Master the AI Wave: The Weekly Digest

This weeks AI news insights

“To build a resilient, future-ready workforce, companies must embrace AI responsibly by upskilling employees, fostering internal mobility, and communicating transparently about AI's impact. With these steps, businesses can empower teams to thrive alongside AI, maximizing both human and technological potential.”

At Leadership Academy.AI, we're committed to not just participating in the future, but actively shaping it. Generative AI continues to evolve rapidly, with several major announcements shaping the landscape in September 2024. Here’s what’s new and noteworthy in AI:

1. AI Investment Accelerates: Global Deal Counts Reach 2-Year High In Q3 2024, global AI deal volumes surged to 1,245, marking the highest level since Q1 2022. This 24% year-over-year growth contrasts with a 10% decline in the broader investment market, highlighting strong investor confidence in AI. Notably, the average AI deal size increased by 28% in 2024, rising from $18.4 million in 2023 to $23.5 million. U.S.-based AI startups attracted $11.4 billion across 566 deals, accounting for over two-thirds of global AI funding.(Source: VentureBeat)
2. Google Integrates Real-Time Search into Gemini AI Platform On October 31, 2024, Google introduced "Grounding with Google Search," enabling its Gemini AI platform to access current information from Google Search. This feature allows developers to enhance AI applications with up-to-date search data, including citations and sources. The service is priced at $35 per 1,000 queries, reflecting the substantial computing resources required for real-time AI search (Source: VentureBeat )
3. The Great AI Masquerade: Distinguishing True AI Agents from Automation The article discusses the proliferation of AI agents in the tech industry, emphasizing the importance of distinguishing genuine AI agents from sophisticated automation systems. True AI agents can independently research, reason, make decisions, and take actions to achieve goals, exhibiting full process autonomy. In contrast, automation systems follow predetermined actions based on specific conditions and lack the adaptability of true agents.(Source: VentureBeat )
4. AI Investment Accelerates: Global Deal Counts Reach 2-Year High In Q3 2024, global AI deal volumes surged to 1,245, marking the highest level since Q1 2022. This 24% year-over-year growth contrasts with a 10% decline in the broader investment market, highlighting strong investor confidence in AI. Notably, the average AI deal size increased by 28% in 2024, rising from $18.4 million in 2023 to $23.5 million. U.S.-based AI startups attracted $11.4 billion across 566 deals, accounting for over two-thirds of global AI funding. (Source: Artificial Intelligence News)
5. Google Integrates Real-Time Search into Gemini AI Platform On October 31, 2024, Google introduced "Grounding with Google Search," enabling its Gemini AI platform to access current information from Google Search. This feature allows developers to enhance AI applications with up-to-date search data, including citations and sources. The service is priced at $35 per 1,000 queries, reflecting the substantial computing resources required for real-time AI search.(Source: Artificial Intelligence News)
6. The Great AI Masquerade: Distinguishing True AI Agents from Automation The article discusses the proliferation of AI agents in the tech industry, emphasizing the importance of distinguishing genuine AI agents from sophisticated automation systems. True AI agents can independently research, reason, make decisions, and take actions to achieve goals, exhibiting full process autonomy. In contrast, automation systems follow predetermined actions based on specific conditions and lack the adaptability of true agents.
7. Anthropic Advocates for AI Regulation to Prevent Catastrophes Anthropic, an AI safety and research company, has called for comprehensive AI regulation to avert potential catastrophic outcomes. The company emphasizes the need for safety testing, monitoring, and the implementation of "kill switches" for malfunctioning AI systems. Anthropic supports legislative efforts that balance innovation with safety, aiming to establish frameworks that prevent misuse and ensure responsible AI development.(Source: Artificial Intelligence News)
8. Industry Leaders Support Open-Source AI Definition Prominent figures in the AI industry have endorsed a clear definition of open-source AI, advocating for transparency and accessibility in AI development. This initiative aims to prevent "open washing," where companies falsely claim their AI models are open-source. The definition emphasizes the importance of disclosing training data, model architecture, and weights, ensuring that AI systems are genuinely open and can be freely used, modified, and shared.(Source: The Verge)
9. Meta's Generative AI: A Goldmine for AdvertisingMeta has introduced generative AI tools designed to revolutionize advertising by creating personalized and engaging content. These tools enable advertisers to generate multiple ad variations quickly, tailoring content to specific audiences and improving engagement rates. By automating parts of the creative process, Meta aims to enhance the efficiency and effectiveness of digital advertising campaigns.( Source: Economic Times)
10. ChatGPT Now Offers Internet Browsing Capabilities OpenAI has updated ChatGPT to include internet browsing capabilities, allowing the AI to access and retrieve up-to-date information from the web. This enhancement enables ChatGPT to provide more accurate and current responses, expanding its utility across various applications. The browsing feature is available to paid subscribers and is expected to roll out to all users in the coming weeks.  ( Source: The Verge)

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Navigating AI in the Workplace - Key Takeaways from the 2024 Global Workforce of the Future Report

The 2024 Global Workforce of the Future report by The Adecco Group offers key insights into how AI is shaping the workforce, skills development, and internal mobility. Drawing from the perspectives of 35,000 employees across 27 countries, this report highlights actions that businesses can take now to build a resilient, future-ready workforce.

1. Preparing Workers for AI’s Disruptive Impact

As AI technology reshapes jobs, many employees are concerned about job security and skill relevance. The report reveals that 40% of workers feel uncertain about long-term security, and 13% report job displacement due to AI. This underscores the need for businesses to provide workforce support that fosters adaptability to AI’s evolving role.

Key Action: Employers need to communicate clearly and consistently on how AI will affect various roles, while offering training to help employees manage these changes positively. This approach will not only reduce anxieties but also keep teams engaged as they navigate AI-driven shifts.

2. Upskilling to Cultivate a Future-Ready Workforce

The report spotlights a proactive group of “future-ready” workers—just 11% of the workforce—who demonstrate adaptability, leadership, and a commitment to mastering AI tools. Despite the rapid adoption of AI, only 25% of workers have received any formal AI training, leaving a significant training gap.

Key Action: Employers must invest in structured, personalized development plans that emphasize AI and soft skills training. Upskilling employees in areas relevant to their roles can empower a larger portion of the workforce to adapt to new technologies and enhance long-term value.

3. Fostering Internal Mobility to Address Skill Gaps

Workers increasingly value internal growth opportunities, with 76% advocating for upskilling to fill roles before hiring externally. Despite this, only 52% of business leaders report strategies to promote internal mobility, indicating a gap in development practices that may lead to talent loss.

Key Action: Organizations should implement structured internal mobility pathways, which include mentorship, career pathing, and ongoing skill development. Prioritizing internal talent development not only improves retention but also reduces hiring costs by maximizing existing resources.

4. Maximizing Human Potential Through AI

With AI integrated into daily workflows, employees report saving nearly one hour daily, which could be allocated to high-value tasks. However, only 28% of employees are redirecting this time toward creative and strategic work, indicating an opportunity to better leverage these gains.

Key Action: To maximize productivity, managers should model effective use of AI to drive strategic initiatives, and provide on-the-job guidance on how to apply AI in innovative ways. This empowers teams to use AI as a tool to amplify human potential rather than simply replace manual tasks.

5. Building Trust in AI and Addressing Mental Health

Trust in AI, particularly in recruitment and assessments, remains a concern for employees who fear being overlooked for positions or advancement opportunities. Additionally, high burnout rates persist, especially among those anxious about AI’s impact on their roles.

Key Action: Employers should develop clear ethical frameworks for AI use, prioritizing transparency, data privacy, and inclusiveness. Leaders must communicate the organization’s commitment to fair AI applications, particularly in recruitment and evaluations, to alleviate employees’ concerns about job security and foster a healthy work environment.

Recommendations for Employers to Build an AI-Ready WorkforceT

To embrace AI effectively and create a skilled, resilient workforce, the report recommends these steps:

Assess - Regularly evaluate skills needs and identify gaps where technology intersects with key roles.

Communicate - Keep the workforce informed on AI’s impact, encouraging dialogue on the opportunities and challenges.

Develop - Provide personalized career plans that align with both the company’s needs and employees’ goals.

Train - Make upskilling a core component of your strategy by focusing on AI literacy, technical skills, and soft skills.

By implementing these practices, companies can create a workforce that is not only capable but also confident in an AI-driven landscape. Such an approach will not only help attract top talent but also position your organization as a leader in innovation.

Final Thoughts: Putting People First in an AI-Driven World

AI will continue reshaping industries, but with the right strategies, companies can lead with a people-first approach. Prioritizing workforce upskilling, promoting internal mobility, and building trust around AI use are the keys to long-term success.

If your organization is ready to embrace these changes and foster an AI-enabled culture, reach out to Leadership Academy to learn more about our specialized training programs.

See you on the journey. xx

Alexie

#GenerativeAI, #AIspeedexecution, #AIinbusiness, #AIanddata, #AIinnovation, #AIworkflows, #AIproductivity, #aiskills, #aitraining.