Blockchain will be among key technologies to transform the job market, according to Aneel Bhursi, co-founder and CEO of human capital management firm, Workday.
Blockchain to Boost the Value of Credentials
Last week, LinkedIn said that blockchain would be the most in-demand job skill this year. However, the technology will also help employees secure their next dream job in a more literal way. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Workday boss Aneel Bhusri said that artificial intelligence (AI) and blockchain would become essential for the job market.
The billionaires told CNBCs Squawk Box anchors in Davos:
Blockchain is a technology looking for a problem to solve. We found one to solve, which is credentials. Employees can go from company to company and carry credentials with them in a private network. It cant be edited by an outside source.
In this way, the technology wont allow job seekers to exaggerate their achievements and lie about educational and professional backgrounds. The fabrication of accomplishments has been a real problem, even up to the level of top executives and CEOs.
Workday partnered with First Advantage to apply a background-screening technology, including on platforms like LinkedIn. Bhusri said about blockchain-based credentials:
Whatever information you want to carry, it gives employees power over data. Universities can also make sure that diplomas cited by job seekers are real.
There are platforms that already offer this. For example, MIT-backed Blockcerts help institutions issue, manage and verify blockchain-based certificates.
Besides blockchain, AI will also transform the job market, though Bhusri likes to talk specifically about machine learning.
AI gives people images of the Terminator, and thats not the world we live in. Machine learning lets you make predictions, sifting through massive amounts of data. Humans are great at making judgments, the billionaire explained.
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