Impact of AI Skills in Today's Job Market, AI Talent in Tech Hubs, Business Analyst Strategies

[00:00:02] It's Friday, May 10th, 2024 and I'm Dave Sobel. Three things to know today. Transformative

[00:00:08] AI applications from saving sea turtles to boosting local economies. AI skills become

[00:00:14] more decisive. Employers' favorite candidates with AI expertise amidst a talent crunch and

[00:00:20] cultivating empathy and adaptability. Key strategies for business analysts in the

[00:00:26] age of AI. This is the Business of Tech.

[00:00:32] Google DeepMind and Isomorphic Labs have unveiled Alpha Fold 3, an AI model that predicts the

[00:00:38] structures and interactions of every life molecule, including proteins, DNA, RNA and ligands. Built

[00:00:45] on a next generation framework, Alpha Fold 3 is at least 50% more accurate than previous

[00:00:50] techniques and has the potential to advance virus treatments, bio renewables, disease-resistant

[00:00:56] crops and genomics research. The AI model will be accessible and responsible through a free

[00:01:01] beta tool and research partnerships. While concerns about restrictions and misuse exist,

[00:01:07] Alpha Fold 2 has already contributed to real-world breakthroughs.

[00:01:12] Chilean food company NACCO is using artificial intelligence to help save endangered sea turtles

[00:01:18] by creating plant-based alternatives to dishes traditionally made with turtle meat. Their

[00:01:23] AI program analyzes plant flavors to find recipes that emulate the taste of dairy and meat products.

[00:01:29] By replicating the flavor of turtle meat, NACCO aims to provide an alternative that can help protect

[00:01:35] the endangered species. President Biden praised Microsoft's new artificial intelligence center

[00:01:42] even with Skonson as a sign of a historic boom in US manufacturing and contrasted it

[00:01:47] with former President Trump's failed promise of a job-rich Foxconn plant on the exact same

[00:01:53] location. Microsoft's $3.3 billion investment is expected to create 2,000 permanent jobs

[00:01:59] and 2,300 temporary union construction jobs including investment in workforce training

[00:02:05] programs. Why do we care? I love use cases and I so bring you to useful ones to punt.

[00:02:13] These use cases illustrate the transformative power of AI across different business realms

[00:02:18] scientific research environmental sustainability and economic revitalization. They offer those

[00:02:23] storytelling for the potential of AI to solve complex problems and enhance human welfare

[00:02:28] in some tangible ways. That Foxconn plant never went anywhere, an overhyped nothing project

[00:02:35] and it's interesting to note how it can be reconstituted into a data center.

[00:02:41] Reflecting on the failed Foxconn plant versus the promising Microsoft one

[00:02:45] provides a stark lesson in the realities of tech investment and the importance of

[00:02:48] delivering on promises. The comparison not only serves as a cautionary tale but also underscores

[00:02:54] the potential for successful projects to contribute meaningfully to local economies

[00:02:58] and global challenges. Today's episode is supported by Huntress. You want to focus on

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[00:03:56] According to a study by LinkedIn and Microsoft, more workers are looking to

[00:04:00] leave their jobs now than during the Great Resignation. The studies surveyed 31,000

[00:04:06] individuals across 31 countries and found that 46% of people want to quit their jobs in the year ahead

[00:04:12] higher than the 40% in 2021. Burnout, lack of learning opportunities and artificial

[00:04:18] intelligence were identified as reasons behind the increase in workers seeking new

[00:04:22] opportunities. Employers should prioritize employee retention and provide learning

[00:04:27] opportunities to address the concerns. Additionally, three in four workers are

[00:04:31] using generative AI in the workplace with 46% starting to use AI in the last six months.

[00:04:37] Workers reported that AI saves them time and boost creativity.

[00:04:41] Some have concerns about being replaced by AI. Despite the concerns, business leaders value

[00:04:46] AI skills and are willing to hire less experienced candidates with AI knowledge.

[00:04:52] And according to job posting data, while overall job postings have declined,

[00:04:56] there's been a 15.7% increase in AI related job postings. It presents an opportunity for talented

[00:05:03] workers, poses a challenge for companies with AI skills gaps. Companies like Metta and Open AI

[00:05:09] are competing for top AI talent, offering highly inflated salaries. Job seekers with AI

[00:05:15] skill sets are in high demand. Washington DC has emerged today leading tech hubs

[00:05:21] surpassing Silicon Valley and New York City in total tech job postings, according to CompTIA's

[00:05:27] latest breakdown of the jobs market. Presidents of the federal government, local contractors,

[00:05:32] and major corporations like Google, Amazon, and Microsoft have contributed to the growth

[00:05:36] of the tech scene in the DC area. Other tech hubs across the country, such as Texas Cities,

[00:05:42] have also seen robust hiring by attracting startups, incubators,

[00:05:46] and investment from larger tech companies. And for job seekers, I'll highlight a piece

[00:05:52] in Business Insider that discusses the impact of moving away from big cities on one's career.

[00:05:57] It highlights that living at large labor markets improves job opportunities and career growth

[00:06:03] while smaller markets can limit career options. The pandemic-induced remote work

[00:06:08] trend initially gave professionals the freedom to move away. The decline in remote job

[00:06:13] opportunities has put those who left big cities at risk. The article emphasizes the

[00:06:18] benefits of being in a big city, such as access to professional networks and knowledge spillovers.

[00:06:23] It suggests that the departure from big cities may slow down as career opportunities draw people

[00:06:29] back. Why do we care? It's all AI all over the place right now, isn't it?

[00:06:35] I offered yesterday that training was a key opportunity. It remains so.

[00:06:40] It's said I'll also note that being a place for employees to acquire AI skills is an opportunity

[00:06:46] too. With every organization scrambling to find those people now, if you're offering a way to

[00:06:52] gain those skills, which your organization likely needs to, there's opportunity there too.

[00:07:00] It's time for Friday Big Ideas. Well, just a pair this week.

[00:07:05] IT Web with an article called Business Analyst Skills in the Age of AI

[00:07:10] In the age of AI, while technology can optimize processes and increase productivity,

[00:07:15] human skills such as problem solving, communication, and empathy remain indispensable.

[00:07:21] Business analysts play a crucial role in tying business strategy to technology

[00:07:26] and their skills extend beyond a job title. Strategies for individuals and businesses

[00:07:31] to acquire and maintain relevant skills include continuous learning, staying adaptable,

[00:07:37] and investing in human skills like empathy. Building rapport and understanding individual

[00:07:42] perspectives are also important. Embracing foundational human skills and cultivating

[00:07:47] adaptability, curiosity, and empathy will help navigate the evolving workplace landscape.

[00:07:54] And a fun one to think about from TechCrunch. A new sculpture called the Portal allows

[00:08:00] people in New York City and Dublin to interact in real time. The sculpture weighing 3.5 tons

[00:08:06] and featuring an 8x8 feet video screen is created by portals.org and powered by video window software.

[00:08:14] The Always-On Connection is designed to overcome connection issues and ensure data security.

[00:08:19] The success of previous installations has built confidence in maintaining a 24x7

[00:08:24] live stream between the two cities to let people interact.

[00:08:29] Now why do we care? One of my core ideas for IT service delivery is the need for business

[00:08:35] analysts to go with the servants. This isn't a separate need, particularly as if customers

[00:08:40] are turning to another organization for this, it's a big risk to your relationship.

[00:08:44] Want to know more about the role? Well, here's your article.

[00:08:48] I offer the Portal story to ponder the idea of building relationships more virtually.

[00:08:53] There's an intriguing idea of social connection in this way.

[00:08:57] And it's a nice thought to go into the weekend with.

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[00:10:07] Thanks for listening today. National Clean Your Room Day.

[00:10:11] What a good one to end the week on. I have a question you want answered.

[00:10:14] I take those lists or questions, so send them in as a voice memory video to

[00:10:18] question at MSPradio.com. I answer the list or questions live each week on our Wednesday live

[00:10:23] show next week, 3pm Wednesday Eastern Time. Got a comment or thought on a story?

[00:10:29] Put it in the comments if you're on YouTube. Reach out to me on LinkedIn if you're listening

[00:10:33] to the podcast. This weekend, the live show from Wednesday will drop in the podcast

[00:10:38] Feed On Saturday and I've got an interview with Rob Fagan on partnering with Microsoft

[00:10:43] that you'll get on Sunday. Have a great weekend!

[00:10:48] The business of tech is written and produced by me, Dave Sobel, under ethics guidelines,

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