How Emerging Technologies Impact the Workforce

Technology is ever-growing and ever-evolving. With it comes an increase in extremely specialized skillsets and a shift in the types of positions companies need to hire for and how they go about hiring for them.

The world around us is surrounded by technological advances, from Starbucks and pizza delivering robots to Alexa being your personal assistant for a myriad of things from turning on your favorite radio show to making a to-do list. We’re taking a closer look at AI, Cloud Migration, and Blockchain and how these technologies, in particular, may impact your business needs and hiring practices.

Prevalent Technologies in the Workforce

Artificial Intelligence (AI) is centered around the ability of machines and computers to perform some of the tasks of humans, their ability to learn from experience and patterns, and make adjustments accordingly. Industries using AI include retail, e-commerce, human resources, healthcare, and medicine among others.

Cloud Migration is the process of moving applications and data from on-site premises to a cloud.

A Blockchain consists of multiple blocks, or records, that are linked using cryptography. It is more than just Bitcoin and is becoming more prevalent in industries such as real estate, medical, financial, and rideshare. Businesses are anticipated to spend as much as $2.9 Billion on the technology in 2019.

The Impact of These Technologies on Internal Teams

Where and how people work is shifting with many employers offering increased flexibility in when and where their teams work. While some employees fear that AI will take over their jobs, at this stage, there is a more substantial shift in the types of jobs that will come about such as AI Developers and AI Engineers. As more of the repetitive tasks become less necessary for people to complete, it opens them up to new and creative ways of working and exploring other options within their company and the workforce as a whole.

The Impact of These Technologies on Hiring

The newer technological positions require complex credentials and certifications making it an extremely competitive market for candidates. It can take significantly longer to find qualified candidates in this space. When you interview a candidate who has the necessary skills to succeed in the role and within the organization, it is important to move quickly on making a formal offer.

With the competitive talent pool comes higher salaries, with AI programmers earning an average of $100,000 to $150,000 per year and AI engineers skewing higher. Blockchain engineers are commanding an average of $150,000 to $175,000 salaries. According to the U.S. Bureau of Labor Statistics, between 2018 and 2028 employment of computer and information research scientists is projected to increase by 16% and employment for computer network architects is expected to grow approximately five percent between 2018 and 2028.

If you’re looking for experts with the technical skills to continue to move your company forward, contact TRC Professional Solutions today.