A crucial skill that young people need to thrive in the workplace, both now and in the future, is storytelling. According to millionaire entrepreneur Scott Galloway, if there's one ability he would recommend developing, it is the art of storytelling. The form of storytelling doesn't necessarily matter, as the communication platforms can change rapidly. The key is to cultivate the capacity to write effectively, articulate ideas, and present them using various mediums such as data, infographics, and slideshows. Galloway, a marketing professor at New York University Stern School of Business, emphasizes how storytelling directly affects a brand's success in his brand strategy and digital marketing courses. Despite the advancements in generative artificial intelligence tools like ChatGPT, Galloway stresses that storytelling remains essential, as relying solely on AI can be risky due to uncertain future developments.

Management experts agree that while understanding AI is valuable, it is not the only skill required to succeed in the workplace. Employers seek candidates with a combination of soft and hard skills, such as analytical and creative thinking, leadership abilities, and curiosity. Galloway also advises individuals to establish themselves as experts in their chosen field, emphasizing the significance of finding a niche and becoming one of the most knowledgeable individuals in that domain. This specialized expertise contributes to success regardless of external changes. To explore more about earning passive income online or gain insights on achieving success at work, with money, and in life, consider signing up for CNBC's online course and subscribing to CNBC Make It's newsletter.