Embrace the impact of AI on the job market and pivot toward a rewarding and in-demand career
The rapid rise of Artificial Intelligence (AI) has caused significant upheaval in the job market, resulting in sudden and long-lasting job losses for many workers. As some positions vanish, others experience a surge in demand. Now is the perfect time to reassess your career goals and consider transitioning to a more lucrative and professionally fulfilling occupation. Seize this opportunity to thrive in the new era of AI.
Strategizing for a Career Shift
Here are three key steps to help you make a successful career change:
1. Reinvent yourself by planning your next career move and acquiring or updating the skills you need.
2. Create a clear action plan to guide you through the transition.
3. Maintain unwavering focus and commitment to achieving your new career objectives.
Applying Demand & Supply Analysis to Your Career
Understanding the basic economic principles of demand and supply can significantly impact your career planning. The competition for jobs will intensify in fields with limited opportunities and a surplus of candidates, leading to higher unemployment rates or reduced salaries. In contrast, positions requiring extensive education, practice, and specialized training will remain in high demand, ensuring job security and stability. Additionally, emerging professions with few skilled candidates can offer attractive compensation packages.
Remember to think about demand and supply when planning your next career step.
Future Proof Your Career
To insulate your career from AI-induced disruptions, select a profession that aligns with your background and offers high-demand skill sets. Companies often struggle to find and hire qualified candidates in these areas, resulting in excellent job security and compensation for those who adopt.
You can research career options that fit your interests and background in several ways. Start by visiting job websites to see what opportunities are available. Look at job descriptions, pay, company culture, location, and types of roles. Check how many openings there are in your area, how much competition there is, and whether the jobs are seasonal. Also, review the required education and experience. These steps will help you understand what skills are required and what employers are looking for.
Do your research and shortlist a few options based on your interests, ambition, educational background, and work experience.
Bridge the gap between your current career and future aspirations with a strategic approach.
If you are thinking about changing careers, it’s important to compare where you are now (AS-IS) with where you want to be (TO-BE). Knowing the gap helps you make a plan to get there. Ask yourself these three questions to get started:
- Where am I?
- Where do I want to go?
- What do I need to get there?
Assessing Your Current Situation (AS-IS)
Start by looking at your current “AS-IS” status. This includes your education, certifications, work experience, career history, and skills. To change your future, you need to understand and improve your present situation.
Defining Your Future Goals (TO-BE)
Next, explore possible career options and create a “TO-BE” scenario for each. List the education, certifications, experience, and technical skills needed for each job. Gather as much information as you can to get a clear idea of what you need and make a solid plan.
Bridging the Gap Between AS-IS and TO-BE
Once you have your AS-IS and TO-BE scenarios, find the gaps and make a plan to close them. Think about the following:
- Formal Education: Some career transitions may require prerequisite education, which could extend your timeline for achieving your goals.
- Professional Certification: Certain professions mandate specific credentials or licenses.
- Work Experience: When switching to a similar field, you can leverage your experience for new opportunities.
- Skills Required: Both hard and soft skills can be beneficial, even if you lack experience in a similar profession.
- Technology and Tools: Acquiring hard skills in industry-specific technologies and tools may be essential for your new career.
- Career Option: Doing a gap analysis helps you clearly see your career options. As you gather more information about each choice, you’ll be able to pick the one that fits you best.
- Planning and Prioritizing: Once you understand the gap, determine the time, priorities, and costs required to build the necessary capabilities. Consider the opportunity cost, as well as the short-term and long-term financial returns on your investment of time and money.
| Items | Current Status | Future Expectation | GAP | Time to Build the Bridge | Cost to Build the Bridge | Dependency/ Priority |
| Education | ||||||
| Professional Certification | ||||||
| Work Experience | ||||||
| Skills Required | ||||||
| Technology | ||||||
| Tools |
Evaluating Training Options
There are many ways to learn new skills. Once you pick a new career path, reach out to training centers or schools to see what courses they offer. Check if you can start with online or remote classes. See if you enjoy the work and feel you have potential in the field. If it feels right, keep going. If not, look at other options.
What are the various resources to add and upgrade skills?
You can visit the following websites to find out if they are providing online valuable online training for you:
- www.edx.org provides around 2500 online courses from 140 institutions. MIT and Harvard founded edx.org.
- www.udemy.com is a global marketplace for teaching and learning. You can find courses to add skills.
- www.linkedin.com has an educational platform for paid subscribers. These are short courses to add to your profiles, and most of them are to improve your soft skills.
- www.udacity.com focuses on new-age technologies such as Artificial Intelligence, Data Science, Machine Learning, Digital Marketing, and many more. The site is a good learning platform for digital technologies.
- www.coursera.com is another online learning platform that focuses on courses in technology, management, and Engineering.
Take advantage of special offers from training providers. Try enrolling in a few courses to see how committed you are and how much effort it takes to learn new skills. Free trial periods can help you get used to the systems and see what skills you need. After that, you can choose the best platform and courses to help your career.
Conclusion
Take time to research career options that match your interests, education, and experience. Start by looking at job websites to see what’s out there. Check job descriptions, pay, company culture, location, and how many jobs are available. Also, look at competition, seasonality, and what education or experience is needed. This will help you understand what each job requires.
After careful consideration, narrow your options to a select few that align with your interests, ambitions, and background. By leveraging this comprehensive guide, you can confidently future proof your career in the age of Artificial Intelligence.