Resources and insights

Deloitte dossier reported that 94% of industry leading companies believe AI is critical to their success over the next five years. Every year competing consulting firm McKinsey & Company releases its annual Global Survey of over 1,000 respondents, finding Gen AI adoption (though widely touted) is only moderately rising. Leadership awareness and utilization on a day to day basis is growing with nearly a quarter of C-suite executives using Gen AI for work and over a quarter of companies using AI say it is already on their board's agenda.

Gen X was too skeptical, Millennials were too entitled. It’s time now for Gen Z to take their lumps. According to a recent survey published by jobs site Indeed and a popular article published in Fortune earlier this week, “Gen Z are treating employers like bad dates: 93% ghost interviews and 87% have not even shown up for their first day of work.” At Worky, we don’t see a lot of this behavior, and this is why.

Suffice to say, AI isn’t the technology of the future; it’s already here. The company behind the ChatGPT chatbot and the still-image generator DALL-E, made even more news this past Friday when the San Francisco based generative AI firm announced that it had recently completed a deal that values the artificial intelligence leader at a staggering $80 billion, a cool $50 billion more than the Thrive Capital valuation released publicly in early 2023. What are the broader implications of Sora? What are the talent and hiring implications?

The market for AI in FinTech is anticipated to be worth $42.83 billion in 2023 and grow to $49.43 billion by 2028, making it necessary for companies to adapt to the new technology, and hire accordingly. Accounting for 77.5% of the global revenue, the FinTech “solution segment” – comprising applications for mobile banking, digital loans, insurance, credit scores, buying and selling activities, and asset management – dominates the flourishing market. This has initiated a wellspring of product managers, ML and AI developers hoping to capitalize on a market still in its infancy.

Richard Kerr is a highly skilled Chief AI Officer with more than 20 years of experience in the field – specifically data science, machine learning, and language models with significant experience in developing prediction models and prototypes. Richard holds an MBA in Business Analytics & Finance from The Wharton School, University of Pennsylvania, a PhD in Pathology from the University of Georgia, and key patents in Natural Language Processing (NLP), Small Language Models (SLMs), and Retrieval Augmented Generation (RAG) applications. This article is a summary of his recent trip to Davos for the World Economic Forum 2024.

According to a report by Goldman Sachs, the VR and AR market in real estate is expected to reach $2.6 billion by 2025, with the XR market expected to grow even faster. This growth is being driven by a range of factors, including the increasing availability and affordability of VR and AR devices as well as the exploding demand for more immersive and interactive experiences - online and on site. The emergence of XR in PropTech has dramatically expanded the hiring scope at top commercial real estate firms, where executives are suddenly debating how to effectively scale new tech skills like digital twin engineers, AR designers, and VR developers.

In October of last year the $2.3 billion Las Vegas Sphere opened for business, ushering in a new type of stadium experience and a new era of demand for virtual reality and augmented reality experiences as well as the talented individuals who create them. We can all expect to see more of these immersive digital experiences popping up around the country. For example, artist Roy Nachum is opening an immersive museum in New York. The Leonardo opened a new immersive exhibit in Salt Lake City called “Into the mind of AI.” Estimates for the sector range up to $7 billion annually by 2030. Using gaming technology and GenAI, there will be an exploding demand for motion designers and animation professionals, among others.

Companies like Floored, Homestyler, and Giraffe360 are already way out in front with a big lead as the next wave of aspiring PropTech unicorns inspire a reticent field of traditional real estate firms to acquire talent from entirely unfamiliar fields: UX design, product management, generative AI, and AR just to list a handful. As younger generations bring their expectations to the marketplace and companies continue to attempt to lure employees back to the office with more carrots than sticks, the world of PropTech takes center stage. For instance, Resonai predicted that 90% of commercial property tours will be virtual by the end of this year.

Ernst & Young recently released their annual Pulse of the Industry report — which provides a comprehensive analysis of the MedTech field, at large — finding the industry as well as the global economy is in a state of flux. Transitioning from a surge of post-pandemic investment, the MedTech sector continues to grow with an increasing focus on AI, wearables, and robotics. While investment to the sector has slowed, there is no deficit of product, sales, marketing, and developer work needed in MedTech, especially around security, AI functions of all stripes (operational, relational, and beyond) and even innovative uses of blockchain.

The management consulting market has been worth an estimated $300 billion annually for the last several years, it's forecasted to grow 10% each year over the next decade. A 2021 survey from Clutch found 24% of small businesses in the United States plan to hire a financial consultant or advisor. The survey also suggests a significantly larger percentage – around 70% to 80% – of companies have situations where management consultants could be beneficial. Shifts in the business model at top consulting firms exacerbated this gap, there is still a solution for companies between the F100 and SMBs, it's just not common yet.

In a recent report from October 2023, McKinsey predicted that revenues in the FinTech sector will grow almost 3x faster than those in the traditional banking sector between 2023 and 2028. What has become increasingly clear is that the winners in FinTech will be the firms that grow their user base the fastest and thereby scale assets under management (AUM). Another area where the fintechs appear to be overtaking their more traditional banking counterparts is the use of AI in marketing.

Increasing demands for workforce flexibility, overcoming a lack of candidates with sufficient skills, a need to build deeper talent pipelines, AI and purpose-built skills assessment, extended workforce strategies, the evolution of MSP and the real managed service hiring model, ecosystem approaches, green jobs and DE&I trends for 2024 - a very happy new year to you, your team, and your family.

Estimates suggest that generative AI could contribute up to $4.4 trillion in annual global productivity. More specifically to our targeted analysis, marketing and sales is one of four functional groups that could reap an estimated 75 percent of that value. At present, a full 71% of consumers say they expect personalization with their online content. Let’s examine how a brand like Michaels is working with Persado to achieve a high level of AI-derived personalization, Instacart's new AI offerings, and how brands as diverse as Hot Wheels, CarMax and L’Oréal all utilize AI to win sales and engage targeted consumer audiences.

With the MedTech industry accounting for more than 2 million jobs, it is estimated that 50% of organizations in the life sciences space will have adopted AI technology in some form by 2025, and those that do adopt AI stand to increase profits significantly; a projection from McKinsey estimates that the use of AI could generate upwards of $100 billion for the healthcare industry as a whole. The main challenge is knowing how and where to start. While some companies have adopted a wait-and-see approach, such inaction would risk putting companies at a long-term disadvantage.

A full 94% of business leaders agree on the need to align sales and marketing. Promisingly, RevOps teams have become so essential to company success that it is estimated 75% of the highest growth companies in the world will deploy a RevOps model by 2025. RevOps also enables companies to attain the data needed to make more informed decisions and better understand pipeline velocity, sales cycles, win rates, annual recurring revenue (ARR), churn, customer lifetime value (CLV), and more. Let's examine the core principles, key management platforms, AI solutions, reporting needs, and a sample job description for Vice President, Revenue Operations (the key title that is +300% on LinkedIn over the past 18 months).