With more widespread use of AI seeming like an entrenched pattern in many industries and workplaces, is a university degree still worthwhile? Given the sheer cost, it’s reasonable to question and re-evaluate the value of a traditional university degree. The job market is shifting because of technological advancements, so understanding the role and importance of higher education in preparing the workforce for the future is wise.
The Changing Landscape of Work
AI and automation have already started to reshape the workforce, with machines and software increasingly handling tasks that were once exclusive to human workers (e.g., ATMs and self-checkout in stores). Positions in fields that used to seem immune, such as law and finance, are now seeing AI-driven solutions. For example, JP Morgan has leveraged AI to manage tasks that previously required 360,000 hours of legal and loan officer work annually (see this previous blog, Think your job’s immune from being replaced by technology … think again. These types of changes require professionals (and aspiring professionals) to adapt and expand their skill sets beyond what traditional degrees offer.
Reevaluating the University Degree
Historically, a university degree was synonymous with promise and stability, a guaranteed ticket to a prosperous career. However, the rise of technology often demands new, diversified skills, and the degree by itself may not be enough to stand out in a competitive job market. Skills that are less likely to be automated—those that require creativity, empathy, and complex problem-solving—are becoming increasingly valuable (see this previous blog, Nuanced career advice … why professionals need it the most for more details and potential inspiration).
Developing Soft Skills
An essential complement to technical knowledge is the realm of soft skills, such as communication, collaboration, and emotional intelligence. Often underrepresented in traditional curriculums, these skills are crucial in human-centric roles where technology cannot replicate human interaction and intuition. The capacity to pivot to higher-value tasks and adapt quickly may determine ongoing career resilience.
Lifelong Learning and Adaptability
In the AI era, the commitment to lifelong learning becomes essential. Professionals in regulated fields are obligated to seek continuous education and skill upgrades that foster adaptability. This is a wise approach for everyone. Employers increasingly value individuals who proactively engage in learning, bridging gaps between current qualifications and emerging technological demands.
The Value of a Degree in Context
Degree programs offer foundational knowledge in specific disciplines, critical thinking, and problem-solving skills that are essential in understanding complex ideas and innovations. However, these need to be contextualized within an ever-changing economy and job market. Degrees should aim to be more interdisciplinary, integrating some technology and business acumen with traditional subjects to match the workforce’s (and employees’) evolving needs.
Challenges and Opportunities
The ongoing influx of automation and AI presents both a challenge and an opportunity. As technology replaces routine tasks, professionals should have more time to focus on strategic, innovative, and creative aspects of their work. With this shift, the quest for knowledge becomes dynamic, demanding an education system that promotes flexibility and cultivates a mindset ready to tackle unforeseen challenges and innovations.
The Role of Higher Education Institutions
Ideally, higher education institutions will evolve to stay relevant, aligning curriculums with industry requirements and fostering partnerships with technological innovators for the benefit of graduates and future employers. By integrating experiential learning and offering platforms that stimulate creativity and critical thinking, institutions can prepare students not just to enter the workforce but to transform it in positive ways.
Closing Thoughts: Bridging the Gap
I still agree that a university degree still holds value, but its role is being transformed. As AI technology sweeps through various sectors, degrees should serve as a launchpad for ongoing development rather than a permanent/static ticket to guaranteed employment. Future-proofing careers will involve a balance of acquiring advanced knowledge and cultivating soft skills that will help people apply their knowledge effectively.
Did this article spark any career-related questions, plans or concerns?
Reach out today for a free and confidential initial consultation by phone, email, or direct message on X/Twitter, Facebook or LinkedIn.
P.S. If you haven’t yet done so, stay in the loop by subscribing to my bi-monthly newsletter. Click here. I promise not to spam, and your email address will always remain private.
If you enjoyed this topic or are interested in ongoing professional and leadership development, you’ll also enjoy reading or listening to How to Be Resilient in Your Career: Facing up to Barriers at Work, my book published in 2023 by Routledge. It’s available in print, as an eBook, and on Audible.
Note: This podcast episode is worth a listen: Is a university or college degree still worth the money?
More than career coaching, it’s career psychology®.
I/O Advisory Services Inc. – Building Resilient Careers and Organizations TM.
