhelming workload more
manageable and their work more enjoyable, but they aren't doing it on
their own. These users are 61% more likely to have heard from their CEO
on the importance of using generative AI at work, 53% more likely to
receive encouragement from leadership to consider how AI can transform
their function, and 35% more likely to receive tailored AI training for
their specific role or function.
"AI is redefining work, and it's clear we need new playbooks," said Ryan Roslansky, CEO of LinkedIn. "It's the leaders who build for agility instead of stability and invest in skill building internally that will give their organizations a competitive advantage and create more efficient, engaged and equitable teams."
Microsoft is also announcing Copilot for Microsoft 365 innovations to help people get started with AI.
-- A new auto-complete feature is coming to the prompt box. Copilot will
now help people who have the start of a prompt by offering to complete
it, suggesting a more detailed prompt based on what is being typed, to
deliver a stronger result.
-- When people know what they want, but don't have the right words, the new
rewrite feature in Copilot will turn a basic prompt into a rich one with
the click of a button.
-- Catch Up is a new chat interface that surfaces personal insights based
on recent activity and provides responsive recommendations. For example,
Copilot will flag an upcoming meeting and provide relevant information
to help participants prepare.
-- And new capabilities in Copilot Lab will enable people to create,
publish and manage prompts tailored to them, and to their specific team,
role and function.
These features will be available in the coming months.
LinkedIn is also providing AI tools to enable you to stay ahead in your career.
-- For upskilling. LinkedIn Learning offers more than 22,000 courses,
including more than 600 AI courses, to build aptitude in generative AI,
empower your teams to make GAI-powered business investments, or simply
to keep your skills sharp. This includes over 50 new AI learning courses
to empower professionals at all skill levels. New courses are free and
available for everyone to use through July 8. Additionally, our new
AI-Powered Coaching in LinkedIn Learning helps learners find the content
they need to grow their skills faster, with greater personalization and
guided conversational learning.
-- For career advancement. For LinkedIn Premium subscribers, AI-powered
personalized takeaways on LinkedIn Feed on posts, articles or videos
(from the article to the commentary) can also help you daily in your
career with personalized, relevant insights and opportunities including
ideas and actions you can take.
-- For job seeking. And if you're looking to change your job, we're also
making it easier and faster to find your ideal job. With new AI-powered
tools, you can now assess your fit for a role in seconds based on your
experience and skills, get advice on how to stand out, and subscribers
will also see nudges, for example suggestions for skills to build,
professionals in your network to reach out to, and more. So far, more
than 90% of subscribers who have access shared it's been helpful in job
search.
To learn more, visit the Official Microsoft Blog, the 2024 Work Trend Index Report, and head to LinkedIn to hear more from the company's Chief Economist, Karin Kimbrough.
About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.
About LinkedIn
LinkedIn connects the world's professionals to make them more productive and successful and transforms the way companies hire, learn, market and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world's first Economic Graph. LinkedIn has more than 1 billion members and has offices around the globe.
(1) Courses will be available for free until July 8, 2024.
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SOURCE Microsoft Corp.
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