AI’s Role in Shaping Sports Tech Workforce
Sports Tech and Innovation Blog – 3 Min Read
- Workforce Disruption: A recent IBM study reveals a shift in the job sector, necessitating the reskilling of 40% (1.4 billion) of the global workforce within three years.
- Augmented Roles: AI won’t replace people—but people who use AI will replace people who don’t. with entry-level positions projected to face the most substantial impact.
- Changing Skill Landscape: The once-dominant STEM skills take a back seat as user-friendly AI tools gain prominence. Soft skills like communication, teamwork, and time management emerge as the new abilities for success in the AI-fueled sports tech industry.
3 MINUTE READ.
IBM STUDY MAIN POINTS:
The sports tech industry is on the brink of a revolutionary transformation, and a recent study by IBM highlights the pressing need for reskilling within this sector. According to the study, approximately 40% of the global sports tech workforce, equivalent to around 1.4 billion individuals out of the total 3.4 billion work-capable population, will require reskilling within the next three years due to the rapid integration of artificial intelligence (AI).
Conducted in collaboration with Oxford Economics, the IBM Institute for Business Value surveyed 3,000 executives across various domains and regions between December 2022 and January 2023. An overwhelming 87% of the surveyed executives acknowledged the necessity of reskilling as AI augments job roles rather than entirely replacing them. Notably, entry-level positions in the sports tech industry are expected to experience the most significant impact by 2025.
One of the prominent challenges faced by tech organizations today is identifying the existing skills within their teams and determining areas that require augmentation through new talent acquisition. The initial step in this reskilling process involves capturing and recognizing these skills across the organization. This knowledge will guide decisions regarding the integration of new talent and the potential for internal mobility.
Interestingly, the study revealed a shift in the importance of skills. While STEM (Science, Technology, Engineering, and Mathematics) skills were once highly prioritized, AI’s evolution has contributed to their decreased significance. The study noted that the rise of user-friendly AI technology, including “no-code software development platforms,” enables individuals without extensive technical backgrounds to create prototypes and applications crucial for the tech industry.
The significance of soft skills has surged, with skills such as time management, effective communication, and teamwork capabilities ranking among the top three skills deemed vital by executives in the tech sector. This shift emphasizes the growing importance of human interaction and collaborative abilities in a technology-driven environment.
The study also emphasized the importance of providing impactful work experiences for employees, an aspect that employees prioritize alongside salary, benefits, and job security. The potential for a disconnect between executives and workers was highlighted in this regard, as executives often rank impactful work as a lower priority. The study warned that this disconnect could hinder progress if not addressed, especially as executives rush to automate various tasks. Balancing the integration of technology with meaningful work experiences for employees is crucial for long-term success.
Comparatively, the sports tech sector is projected to experience a more profound impact than previously estimated. Goldman Sachs’ March 2023 study estimated AI’s influence on approximately 300 million workers globally, yet the IBM study suggests a significantly larger impact on the sports tech workforce.
As the sports tech industry braces for the AI revolution, the key takeaway from the IBM study is clear: reskilling the workforce to align with the evolving demands of AI technology is essential for maintaining growth, relevance, and innovation. Embracing AI-powered tools while nurturing human collaboration and meaningful work experiences will be paramount in ensuring a thriving and resilient sports tech ecosystem in the years to come.
Stay tuned for more,