Why it’s time to revisit the value and meaning of work in the age of AI

In today’s world, governments are often elected based on people’s need for security and the knowledge that they can provide for themselves and their families. Many Western societies must cope with meeting these needs while simultaneously driving economic growth under the influence of rapid changes and technological advancements. In this environment, people's view of life and work is also undergoing a shift.

At its most basic level, the act of working is a fundamental aspect of human activity. It plays a significant role in how people earn a living, shaping their lives and contributing to functioning economies and cohesive societies.

But the labour market is also fluctuating due to macrotrends such as social and cultural changes, generational and demographic changes, and advances in technology. As a result, how many people see work today is different than even just a few years ago.

Work can manifest itself in different ways to different individuals and communities, but increasingly, the common thread is for work to be more than just a source of financial gain. For many people, it can now also give a sense of fulfilment, purpose and meaning, increasing everyone's chances of equity.

Aligning work with personal values and fostering a sense of belonging is crucial for social cohesion. In a world where the boundaries between home and office often blur, people are looking for ways to align their values with their working lives. But as much as individuals need to take agency over their own lives, organizations also have a responsibility to create a company culture that is inclusive, agile and meaningful for people.

A values-based company culture that is also aligned with company vision and strategy should be a key part of the foundation of every organization. This includes showing an open commitment to values like respect and openness, but also to innovation.

Within these company cultures it is also important to create an environment that encourages personal and organizational growth and development, so people and businesses remain resilient and competitive during the digital transformation. Forming private-public collaborations with initiatives like the World Economic Forum's Future of Work, Good Work Alliance and the Reskilling Revolution, for example, helps businesses and other organizations to learn from each other and share best practices.

The more people have access to the tools and reskilling or upskilling opportunities they need to be successful and remain relevant in the global workforce, the lower the risk of an increase in social inequity. Further, the more businesses increase trust through transparency and positive impact, the more we can boost overall wellbeing.

Many regions around the world are experiencing an economic downturn and struggling with a lack of skilled workers at the same time. But by 2030, an estimated 170 million new jobs will be created, with 92 million jobs being displaced. Part of today's challenge is to determine what these new roles are, which ones are changing, and what is effecting the change.

In particular, artificial intelligence (AI) is having a transformative effect on the way we learn, live and work. The good news is that there is potential for AI to support an ageing and shrinking workforce, increase organizational productivity and accelerate the speed of digital transformation. The bad news is that this technology does not come without ethical and security concerns, and we must address them.

There is a growing fear that humans will be replaced by machines and AI. At its best, AI should be used to empower people – to augment human intelligence and boost efficiency and productivity – not replace them. It is important to embed AI in trusted, regulated ecosystems to assist in monitoring and measuring scalable return on investment, diligent implementation (under the EU’s AI act and other high-quality, reliable standards) and meaningful intention – thinking of people and impact first.

Organizations must implement guardrails or ethical standards and guidelines for the responsible, secure and compliant use of AI. We must be committed to encouraging an AI-literate, competitive, future-ready workforce in which humans and machines collaborate for the benefit of humans.

We are all affected by the rapidly changing world. To create economic stability society for all, everyone must be able to contribute. We can no longer afford to exclude whole communities or ignore the benefits brought by diversity. We need these unique perspectives to solve the challenges the world is currently facing. It is time to collaborate on this common goal.

Revisiting the way we work and adapting it to our current environment is a good first step towards this. The speed of change around us requires flexibility and a quick evaluation of how we work so that people and organizations can thrive. Are your actions having a positive impact? Is your way of working still working for you and your business? Do you and those you are responsible for have the necessary tools to succeed and be prosperous?

If we don't embrace this now, we will jeopardize our future. But tough ethical considerations about issues such as AI must not be ignored. No amount of progress is worth it if it does not happen with purpose and good intentions – with people and for people.