It’s been just a year since Generative AI (Gen AI) became a headliner, and the year 2024 is projected to be the transitional year for the rather new advancement across verticals. In fact, Deloitte predicts that in 2024, almost every enterprise software company will embed Gen AI in at least some of their products or services.

Gen AI is truly revolutionizing how we think and work. According to the McKinsey report, Gen AI could automate tasks that currently make up up to 30% of hours worked across the US economy. Amid AI-driven workforce disruptions, focusing on upskilling and reskilling becomes a critical aspect of organizational success, and L&D leaders must seize the chance to reshape work dynamics positively. 

As we draw curtains on 2023, the BIG question for every CLO and L&D leader is to define their priorities for the coming year. In this blog, we dive deeper into the top 3 priorities for leaders that will shape the trajectory of learning and development initiatives in the coming year.

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1 Keeping up with in-demand skills and career growth

 

The need of the hour for organizations is how they manage talent and structure work. 83% of HR leaders say they struggle to find enough talent with the skills they need, according to a recent Gartner report. The shift towards a skills-based approach demands the need for a skill-based workforce over a job-role specific workforce. In times when the skills gap is widening, organizations need to focus on skill development. Organizations and employees must assess and measure the outcomes of skills-based learning to align with strategic goals, enabling employees to pursue new opportunities and advance their careers by acquiring and demonstrating relevant qualifications.

2 Prioritizing reskilling over upskilling

 

In an effort to navigate today’s dynamic market, many organizations have already begun to implement reskilling and upskilling programs in the past few years. However, with the AI revolution, the dynamics are changing rapidly as well. According to a recent HBR study, upskilling alone will not suffice. While employee development is still at the heart of this shift, the AI revolution, technological advancements, and innovation can’t be denied. For Gen AI and other technologies to be successful, the workforce needs to know how to use and make the most of them. 

“In the coming decades, millions of workers may need to be entirely reskilled—a fundamental and profoundly complex societal challenge that will require workers not only to acquire new skills but to use them to change occupations.” Source: HBR

 

3 Nurturing strong leadership that goes beyond the norms

 

There has never been a more critical time for leaders to demonstrate purpose, vision, strategy, and empathy than now, as Gen AI shakes up the economy. Gartner states “Leader and Manager Development” as the top priority for L&D leaders in 2024 owing to the pressure for operational efficiency and transformative technology innovations. Organizations must invest in their leaders and their teams to navigate uncertainties while staying productive and coming out stronger. This means learning new skills that go beyond the C-Suite, being more engaged and committed, and having the ability to handle challenges and do well in the future.

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In a nutshell, one resounding truth echoes — the role of L&D leaders has never been more pivotal in the dynamic era governed by AI. The top priorities for L&D leaders in 2024 go beyond conventional boundaries, urging them to support learning that transcends, adapts, and propels organizations toward a future where knowledge is power and adaptability is key.

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Authors: Pravin Kulange and Amit Kaveeshwar