Decoding Global Talent 2024 Report: Only half of Singaporeans are willing to reskill to stay relevant for the AI revolution, lagging behind Southeast Asian counterparts

• Just 53% of Singaporean talent say they are willing to reskill to keep up with evolving roles in the age of AI, while 40% still remain unfamiliar with GenAI’s capabilities
• This is despite only 19% of local talent believing GenAI will not affect their current jobs. 
• The global study on work preferences in the age of AI features survey data from more than 150,000 workforce respondents from 188 countries.

SINGAPORE, 15 November 2024 — Singaporeans might not be keeping pace with the global push toward Generative AI (GenAI) adoption, as revealed by the Decoding Global Talent 2024 report, released today. Despite GenAI’s widespread potential to revolutionise industries, only 53% of Singaporean talent are willing to reskill to stay relevant in the AI era – significantly lower than the 63% recorded across Southeast Asia.

Overall, Singaporean talent would consider reskilling only if necessary (41%), compared to their counterparts in Southeast Asia (32%). This reluctance to embrace reskilling comes at a time when the use of GenAI in both professional and personal contexts is on the rise, yet Singapore’s workforce appears hesitant to fully engage with the AI revolution.

These insights stem from a new report by Boston Consulting Group (BCG), The Network, of which Jobstreet by SEEK is a part of, and The Stepstone Group. The study is based on survey data from more than 150,000 respondents in the workforce spanning 188 countries. 

Room for growth for GenAI usage in Singapore

The report reveals that while 60% of Singaporean talent have tried GenAI in their work or personal life, only 43% of Singaporean talent use it monthly – just on par with Southeast Asia’s 44%. 

While the high adoption rate can be attributed to Singapore’s National AI Strategy (NAIS 2.0), a significant portion of Singaporean talent (40%) still remain unfamiliar with GenAI’s capabilities. Although Singapore has a promising base for GenAI usage, there is considerable room for growth which both employers and employees can contribute to.

The impact of GenAI in Singapore

Despite a reluctance to reskill, talent in Singapore have concerns about the effects of GenAI with regards to job security and displacement of roles, with only 19% believing GenAI will not affect their job. Further, 22% of Singaporean talent also expect major impacts that will eliminate or transform their jobs significantly, slightly lower compared to the regional figure of 29%.

However, GenAI’s ability to reduce non-essential tasks (60%) and improve work quality (45%) is widely recognised by Singaporean talent as its biggest benefits – yet, its use for meeting deadlines and improving speed remains underutilised (32%). This lags behind both their Southeast Asian (44%) and global peers (45%), highlighting the need for a greater focus on practical applications of GenAI in increasing productivity.

What Challenges are holding Singaporeans back from embracing GenAI?

Despite an interest in using GenAI, challenges such as difficulty in writing prompts and having a lack of skills are putting off local talent from fully leveraging GenAI’s capabilities, with 37% citing this as a significant roadblock. This figure is notably higher than the regional average of 33% and the global average of 30%, suggesting that Singaporean workers lack the necessary skills or support in utilising GenAI, which hinders the effective use of GenAI.

Low priority in improving advanced digital skills and understanding new trends 

When it comes to reskilling, Singaporean talent appears more focused on traditional skills, namely improving analytical skills (46%), functional and job-specific skills (35%), and project management (27%). Meanwhile, advanced digital skills (like software development and AI) and understanding new trends (like AI, advancement in science) rank much lower in priority, at 22% and 19% respectively.

“AI's impact is undeniable, and it is essential for both individuals and employers in Singapore to start taking proactive steps in reskilling and future-proofing our workforce,” said Vic Sithasanan, Acting Managing Director, Jobstreet by SEEK in Singapore.

“The Decoding Global Talent 2024 report has shown a pressing need for more Singaporeans to actively engage and build the skills needed in today's evolving AI-driven economy. Employers also play a crucial role in bridging this gap by offering clear guidance and accessible learning opportunities, as aligned with Singapore’s Smart Nation 2.0 strategy. Without this ongoing support and drive to reskill, local talent will struggle to adapt professionally in the evolving AI landscape," he added. 

As Singapore navigates the AI revolution, there is a crucial role for employers to play in supporting their workforce’s transition. The report finds that 51% of Singaporean talent expressed a need for more guidance on what skills to learn, while 46% highlighted the need for better learning courses. Furthermore, 36% pointed to the need for more employer support in adopting GenAI in the workplace.

These findings reveal an opportunity for Singaporean employers to bridge the GenAI skills gap by offering targeted training and raising awareness of the specific skills needed to thrive in an AI-driven future. With proactive efforts from companies, Singapore’s workforce can better position itself for the demands of tomorrow.

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About the Survey

BCG, The Network (together with its affiliate organizations), and The Stepstone Group conducted this anonymous, online survey from October through December 2023. All told, 150,735 people in 188 countries participated.

The survey elicited workers’ attitudes on various topics, including their willingness to move abroad for work, the countries they would most like to work in, their reasons for choosing those countries, and their expectations of their future employers in a new country. The data gathered in the survey (including a wide range of information on participants’ demographic and professional backgrounds) made it possible to analyze workers’ attitudes on the basis of multiple parameters.

BCG also conducted follow-up interviews with select study participants around the world—many of whom were interviewed before and have been followed for several years.

About Jobstreet by SEEK

Jobstreet is the leading employment platform in Southeast Asia, helping people live more fulfilling and productive working lives and helping organisations succeed. It is a subsidiary of SEEK, a diverse group of companies comprised of a strong portfolio of online employment, educational, commercial and volunteer businesses. SEEK is listed on the Australian Securities Exchange and has a strong presence across the APAC region, including six Asian markets – Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, and Thailand – through the Jobstreet and JobsDB brands. SEEK attracts over 500 million visits a year in Asia.

About The Network

The Network is a global alliance of more than 70 leading recruitment websites committed to finding the best talent in over 150 countries. Founded in 2002, The Network has become the global leader in online recruitment, serving more than 2,000 global corporations. The recruitment websites in The Network attract almost 200 million unique visitors each month. For more information, please visit www.the-network.com.

About The Stepstone Group 

The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 130 million job applications with around 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2023, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries—including Stepstone in Germany, Appcast in the US, and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs around 4,000 people worldwide. For more information: www.thestepstonegroup.com/en.

About Boston Consulting Group

Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.