How Apprenticeships Can Help Retrain Workers

An ongoing theme in discussions about the Fourth Industrial Revolution is the worry that artificial intelligence will eliminate the need for human workers.

Although AI will have the ability to complete some menial tasks, there is no real replacement for human intelligence. Still, technology will inevitably play a vital role in the future of work, so it is important to properly train humans for positions being offered in the next few years.

According to the World Economic Forum, 42% of skills requirements are expected to change by 2022, so reskilling is necessary to adapt to the changing workforce.

In order to properly train individuals on the factory floor to learn new skills and open up the possibility of career growth, companies should look into offering apprenticeships.

Several Swiss-based companies have successfully used their apprenticeship models to broaden their talent pool. For example, Zurich Insurance established a U.S. apprenticeship program in fill underwriting and claims associate positions in the country.

“It’s no secret that apprenticeships are close to my heart – I know first-hand how effective this kind of education can be and how far it can take someone,” said Sergio P. Ermotti, CEO of bank UBS. “After all, I started my career as an apprentice at a local bank in Lugano, Switzerland.”

At this year’s National Apprenticeship Week in Washington D.C., the Swiss Embassy presented how the Swiss-style model can be used to a wide variety of companies and offer workers a new set of skills to flourish in their fields.