 |
|
|
|||||
Its no surprise that artificial intelligence is transforming the way we learn, but it also has the potential to add a sprinkling of magic to on-the-job training. Turning the ordinary into the extraordinary is especially beneficial in the skilled trades. Were already seeing social media inspire the next generation of tradespeople, and AI-based learning programs can help attract, develop, and retain young talent. In the U.S., hiring for skilled roles, including electricians, industrial machinery workers, plumbers, and HVAC technicians, could be more than 20 times the projected annual increase in new jobs from 2022 to 2032. The current pipeline of skilled trades training cant keep up with the demand for workers, and a significant percentage of high school students interested in training programs find themselves on a waiting list. Employer investments in training and upskilling programs are critical in closing the labor gap. AI training requires a foundational knowledge We have already seen that AI is effective for advanced learning. It synthesizes information, translates it, and creates more personalized learning experiences. However, leveraging AIs power hinges on one critical ingredienta strong digital foundation. This is where many employers will fall short. They have traditionally relied on job shadowing, the occasional in-person classroom training, or limited online compliance training. Further, there is a common misconception that skilled workers will be able to learn in the field with an AI-enabled device as their primary means of information. These devices are useful for troubleshooting or serving as a quick reference tool, but they should only be used in conjunction with substantive foundational knowledge. The cognitive load while working makes it incredibly challenging to learn efficiently and effectively. Imagine being in a setting with safety risks, noise, and multiple distractions competing for your attention. At the same time, youre supposed to be taking in new information, acting on it, and retaining it. But, if that AI-supported in-the-field training was combined with a robust AI-driven digital foundational program, thats where the magic starts to happen. The most effective training takes place when employees have time to internalize the material, reflect on it, and review it. The need to pair AI with people A digital foundation that combines strategic assessments, core course material, bite-size learning, and digital simulations with real-world scenarios can provide the hands-on learning that is essential in the skilled trades. Whats more, all of this can be done in a safe, controlled environment. AI can communicate big ideas and take on the role of mentor, highlighting what is important, assessing skills, offering support, and providing insights into strengths and weaknesses. AI can serve as a personal learning guide, but it can’t provide emotional support and won’t replace people. Instead, great teachers will use AI along with digital learning to make their emotional interaction more useful. AI is advancing at a rapid pace, and many CEOs are asking themselves what their organization should be doing with AI and when to jump in. The answer is to jump in now. The consequences of not adopting digital learning will only get more severe the longer they wait. Learning is essential for every role and at every age, from the Gen Zers who are increasingly skipping college to existing employees requesting upskilling tailored to their specific needs. A digital foundation is the magicor missing ingredientthat lays the groundwork for CEOs to address labor shortages, reduce risk, and increase operational efficiency within their workforce. Doug Donovan is founder and CEO of Interplay Learning.
Category:
E-Commerce
In todays evolving workforce, a growing number of individuals are embracing a new identity: the sidepreneur. These are people who, in addition to their traditional jobs, are launching entrepreneurial ventures on the side. Theyre not just taking on additional worktheyre creating new opportunities to pursue passions, build wealth, and gain control over their financial futures. From moonlighting chefs to weekend photographers, tech consultants by day, and digital creators by night, sidepreneurs are the embodiment of resilience, adaptability, and entrepreneurial spirit. The rise of sidepreneurs isnt just a reaction to economic pressures; its a reflection of how modern workers are redefining what it means to have a career. This movement is a natural response to a shifting economic landscapeone where workers are increasingly turning their skills and passions into new revenue streams. For many, this dual-pronged approach offers not only financial security but also a sense of fulfillment and independence. Who are the sideprepreners? Kivas 2024 U.S. Impact Performance Report revealed that 43% of Kiva borrowers who are U.S. small business owners indicate that their business is a second job or venture. And recent findings from Deputy’s 2024 State of Hourly Work Report reveal that 27% of U.S. hourly workers now hold two or more jobs, with Gen X leading at 33%, followed by millennials, Gen Z, and boomers. Looking at this from both angles it is clear: The sidepreneur movement is real. This movement reflects a broader, structural change. As financial pressures and the desire for flexibility grow, workers of all ages are embracing a multi-job lifestyle, redefining work norms, and creating a diverse labor landscape. The growth of the sidepreneur movement is supported by the ever-growing gig economy, advances in technology, and an overall shift toward improved mental health and wellbeing. A side business often allows people to blend their passions with professional pursuits, but to succeed they need support. To succeed, sidepreneurs need access to capital With unpredictable income and mounting responsibilities, many sidepreneurs struggle to access capital, especially when financial systems remain geared toward traditional credit metrics. Approximately 26 million adults in the U.S. (nearly 10%) are considered credit invisible, lacking the credit history to secure traditional financing. Maria Cortes, founder of Tucson-based, Latina and woman-owned brand Di Luna Candles, is an example of that. In 2020, she turned a hobby into a business, all while she was as an essential worker at a bank. From the start, my mother taught me to be independent, responsible, and to always have a growth mindset, she told Kiva. In order to pursue her dreams, Maria needed capital, which is usually challenging to come by for small startups. This is where Kiva steps in. Kivas microlending platform provides vital financial access to sidepreneurs, who often lack traditional banking resources. Maria received a $5,000 zero-percent interest, zero-fee Kiva loan in July 2022. “Being able to get that capital [from Kiva] was the start of it all,” Maria shared. “My first year, I made about $15,000. My second year, after getting the Kiva loan, I grew that total by about 400%. The third year, I grew it about another 190%.” Marias story isnt just a testament to growth; its an illustration of how accessible financing can unlock new pathways to economic opportunity and to power sidepreneurs to succeed. Her story illustrates what Kiva has seen from thousands of borrowers: 83% report improved business success since receiving their loans, and 62% believe Kiva has enhanced their chances of achieving their primary business goals. Additionally, 80% have improved their confidence in managing finances, and 65% report increased revenues. Maria has since opened a Di Luna Candles + Goods storefront in Tucson and is running her thriving business full-time. Navigate the challenges of sidepreneurship While sidepreneurship offers financial opportunities and creative outlets, its not without challenges. Modern-day realities of high costs of living, stagnant wages, and limitations such as access to healthcare often create an environment where innovators must turn to sidepreneurship, in lieu of pursuing their business goals full-time. According to Deputy’s research, nearly 41% of hourly workers live paycheck-to-paycheck, making the balancing act of multiple jobs even more taxing. Sidepreneurs are reshaping the workforce, and businesses need to get ready for this generational shift. Businesses that offer flexibility, supportive work environments, and training will do much better in attracting this emerging sidepreneur workforce. Embrace the sidepreneur workforce The rise of sidepreneurs signals a profound shift in the workforceone that forward-thinking leaders cannot afford to ignore. These part-time innovators embody resilience, adaptability, and untapped potential, offering businesses a unique opportunity to engage a motivated, entrepreneurial talent pool. By investing in tools, resources, and policies that empower sidepreneurswhether through flexible work arrangements, financial access, or professional developmentbusinesses can fuel this growing movement and reap the rewards of a more diverse and dynamic workforce. Businesses can foster an economy where part-time entrepreneurs can grow into full-time business owners. Supporting sidepreneurs isnt just good for workers; its a strategic advantage for businesses looking to thrive in the future economy. Vishal Ghotge is CEO of Kiva. Silvija Martincevic is CEO of Deputy and board member of Kiva.
Category:
E-Commerce
When the news first broke, I was appalled three times after hearing about the death of UnitedHealthcare CEO Brian Thompson. First, that this man was gunned down in the streets and his killer was at large. Second, when I learned that UnitedHealthcare rejects 33% of its claims, over five times that of competitors like Kaiser Permanente, which has a 6% claims rejection rate. Lastly, what shocked me most was seeing some people in a comedy Facebook group Im in celebrating his death. One post featured a meme saying, I hope he dies, in response to news that he was shot. I get it, late-stage capitalism is brutal and unfeeling. The instinct to not care about those who seem to care so little for us is understandable. But heres where the irony hits me: The people dancing on Thompsons grave are vilifying someone for doing the very job our system incentivized him to do. CEOs of public companies are hired to maximize profits, not to act as moral arbiters. Would I like to see more ethically-driven leadership? Absolutely. But Id wager that some of those grave dancers would reject just as many claims if it meant trading bank accounts with Thompson. Thats the laziness of this so-called revolution. The same people electing the same congresspeople who do nothing to fix our broken healthcare system are directing their rage at a single individual for being a disappointing product of the systems we voted for. A rigged system, or a reflection of us? Day after day, I hear complaints about the rigged system of the stock market. And let me be clear: I dont disagree. The deck is often stacked against retail investors. But the complaints often miss a critical point: Finance is the highest-stakes game in the world. Do we complain about the inequalities of flying coach while others enjoy first class? Why, then, do we lament trades transported in different routing classes? Heres whats more frustrating: Many of these same critics entrust their money to brokers who openly prioritize hedge fundstheir real customersover retail traders. Remember the trading halts during the meme stock frenzy? Thats the price of free trades. For the past 14 years, Ive dedicated myself to creating tools that level the playing field for retail investors. Tools that are transparent, data-driven, and free. These tools rely on live options markets to work. You know what undermines this transparency? The push for 24-hour trading. While it may sound futuristic, it primarily benefits institutional players, whose algorithms thrive in low-liquidity environments. These systems dont sleep, theyre robots designed to manipulate prices during hours when theres less liquidity, making price discovery harder for everyone else. At the end of the day, this push isnt about empowering retail investors, its about maximizing control for those already at the top. Pick up your shovel I taught myself accounting as a teenager to land my first hedge fund job. Ive spent years building a platform designed to empower everyday people. At times, Ive had no money in my bank account and had to move back in with my parents. If you want change, real change, it starts with effort, not excuses. Voting in leaders who care about healthcare reform is a start. Refusing to give your dollars and attention to companies that exploit you is another. But lets stop pretending that cynicism and complaining are substitutes for action. The death of Brian Thompson is not a revolution, even if you think his sons deserve to lose their father. And perhaps even if more billionaires deserve to die, that is not going to solve the systemic problems that will just replace those billionaires with other billionaires. Real change requires picking up your shovel and holding your elected officials accountablenot dancing on graves. A final thought If we truly want to revolutionize our systems, it starts with usour choices, our votes, and our willingness to confront uncomfortable truths and come up with ideas that actually fix them. Until then, the lazy revolution will remain just that: lazy. George Kailas is CEO at Prospero.Ai.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||