Artificial intelligence and automation are dramatically changing how we work, which means huge swathes of the workforce will have to learn whole new skillsets in the coming years. And, yet, this issue is largely overlooked by boards when deciding on their priorities. Globally, 1 billion people will have to reskill by 2030. In Quebec, the statistic is estimated at some 1.3 million people. This transformation will have an impact on organizations, employees and managers. A strategic approach at the governance level is therefore a must.

Managing talent and skills has long been the exclusive domain of human resources departments. But in this climate, boards will have to step in and include this aspect in their strategic thinking. More than half of Canadian businesses are already incorporating AI into their operations, but precious few have set forth clear policies on how to deal with the resulting impacts from the standpoint of skills. This lack of strategy exposes organizations to a potential loss of competitive edge and to the very real possibility of falling behind to the point of becoming irrelevant.

To ensure their ongoing performance, companies need to invest in meshing technological expertise with human know-how. This will require making reskilling part of their strategic plan so they can monitor the progress made and resist the temptation to cut training budgets amid uncertain market conditions.

Having the foresight to navigate technological disruptions is no longer a “nice to have” — it’s a governance imperative. Boards have a key role to play in guiding talent toward new frontiers and leveraging this momentum to strengthen their long-term resilience and competitiveness.

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*Note that this is a summary of an article that appeared in the French-language business magazine, Gestion. The full-length article is available online in its original language.