Portugal stands at a critical juncture as it needs to retrain approximately 1.3 million workers, or about 30% of its employed population, to effectively leverage generative artificial intelligence by 2030.

A recent study by McKinsey suggests that if Portugal embraces automation and generative AI, productivity gains could increase to 3.1% by 2030, aligning with the projected EU average.

This presents a significant opportunity for Portugal to enhance its economic growth and competitiveness with developed economies.

To capitalize on this opportunity, organizations must invest in training and skill development, while also creating secure work environments that adapt to new technological realities.

The Adecco study highlights the necessity for companies in Portugal to invest more in internal talent development and continuous training programs to equip their employees.

Currently, only 14% of employees in Portugal have received training on the application of artificial intelligence at work, which is below the global average of 25%.

Moreover, only 3% of employees in Portugal are considered 'future-ready', possessing the necessary technological skills to thrive in an increasingly automated market, compared to 11% globally.

A significant concern is the lack of technological preparedness, coupled with a growing anxiety about job security, as 93% of employees express fear regarding their future positions in the workforce.

In addition to retraining existing workers, approximately 320,000 individuals currently in customer service or administrative roles will need to transition to new jobs.

Collaboration among the public, private sectors, and the education system is essential for effective retraining and transition processes.

Alexandra Andrade, Country Manager of Adecco Portugal, notes that high levels of employee apprehension about the job market are understandable given the rapid technological transformation.

For every euro spent on generative AI technologies, an estimated three euros will need to be invested in organizational change management to ensure effective implementation.