The fourth annual Work Trend Index published by Microsoft in partnership with LinkedIn highlights the significant impact that AI is having on the workplace and the labour market as a whole. The data shows that AI is becoming more prevalent in businesses, with AI at work becoming a reality by 2024. The report combines survey data from 31,000 knowledge workers and leaders from 31 countries, along with telemetry data and LinkedIn job and labour data, to showcase the growing importance of AI in driving growth, managing costs, and delivering value to customers. The report identifies three key themes and actions to take regarding AI’s implications for work.
Australian workers are among the strongest adopters of generative AI in the workplace, with 84% using the technology at work, higher than the global average of 75%. This adoption is driven by employees who see AI as a tool to save time, boost creativity, and focus on essential tasks. While 80% of Australian leaders agree that AI adoption is crucial to remain competitive, many are concerned about the lack of a plan and vision to implement it. Employees are not waiting for companies to catch up and are bringing their own AI tools to work. Leaders need to provide clarity on how to use AI responsibly while adhering to security and privacy requirements.
AI is beginning to impact the job market, with people eyeing career changes, available jobs, and the need for AI skills to secure employment. Australian hiring managers are planning to hire or expand their workforce in the coming year, while professionals are seeking new roles for higher wages and better work-life balance. Australian business leaders value AI skills in candidates, with many saying they wouldn’t hire someone without AI skills. However, there is a gap in AI training within companies, leading professionals to upskill on their own. Leaders need to invest in skill-building internally to gain a competitive advantage and create a more engaged and equitable workforce.
AI power users are reimagining business processes and saving time in their workdays by integrating AI extensively. These power users start their days with AI and find it makes their work more manageable and enjoyable. However, there is a need for greater engagement from business leadership to drive adoption and help employees become power users. Australian workplaces need to foster a culture of AI experimentation and training to empower employees to use generative AI effectively. The shift towards using AI for breakthrough ROI requires organisations to promote a growth mindset, leadership engagement, and knowledge transfer.
To help customers make the most of generative AI technology, Microsoft has announced new innovations in Copilot for Microsoft 365. These features include auto-complete, rewrite, Catch Up, and Copilot Lab, which provide prompting guidance and tailored support to help users add context to their AI prompts and get more out of the technology. These innovations aim to enhance the user experience by offering suggestions for completing prompts, turning basic prompts into richer ones, providing personalized insights based on recent activity, and allowing users to create, publish, and manage prompts tailored to their specific needs.