Why are companies leaning towards a skill-first AI-enabled employment model?
good morning. As AI continues to revolutionise businesses, businesses are fundamentally rethinking their 10-year workforce strategy and exploring new options.
This topic appeared during a Panel Session Last week at the Fortune Brainstorm AI Singapore Conference. Jess O’Reilly, general manager of ASEAN Business Workday, reflects how major Southeast Asian banks are considering skills-based approaches to employment.
“I was in Thailand with a huge bank a few weeks ago and they really look at the strategy of the decade and say, ‘I don’t even know if our people will do traditional full-time jobs anymore,'” O’Reilly said. Instead of planning a fixed job, banks are considering pivoting into something called the “skill economy.” Here, all projects or initiatives are treated like gig assignments. Members of the group will be selected for a specific skill set related to the project they are at hand.
Of particular note is the bank’s approach to continuous learning and reskilling. O’Reilly explained that there is always room for new people to build skills within these project teams. For example, a bank might secure 1% of the project team of employees looking for reskills. In doing so, the company ensures that fresh talent is constantly circulating into important roles.
O’Reilly raised the question: How do we use AI as a backbone to identify and match skills to the needs of our project, not just automating it? She argued that AI could make it easier for organizations to stock inventory of existing skills, identify opportunities, and create space for new talent through gig-style projects.
Perhaps gig-based workplaces will inject diversity into their daily lives. And many companies are considering moving from an employment-centric structure to a skill-focused approach. Deloitte Report“It will become an AI-enabled, skill-based organization.” The company finds that companies that integrate both AI and skill-based approaches are better positioned to predict talent gaps, improve talent placement, maintain high performance, and reduce false employers.
An AI and skill-based approach could mean that entry-level positions are not eliminated by automation. Stead chooses new recruits for specific skill sets that can be expanded and developed.
He said job skill requirements are constantly changing, Chua said he is the head economist at APAC. LinkedInduring a panel session. “For entry-level workers, this provides an opportunity to tackle a variety of capabilities to build human-centered skills, agility and creativity,” she said.
Cheryl Estrada
sheryl.estrada@fortune.com
Leaderboard
William J. Atkins It took effect on July 28th and was appointed interim principal financial director for Restaurant, the casual dining chain BJ. SEC filing. Atkins has been a partner at consulting firm FLG Partners since 2023 and has since served as consulting CFO or advisor to clients. Previously, Atkins was the CFO of software services company Mobileum, and CFO of climate resilience data analytics company was one concern.
Daniel Berenbaum He was appointed CFO of dullstudent transport provider. Belenbaum brings 30 years of experience in financial management. He previously was the CFO of Bloom Energy at NI (National Instruments), Everspin, and held financial leadership roles at Micron and GlobalFoundries.
A big deal
In the US, over 90% of recruitment accounted for about a third of global CFO appointments, over 90% of individuals moving to new roles within the same industry.
Most new CFOs were promoted internally (59%) and have typically moved forward from VP/Senior VPs in other CFO title roles or finance positions. External recruitment accounted for 41% of bookings. The average age at the time of booking was 51 years old, peaking in my mid-50s.
A third (29%) of our recruitment are first-time CFOs, suggesting that the committee prefers veteran financial leaders.
Public companies remained influence, but the majority of appointments (approximately 72%) were in private and PE-backed companies, reinforcing the key role of private capital in the CFO landscape.
Overall, the US, according to the report, reflects a mature market in which the inherent growth in healthcare and technology drives the demand for healthcare and technology for experienced sector-savvy financial leaders. The talent pool is deep, competitive and in high demand. It remains to be seen whether these trends will continue in 2025.
Go deep
“The US and EU will reach a trade agreement that sets a 15% tariff rate and pledges to invest hundreds of billions.” luck Report Jason MA.
From the report: “The US and the European Union have agreed to terms of trade, including a 15% rate for most EU products and investments of hundreds of millions of dollars in the US industry.
President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to resolve the agreement.
Trump said the EU would invest $600 billion in the US and buy $700 billion in US energy. He also said the EU would “open the country with zero tariffs.” Von Der Leyen said the 15% rate was “all inclusive,” but Trump later said that while not for automobiles, it doesn’t apply to medicines or metals. ”
I’ve heard it
“I ask them what makes them more effective. Basically, what are your weaknesses? And you’ll be surprised at people who can’t answer that.”
—Kelli Valade, CEO of Denny’s Corporation; I said luck An important question she asks job seekers at the end of the interview.