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The transformation brought by artificial intelligence (AI) is revolutionizing the American workforce. However, this advancement also presents a significant challenge and disrupts our economy, resulting in job displacement.
Another disruptive trend is the rapid aging of our workforce. According to a report by the U.S. Senate Special Committee on Aging, by 2028, more than 25% of our national workforce will be 55 years old or older. The question then arises, how do older workers fit into this rapidly advancing AI landscape? The answer lies in the valuable experience and skills possessed by older workers, making them crucial to the success of the American economy.
Here’s an interesting fact: there are actually more job openings than there are people looking for jobs. However, older workers often face age discrimination when applying for roles that they are well-suited for. When additional barriers, such as being a veteran or a woman, come into play, the challenges to employment become even more pronounced.
Older workers have a unique edge right now with highly valuable experience, skills, and wisdom that even AI can’t replicate.
Contrary to popular belief, these older workers are actually America’s secret economic asset.
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The emergence of generative AI, such as ChatGPT, has led to automation and transformation in various job tasks and industries. However, the Organization for Economic Cooperation and Development’s 2023 report highlights that AI cannot replace humans in many jobs.
Older workers possess a unique advantage with their highly valuable experience, skills, and wisdom that AI simply cannot replicate. Furthermore, their skill sets include qualities that have been honed over a lifetime of work – skills that younger generations are still learning or have yet to acquire.
For instance, in the age of AI, businesses require meaningful relationship-building and in-person interactions more than ever before. Older workers are often exemplars of valued leadership and possess other soft skills, including professional demeanor, effective communication, adaptability, and teamwork. They also bring problem-solving abilities derived from years of experience and industry knowledge. AI lacks these inherent strengths and will never be able to replace them.
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Furthermore, AI cannot train future generations to master these essential human skills. Mentorship and collaboration between different generations have historically been instrumental in the training and development of younger workers. In fact, many workers themselves have expressed the benefits of a multigenerational workforce. A study by the AARP found that seven out of ten U.S. workers enjoy working with people from other generations. Older workers appreciate the creativity and energy of younger workers, while younger workers value the experience and wisdom that older workers bring to the table.
These benefits extend beyond workplace satisfaction and have measurable impacts on a company’s bottom line. The AARP report revealed that companies with diverse management teams, encompassing age, gender, nationality, career path, industry background, and education, experience 19% higher innovation revenue and 9% higher profit margins compared to companies with less diverse teams.
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While some jobs may be lost with the introduction and development of new technologies, the overall impact is the creation of more jobs or the enhancement of productivity in existing ones. Based on each job’s requirements and advantages, companies may reorganize tasks accordingly. The segment of the workforce that can best leverage these advantages is the most experienced one – the older workers.
The growing popularity of AI should not be seen as an obstacle to hiring older workers but as an even more compelling reason to hire them. Their proven experience is precisely what employers need to drive a bright future of economic growth in America.
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