FOMO, or Fear of Missing Out, is a well-known term describing the anxiety of missing out on exciting events or experiences.
It gained recognition in 2004 and is now in the Oxford English Dictionary. However, a new term, FOBO, is emerging, primarily in business contexts.
FOBO stands for Fear of Becoming Obsolete and pertains to concerns about one’s role becoming irrelevant, often due to advancements in technology like AI.
A Gallup poll reveals a 22% increase in US workers worrying about technology making their jobs obsolete, up from 2021. This rise is particularly notable among those with higher education, jumping from 8% to 20%.
Goldman Sachs even predicts that generative AI could potentially automate 300 million full-time jobs, adding weight to these concerns. To combat FOBO, it’s advised to conduct a career assessment, identifying areas for improvement and taking steps to enhance them.
Upskilling through work-sponsored programs or online courses can be beneficial. Building professional relationships with colleagues, mentors, and industry experts can also help stay updated with industry trends.
Of course, from the side of the employer, a more human centred approach to support workers could go a very long way.
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