Can apprenticeships save young people from the threat of AI?

As leaders, we are faced with the challenge of artificial intelligence (AI) transforming the way we work in all industries. So what can we do to ensure a smoother transition for our employees?

The one thread we all have in common is our support of effective interventions, such as work-based training programs, particularly apprenticeship as a way to guarantee skills and to help our employees cope with the onset of AI. Although education and training have traditionally been the responsibility of the public sector in most countries, companies are increasingly recognising and responding to the needs of educating and training our future workforce, especially for reskilling and lifelong learning.

Apprenticeships boast a strong track record of return on investment for both businesses and the apprentice’s career track, but there are still hurdles in its wide scale adoption. The two main reasons are:

Stigma — apprenticeship and vocational training are still perceived as a second-rate track in comparison to going to university. The general public is unaware that apprenticeships do and can exist more in future-facing industries, increasingly linked to the world of AI including, banking, IT, human resources, healthcare and tourism.

Costs and complexity — regulating apprenticeships can be a heavy process in many countries and therefore a hindrance to employers and possible apprenticeship candidates. Without the right incentives and easier registration processes for employers, innovations in skills training are less likely to happen. As employers, we know that there is a strong business case in support of apprenticeships and we are making strides in several countries to change legislation in our favour.

The case for apprenticeships

The age of AI does not need to be viewed as all gloom, job losses and disappearing industries. There are many opportunities in new jobs and skills to be learned, with employers driving change in both technology and training. With increased AI, we are also more aware of the need for more human skills such as empathy, team building, communications and critical thinking skills. Whether soft or hard skills — apprenticeship can hone and bring together both ends of the spectrum.

The ambitions for 2020

In 2016, GAN members met at the White House and collectively pledged over 9 million opportunities for youth, sparking the Global Apprenticeship Movement. By 2017, we launched the 20 x 20 x 20 GAN Challenge, to further impact 20 million youth through the engagement of 20 GAN Board Members and establish a global footprint in 20 countries by 2020. To keep up the momentum, we will be meeting during the World Economic Forum Annual Meeting 2018 at Davos, uniting for skills, jobs and youth. As GAN Members, we are leading the change to offer practical solutions to the pressing challenges of unemployment and skills mismatch.

⦁ Reskilling in the digital age

Leading the way

⦁ Expanding apprenticeships in high-growth industries

⦁ Offering career trajectories

UBS also supports important vocational training initiatives. Our firm is a partner in the new Switzerland-wide SwissSkills initiative, which aims to engage in a broad-based, powerful and positive dialogue with the public on apprenticeship training. This dialogue takes place via three platforms which make practical professional training more tangible and accessible. We are actively engaged in all three of these platforms.

Apprenticeship is not a new fad, it is an age-old concept that has been with us for centuries. As employers, we know what we need to refresh apprenticeships in the age of AI. With optimism and the right partnerships, incentives and policies, we must continue to join forces to turn youth unemployment into a thing of the past, while promoting new work skills for generations to come.

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