65% Of Workers Believe Technology Will Improve Their Future Job Prospects

From sci-fi films to political campaigns, the fear that automation will take over human jobs en mass is nothing new. But with the growing power of Artificial Intelligence (AI), many media outlets suggest that technology is on the verge of a genuine takeover.

New data seen by Moneyzine.com suggests that these reports are at best premature. While many workers do believe existing jobs will be replaced, the majority believe their future is actually brighter thanks to technology.

Workers aren’t scared of automation

A large-scale study recently surveyed 10,000 workers from China, India, Germany, the US and UK. Asked how they feel about the future of work, 37% say they are ‘excited’, 36% say they are ‘confident’ - and just 18% say they are ‘worried’.

This optimism is driven in large part by workers’ perception of technology. Rather than taking over jobs, most expect automation to make work better. 73% believe technology can never replace the human mind. And most strikingly, 65% of workers believe technology will actually improve their future job prospects.

Workers’ concern appears to be less about the impact of technology - and more about how their specific employer engages with it. Only 30% of respondents said they’re concerned about their role being replaced by technology in the next three years. But 39% said they’re concerned about not getting sufficient training in digital and technology skills from their employer.

Only 40% of employees said their company is upskilling, and only 26% said their employer is automating or enhancing work through technology. This suggests that workers’ optimism about the future is based on an assumption that either their employers will increase the support they offer - or the employee will find a new job.

The real digital skills gap

Much has been made of the ‘digital skills gap’, where employees lack the abilities necessary to make use of cutting-edge digital technology. 81% of UK employers say the ‘digital skills gap’ is hurting their business, while a lack of digital skills is expected to cost U.S. employers 8.5 trillion dollars by the end of the decade.

This data suggests that the current narrative gets this skill shortage backwards. The problem may not be employees’ digital skills - but employers’ ability and willingness to provide adequate training.

74% of employees are ready to learn new skills or completely retrain in order to remain employable in the future; 70% would even consider using treatments to enhance their brain and body if this improved employment prospects in the future. But 76% of workers currently don’t have access to the resources to learn digital skills.

Fears about automation have often been framed around human obsolescence. But this data suggests human workers are very much ready to adapt to a future where technology plays a larger role. All they need is the support and training to ensure they can do that.

Luke Eales, CEO of Moneyzine.com