If you think technology has rapidly changed the workplace, you haven’t seen anything yet, according to data analytics expert Aneel Bhusri, Workday co-founder and CEO. The advent of artificial intelligence and machine learning is creating a paradigm shift that will affect workers in every sector.
Speaking with CNBC’s Squawk Box at the World Economic Forum in Davos on Thursday, Bhusri had a powerful message for employers everywhere: “The genie is out of the bottle. AI technology is in play and companies are going to use it, or else they won’t remain competitive. But it’s going to create a skills gap. Companies need to be prepared for the massive retraining that lies ahead.”
He compares the trend to what happened when America’s agrarian economy radically shifted during the Industrial Revolution. “During that period it didn’t go well for a generation of farmers, nor unskilled workers.”