Millionaire entrepreneur Scott Galloway reveals the no.1 skill professionals need to thrive in the AI era

'Find a niche, no matter how narrow it is, and try and own it,' Scott Galloway advised young professionals. (Image credit: NYU Stern)

Scott Galloway, millionaire founder and marketing professor at New York University, recently shared the one skill he believes all young people need to thrive in the workplace amid competition from artificial intelligence (AI).

“If I could give my 13 and 16-year-old one competence that I think would stand the test of time, it’d be storytelling,” the 59-year-old told CNBC Make It. Galloway added that the type of storytelling may not matter because the platforms people use to communicate can change rapidly, but the important part is developing an “ability to write well, an ability to articulate ideas and an ability to present ideas with data, infographics, slideshows”.

The professor, who became a millionaire after selling his business intelligence consultancy company for more than $130 million in 2017, said that a brand’s storytelling can directly contribute to, or hurt, its success, CNBC Make It reported.

The importance of storytelling is particularly why young people shouldn’t rely solely on generative artificial intelligence tools like ChatGPT -- not now, not ever, Galloway told the publication.“We don’t know if in five years some neural network is going to replace ChatGPT. We don’t know if coding is going to be outdated,” he said.

Another piece of advice, Galloway shared for young professionals is to be an expert in their field. It is a good way to become successful, no matter what else happens around you, he said.

“The specific crowds out the general,” Galloway added. “Find a niche, no matter how narrow it is, and try and own it. Commit to being one of the most knowledgeable people in the world on a domain... You’re never going to be an expert in anything if you don’t enjoy it.”