Africa is on the cusp of a labor market revolution, with over 375 million young people expected to enter the job market by 2030. This demographic boom is projected to increase to over a billion people in the next decade, presenting both opportunities and challenges for the continent. To explore the future of work in Africa, Business Insider Africa spoke with Denis Pennel, a globally recognized labor market expert, at the Global Labor Market Conference (GLMC).

Pennel identified three major forces driving the future of work: record employment levels, demographic imbalances, and technological transformation. He emphasized that Africa's educated and growing population is a major asset, but only if it is skilled. "The answer is simple: skills, skills, skills. A growing working population is an asset only if it is skilled. Without the right education and training, young people will struggle to meet industry needs," Pennel noted.

Investment in skills and education is crucial for Africa's labor market, particularly in the face of technological advancements. Pennel highlighted the importance of adaptability and lifelong learning in the era of artificial intelligence (AI). "AI will replace routine tasks, not necessarily entire jobs. Workers who learn to use AI will thrive. In fact, history shows that new technologies often create more jobs than they destroy. The key is to adapt, reskill, and focus on human-centric skills like creativity, problem-solving, and leadership."

The rise of AI is affecting various industries, and concerns about job losses persist. However, Pennel sounded optimistic, emphasizing that AI can create new opportunities. "Jobs won't disappear—tasks within jobs will change. Those who embrace AI will future-proof their careers," he added.

Regulatory changes and investment in skills and education are crucial for Africa's labor market. Pennel noted that stronger policies are needed to ensure workers have stability and security. "Too many workers lack proper contracts and social protections," he said. "While some countries, like Nigeria, are making progress with labor regulations, others still lag behind."

The future of work in Africa is being written now, and the key question is whether new opportunities will open up for African countries to create jobs, improve incomes, reduce poverty, and climb up the development ladder. Pennel emphasized that Africa's labor market stands at a crossroads, and it is imperative that adequate investments are made in education and learning that holds value in the labor market.

In conclusion, Africa's labor market revolution presents both opportunities and challenges. As the continent navigates the future of work, it is essential to prioritize upskilling, digital transformation, and policy reforms. By doing so, Africa can seize emerging opportunities and create a thriving labor market that benefits all.