Microsoft and LinkedIn release the 2024 Work Trend Index on the state of AI at work

Rhea-AI Summary

Microsoft and LinkedIn released the 2024 Work Trend Index, revealing the increasing adoption of AI at work. The report shows that employees are embracing AI tools, but leaders are struggling to implement a coherent AI strategy. The data indicates a rise in professionals acquiring AI skills independently, with a significant impact on the labor market. The report highlights the emergence of AI power users who are reshaping work processes.

Positive

• The 2024 Work Trend Index reveals a surge in AI adoption at work, with users reporting time-saving benefits and increased creativity.

• Professionals are upskilling in AI independently, enhancing their career prospects and addressing talent shortages in key industries.

• The report identifies AI power users who are redefining work practices, improving productivity, and enjoying a more manageable workload.

Negative

• While employees are eager to embrace AI, many companies lack a clear vision and plan for AI implementation, leading to missed productivity gains.

• Leaders express concerns about talent shortages in key sectors like cybersecurity, engineering, and creative design, with a mismatch between demand for AI skills and company training offerings.

New data shows most employees are experimenting with AI and growing their skills — now, the job of every leader is to channel this experimentation into business impact

REDMOND, Wash., May 8, 2024 /PRNewswire/ -- On Wednesday, Microsoft Corp. and LinkedIn released the 2024 Work Trend Index, a joint report on the state of AI at work titled, "AI at work is here. Now comes the hard part." The research — based on a survey of 31,000 people across 31 countries, labor and hiring trends on LinkedIn, trillions of Microsoft 365 productivity signals, and research with Fortune 500 customers — shows how, just one year in, AI is influencing the way people work, lead and hire around the world. Microsoft also announced new capabilities in Copilot for Microsoft 365, and LinkedIn made free more than 50 learning courses for LinkedIn Premium subscribers designed to empower professionals at all levels to advance their AI aptitude.¹

The data is in: 2024 is the year AI at work gets real. Use of generative AI at work has nearly doubled in the past six months. LinkedIn is seeing a significant increase in professionals adding AI skills to their profiles, and most leaders say they wouldn't hire someone without AI skills. But with many leaders worried their company lacks an AI vision, and employees bringing their own AI tools to work, leaders have reached the hard part of any tech disruption: moving from experimentation to tangible business impact.

"AI is democratizing expertise across the workforce," said Satya Nadella, chairman and CEO, Microsoft. "Our latest research highlights the opportunity for every organization to apply this technology to drive better decision-making, collaboration — and ultimately business outcomes."

The report highlights three insights every leader and professional needs to know about AI's impact on work and the labor market in the year ahead:

• Employees want AI at work — and won't wait for companies to catch up: Seventy-five percent of knowledge workers now use AI at work. Employees, many of them struggling to keep up with the pace and volume of work, say AI saves time, boosts creativity, and allows them to focus on their most important work. But although 79% of leaders agree AI adoption is critical to remain competitive, 59% worry about quantifying the productivity gains of AI and 60% say their company lacks a vision and plan to implement it. So, employees are taking things into their own hands. 78% of AI users are bringing their own tools to work — Bring Your Own AI (BYOAI) — missing out on the benefits that come from strategic AI use at scale and putting company data at risk. The opportunity for every leader is to channel this momentum into business impact at scale.
  
  
• For employees, AI raises the bar and breaks the career ceiling: Although AI and job loss are top of mind for many, the data offers a more nuanced view — one with a hidden talent shortage, employees eyeing a career change, and massive opportunity for those willing to skill up on AI. A majority of leaders (55%) are concerned about having enough talent to fill roles this year with leaders in cybersecurity, engineering and creative design feeling the pinch most. And professionals are looking. Forty-six percent across the globe are considering quitting in the year ahead — an all-time high since the Great Reshuffle of 2021. A separate LinkedIn study found U.S. numbers to be even higher with 85% eyeing career moves. Although two-thirds of leaders (66%) wouldn't hire someone without AI skills, only 39% of users have received AI training from their company and only 25% of companies expect to offer it this year. So, professionals are skilling up on their own. As of late last year, we've seen a 142x increase in LinkedIn members adding AI skills like Copilot and ChatGPT to their profiles and a 160% increase in nontechnical professionals using LinkedIn Learning courses to build their AI aptitude. In a world where AI mentions in LinkedIn job posts drive a 17% bump in application growth, it's a two-way street: Organizations that empower employees with AI tools and training will attract the best talent, and professionals who skill up will have the edge.
  
  
• The rise of the AI power user — and what they reveal about the future: Four types of AI users emerged in the research — from skeptics who rarely use AI to power users who use it extensively. Compared to skeptics, AI power users have reoriented their workdays in fundamental ways, reimagining business processes and saving over 30 minutes per day. Over 90% of power users say AI makes their overwhelming workload more manageable and their work more enjoyable, but they aren't doing it on their own. These users are 61% more likely to have heard from their CEO on the importance of using generative AI at work, 53% more likely to receive encouragement from leadership to consider how AI can transform their function, and 35% more likely to receive tailored AI training for their specific role or function.

"AI is redefining work, and it's clear we need new playbooks," said Ryan Roslansky, CEO of LinkedIn. "It's the leaders who build for agility instead of stability and invest in skill building internally that will give their organizations a competitive advantage and create more efficient, engaged and equitable teams."

Microsoft is also announcing Copilot for Microsoft 365 innovations to help people get started with AI.

• A new auto-complete feature is coming to the prompt box. Copilot will now help people who have the start of a prompt by offering to complete it, suggesting a more detailed prompt based on what is being typed, to deliver a stronger result.
  
  
• When people know what they want, but don't have the right words, the new rewrite feature in Copilot will turn a basic prompt into a rich one with the click of a button.
  
  
• Catch Up is a new chat interface that surfaces personal insights based on recent activity and provides responsive recommendations. For example, Copilot will flag an upcoming meeting and provide relevant information to help participants prepare.
  
  
• And new capabilities in Copilot Lab will enable people to create, publish and manage prompts tailored to them, and to their specific team, role and function.

These features will be available in the coming months.

LinkedIn is also providing AI tools to enable you to stay ahead in your career.

• For upskilling. LinkedIn Learning offers more than 22,000 courses, including more than 600 AI courses, to build aptitude in generative AI, empower your teams to make GAI-powered business investments, or simply to keep your skills sharp. This includes over 50 new AI learning courses to empower professionals at all skill levels. New courses are free and available for everyone to use through July 8. Additionally, our new AI-Powered Coaching in LinkedIn Learning helps learners find the content they need to grow their skills faster, with greater personalization and guided conversational learning.
  
  
• For career advancement. For LinkedIn Premium subscribers, AI-powered personalized takeaways on LinkedIn Feed on posts, articles or videos (from the article to the commentary) can also help you daily in your career with personalized, relevant insights and opportunities including ideas and actions you can take.
  
  
• For job seeking. And if you're looking to change your job, we're also making it easier and faster to find your ideal job. With new AI-powered tools, you can now assess your fit for a role in seconds based on your experience and skills, get advice on how to stand out, and subscribers will also see nudges, for example suggestions for skills to build, professionals in your network to reach out to, and more. So far, more than 90% of subscribers who have access shared it's been helpful in job search.

To learn more, visit the Official Microsoft Blog, the 2024 Work Trend Index Report, and head to LinkedIn to hear more from the company's Chief Economist, Karin Kimbrough.

About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) creates platforms and tools powered by AI to deliver innovative solutions that meet the evolving needs of our customers. The technology company is committed to making AI available broadly and doing so responsibly, with a mission to empower every person and every organization on the planet to achieve more.  

About LinkedIn
LinkedIn connects the world's professionals to make them more productive and successful and transforms the way companies hire, learn, market and sell. Our vision is to create economic opportunity for every member of the global workforce through the ongoing development of the world's first Economic Graph. LinkedIn has more than 1 billion members and has offices around the globe.

¹ Courses will be available for free until July 8, 2024.

 

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SOURCE Microsoft Corp.

FAQ

What is the key highlight of the 2024 Work Trend Index released by Microsoft and LinkedIn?

The key highlight of the report is the increasing adoption of AI at work, with employees benefiting from time-saving tools and enhanced creativity.

How are professionals responding to the AI trends at work according to the report?

Professionals are independently upskilling in AI to improve their career prospects and fill talent gaps in industries like cybersecurity and engineering.

What challenges do leaders face in AI implementation based on the Work Trend Index findings?

Leaders struggle with defining a clear AI strategy and providing adequate training to employees, leading to concerns about productivity gains and talent shortages.