The underestimation of our own skill set due to inherent bias was one of the surprising findings from this pilot study catalysed by the Consumer Industries of the World Economic Forum in collaboration with Unilever, Walmart, Accenture and SkyHive (a start-up that uses AI to map skills and match workers to opportunities). The pilot aimed to close skills gaps by giving a truer picture of just how talented workers are and how they could transition into emerging job roles.
One in five workers are employed by consumer industries that produce, sell and distribute goods and services for billions of consumers worldwide.
But the workforce is facing a ‘double disruption’ from automation and the economic impact of COVID-19, which were catalysts for the pilot.
By 2025, 85 million jobs may be displaced by machines, according to the Forum’s Future of Jobs Report 2020, but 97 million new roles may emerge that are more adapted to the new division of labour between humans, machines and algorithms.
For workers set to remain in their roles, the share of core skills that will change in the next five years is 40%, and 50% of all employees will need reskilling.
“In the Fourth Industrial Revolution, it’s imperative that companies upskill workers. With one in five workers being employed by the Consumer industries, organizations are uniquely positioned to shape a prosperous future for both business and society,” says Zara Ingilizian, Head of Consumer Industries and Future of Consumption Platform at the World Economic Forum.