This calendar year came chock-full of new implementations to the workplace as we now know it. Employers and employees were welcomed by a dynamic macroenvironment, rapid growth of generative AI, and a continued embrace of globalized and remote workplaces. These changes, though exciting, have added more pressure to business operations.

Historically, when companies encountered turbulent times, one of their first cost-cuts was learning and development (L&D) programs. As time went on, businesses began to realize the true value of these programs, especially matching the rapid growth of today's business realm. Workforces today have to learn, change, and grow quickly to keep up with new trends and opportunities. A recent study of 650 L&D and HR leaders reveals a further investment in talent development. Most learning and HR leaders have seen a budget increase this year, along with an increase in executive leadership viewing L&D as a strategic business function.

• 95% of L&D and HR leaders report an increase in budget (45% saw an increase larger than 10%)
• 52% of L&D and HR leaders say that employee engagement is the main cause for budget increases
• 75% of L&D and HR leaders report that executive leadership prioritize investing in L&D to ensure that their technology ambitions are successful

The majority of leaders ranked business and human skills as their top priority for L&D programs. AI skills were ranked the lowest priority by L&D and HR leaders, with only 19% rating it as a top priority. That being said, many companies are still in the early stages of embracing and operationalizing AI.