The fear of becoming obsolete, or FOBO, is a term used to describe the anxiety that workers feel about being replaced by new technologies, platforms and artificial intelligence. FOBO is a growing concern amongst the labor force, including both younger and older workers who are college graduates and hold advanced degrees, according to a recent Gallup poll.
While some fear they will lose their jobs to AI and other fast-growing technologies, others are afraid that they’ll need to retool themselves, be forced into different careers or become long-term unemployed because they lack in-demand skill sets.
The survey shows that 22% of workers are worried that technological advancements will make their jobs obsolete, a 7% jump since 2021. The increase is being driven “almost entirely” by college-educated workers. Twenty percent of labor participants with a college degree expressed FOBO, up from 8% previously, while non-college-educated workers’ concerns remained unchanged at 24%. The Gallup data shows that men and women currently express equitable trepidation levels when it comes to being replaced by technology.
To compound their fears, in March, Goldman Sachs reported that it estimates 300 million jobs could be lost or diminished by AI. Whether or not people face job losses due to new technologies depends on several factors, including the specific industry they’re in, the nature of the job and the worker’s skills and adaptability. However, it is clear that the workforce is changing rapidly, and workers need to be prepared to adapt to new technologies and ways of working.
How To Overcome FOBO
FOBO is a real and warranted concern for workers in today’s rapidly changing job market. By staying informed and investing in your skills and education, workers can take steps to address this fear and remain relevant.
To futureproof your career, you don’t have to become a software engineer, but it would be advantageous to possess a comfort level with new technologies. It would be beneficial to take some online courses in coding, artificial intelligence, machine learning, data analytics or cybersecurity.
The key is to have a skill stack that makes you holistic. Having only one or two specific talents will be insufficient for the future work landscape. You’ll need a combination of different skills to advance your career and stay competitive and adaptable in the labor market.
While proficiency in artificial intelligence, software coding and all sorts of tech platforms and applications may be necessary, it doesn’t stop there. As evidenced by the acceleration of trends during the pandemic, things will continually evolve, and you’ll need to be flexible and always learning.
Recognize that change is inevitable and can bring new opportunities for growth and development.
Ensure that you keep up with the latest trends and developments in your industry and the job market. This can help you identify emerging skills and technologies in demand to stay ahead of the curve.
Build relationships with colleagues, mentors and industry professionals. This can also help you stay connected to the latest trends and opportunities and provide support and guidance as you navigate your career.
Identify your unique strengths and skills and focus on developing them further. This can help you stand out in a tough labor market, as well as assist you in finding opportunities that align with your strengths.
In addition to technical skills and relevant industry knowledge and experience, employers desire people who are great communicators with strong interpersonal and writing skills. They also value a high level of emotional intelligence and empathy.
Source: Forbes
