We Are Standing at a New Starting Point

The rise of generative AI has fundamentally disrupted traditional ways of working. Business leaders are asking: Does my team have the skills to stand out in this new era?

This year, DataCamp conducted an in-depth survey of over 100 global leaders to explore the growing demand for data literacy skills within teams and to reveal the profound impact AI literacy is having on enterprise development.

This article dives into the core role of data and AI literacy in the workplace and social development. It also shares five key lessons for building data-literate teams—contributing to social stability and growth.

DataCamp

From Data Literacy to AI Literacy

While AI technology is evolving rapidly, data literacy remains the cornerstone of business success. According to DataCamp’s research, 86% of leaders believe data literacy is critical to their teams’ daily work. At the same time, with the increasing adoption of AI, 62% of leaders also emphasize the importance of AI literacy.

Over the past five years, data science, business intelligence, AI literacy, and data literacy have become the most sought-after skills in business. However, DataCamp’s findings show that companies still face significant gaps in cultivating data and AI talent.

The research reveals that 36% of companies face a lack of innovation, and 31% experience declining productivity—both directly linked to poor data literacy. These challenges put companies at a disadvantage in a fiercely competitive market.

The demand for data talent far exceeds supply. In a bid to attract top talent, 72% of business leaders are willing to offer higher salaries to data professionals, with 40% willing to pay a premium of over 20%. While AI talent is also highly sought after, slightly fewer leaders are willing to offer premium salaries—but those who do typically offer even higher compensation.

Leaders Are Willing to Pay a Premium for Data Skills Talent

DataCamp Releases Blockbuster Report! The 2024 Data and AI Literacy Report Unveils Future Development Trends.

Upskilling and Reskilling in the Age of AI

The recent explosion in popularity of ChatGPT has undeniably brought AI into the spotlight. However, we must not overlook the continued importance of “traditional AI” such as predictive analytics and machine learning in the data skills ecosystem. A solid grasp of data fundamentals remains a prerequisite for understanding AI.

So, what data skills do business leaders value most in the age of AI? DataCamp’s survey shows that the importance of nearly all data skills continues to rise:

Data-driven decision-making: 84% of leaders see this as the most critical skill—up 6% from last year.

Interpreting data visualizations and dashboards: 83% of leaders prioritize this skill—up 9%.

Data analysis and processing: 80% of leaders value this capability—up 8%.

Creating data visualizations and dashboards: 76% say this is crucial—up 11%.

Data storytelling: 74% of leaders consider this important—up 8%.

Leaders also place a strong emphasis on core AI skills such as machine learning, deep learning, and natural language processing. They believe these capabilities enable teams to better leverage AI technologies to improve productivity and decision quality.

Foundational knowledge of AI: 70% of leaders cite this as the most important AI skill, highlighting the importance of understanding AI fundamentals.

AI ethics and responsible AI practices: 69% emphasize these as key team skills.

Applying AI in business contexts: 65% of leaders consider this a critical area of focus.

Five Key Lessons for Building Data and AI-Literate Teams

Data and AI training have demonstrated powerful transformative potential, bringing significant benefits to organizations. Mature training programs can accelerate decision-making, spark innovation, and boost employee retention. Data shows that leaders with mature programs report notable improvements across several areas: decision efficiency up to 90%, innovation up 87%, and employee retention reaching 81%.

So, how can companies effectively implement upskilling and reskilling programs for data and AI capabilities? Drawing from first-hand experiences of business leaders and insights from thought leaders in the data and AI space, DataCamp summarizes the following best practices:

Expand existing programs to include AI literacy: Integrate AI literacy into data upskilling programs, treating it as an essential extension of data skills.

Broaden the scope of upskilling initiatives: Include non-technical roles in training programs to raise AI literacy across the organization.

Focus on interactivity and personalization: Design learning plans centered around interactive and personalized training to boost engagement and effectiveness.

Leverage AI as a force multiplier: Use AI tools to enhance and accelerate the practical application of data skills across the organization.

Practice proactive change management: Actively reinforce and manage organizational change to address employees’ concerns about new technologies.

Data and AI Literacy: Foundations for Social Stability

Data and AI literacy aren’t just competitive advantages in the workplace—they’re essential shields as we confront broader societal challenges. In this age of information overload, we face rampant misinformation, potential biases in AI systems, and automation-driven disruptions to employment.

DataCamp Releases Blockbuster Report! The 2024 Data and AI Literacy Report Unveils Future Development Trends.

Combating misinformation

With the rise of generative AI, online misinformation is spreading rapidly. 73% of leaders believe AI literacy is a critical weapon in fighting false information. By mastering AI technologies, people are better equipped to identify and respond to misinformation.

Ensuring AI ethics

The decisions made by AI systems can impact social fairness, making ethical AI practices essential. 75% of leaders call for AI ethics training for all employees to avoid injustices stemming from algorithmic bias.

Addressing automation challenges

Automation is reshaping how we work, but employees equipped with AI skills are better positioned to adapt. 62% of leaders say automation will affect their organizations, yet 57% believe well-trained employees can effectively meet these challenges. Additionally, 75% of leaders believe both governments and organizations have a duty to provide employees with necessary training.