5 reasons to invest in AI training for your team

Por staff
18/07/2024

By: Nadeen Matthews Blair is the CEO of Crescent Advisory Group.

A recent Microsoft and LinkedIn 2024 Work Trend Index Annual Report has unveiled a startling trend: while the use of generative AI has nearly doubled in the last six months, with 75 per cent of global knowledge workers now utilising these tools, a significant training gap exists as only 39 per cent of people globally who use AI at work have received AI training from their company and 78 per cent are bringing their own AI tools to work!!

Essentially, employees have the “car keys” to powerful AI tools, but many lack the necessary “training or license” to drive them effectively.

If this were the case with our children and the keys to our actual car, some of us may choose to try to hide the ‘car keys,’ and punish, while some parents would opt to enroll our children in driver’s education, discuss how to be safe while driving, ensure they are licensed, accompany them while driving, and perhaps purchase a very safe vehicle for them to drive when ready. Which camp are you in?

According to the groundbreaking Microsoft and LinkedIn 2024 Work Trend Index Annual Report:

Users say AI helps) and save time (90 per cent), focus on their most important work (85 per cent), be more creative (84 per cent), and enjoy their work more (83 per cent).
78 per cent of AI users are bringing their own AI tools to work (BYOAI)—it’s even more common at small and medium-sized companies (80 per cent).
Power users are familiar to extremely familiar with AI, using it at work at least several times a week and saving more than 30 minutes a day.

How to Turn AI Training into Your Advantage

Big companies like JPMorgan Chase & Co. have recognised this issue. They recently announced that they will train every employee in AI. In 2023, PWC announced a similar drive to train all employees in AI.

Here’s why you should consider investing in AI training for your team:

Enhanced productivity and efficiency:

Power users of AI, who are well-versed in these technologies, report saving more than 30 minutes a day. This increased efficiency can significantly impact overall business operations, especially when scaled across an entire organization.

Risk management:

With the majority of AI tools being brought in by employees themselves, there’s an inherent risk related to security breaches and data protection compromises. Training can mitigate these risks by ensuring that all employees understand how to use AI tools responsibly and securely.

Competitive advantage:

Organisations that proactively train their employees on AI can differentiate themselves in the market. As noted by Jamie Dimon from JPMorgan Chase & Co., which provides AI training for new hires, preparing employees for the AI-driven future is akin to adapting to past transformative technologies like the printing press and steam engine.

Innovation and creativity:

When employees are not only familiar with AI but also trained in its potential applications, they can use these tools more creatively. This leads to innovation not just in their tasks but potentially in new products, services, and business models.

According to Mary Erdoes, head of the bank’s asset and wealth management division, JPMorgan bankers have reduced the time they spend “hunting and pecking,” using AI to call up information on potential investments and accelerate their decision-making. This has helped save some analysts between two to four hours of work each day, she said.