Future-proofing tech talent : The role of upskilling in workforce resilience
The tech industry is evolving so fast it feels impossible to keep up with it. Advancements in artificial intelligence, machine learning, blockchain, and other emerging technologies are reshaping what businesses do, how they think, and what skills they need to stay ahead. And as the demand for new expertise balloons, the pressure to reskill the entire workforce grows ever stronger.
According to the World Economic Forum's Future of Jobs Report 2023, 60% of workers will need to reskill or upskill by 2027. Yet, the report also reveals a stark gap: only half of those employees will have access to the resources necessary to enhance their skills. This creates both a challenge and an opportunity for businesses within the tech sector. The question is no longer whether to reskill employees but how best to prepare them for roles that may not yet even exist.
In the past, reskilling often meant preparing workers to switch from roles being phased out. However, today's definition has expanded. Workers must catch up with emerging technologies and stay ahead of trends that continue to disrupt their industry. Businesses are realising that a long-term strategy for employee development is no longer a 'nice-to-have' but a necessity. A proactive approach is now essential for success.
Artificial Intelligence and Machine Learning
AI and machine learning have become integral to numerous tech-driven sectors, from healthcare and finance to retail and education. As businesses adopt AI solutions to optimize operations, employees must understand how these tools work and how to leverage them. From automating routine tasks to making data-driven decisions, it's becoming an indispensable tool. And as businesses increasingly adopt AI solutions, employees must adapt to this technological shift.
This means, to remain relevant in the AI era, individuals should consider upskilling in areas like data science and data analytics, where they understand data, cleaning, and analyzing it to extract valuable insights. Alternatively, machine learning offers many opportunities to develop and deploy ML models to automate tasks and make predictions. Or there's AI ethics and bias, where it's critical that businesses ensure systems are fair, unbiased, and ethical.
A report by McKinsey & Company notes that the demand for AI-related roles is growing by 20% each year, with positions such as data scientists and AI specialists seeing a surge in job postings.
Cybersecurity
As companies increase their digital presence, the risk of cyberattacks grows exponentially. The growing sophistication of cyber threats, coupled with the rise of AI, means the need for a skilled cybersecurity workforce has never been more urgent.
According to Cybersecurity Ventures, the global cybersecurity workforce shortage is expected to reach 3.5 million by 2025, emphasizing the importance of reskilling existing employees to fill these gaps.
And here's why… AI-powered attacks are becoming increasingly sophisticated, targeting vulnerabilities in systems and networks. This means companies must invest in robust security measures to protect their sensitive data and digital assets and mitigate the risks associated with the evolving threat landscape.
All this is presenting workers with great opportunities to transition into cybersecurity roles. And those who to aspire to building a successful career, now need training in risk management, threat analysis, cryptography, network security, cloud security and ethical hacking.
Cloud Computing
Cloud computing has revolutionized the way businesses operate, offering unprecedented scalability, flexibility, and cost-efficiency. Organizations of all sizes are rapidly migrating to the cloud to leverage its power and accelerate digital transformation.
A recent Gartner report found that public cloud services are expected to increase by 21% annually, reaching a market value of $500 billion by 2024.
Tech workers reskilling in cloud computing should focus on gaining proficiency in cloud platforms like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.
To be successful, these tech professionals will need to acquire a deep understanding of cloud computing principles and technologies. Key areas of focus include cloud fundamentals, cloud platforms, cloud security, cloud architecture, cloud automation.
Blockchain and Distributed Ledger Technologies
Blockchain technology is not just for cryptocurrencies anymore. From supply chain management to secure voting systems, blockchain is being adopted across various sectors. As businesses explore how to incorporate this technology, they need workers who can understand blockchain's underlying principles and how to develop and deploy blockchain solutions.
The IBM Blockchain Pulse report highlights that the demand for blockchain skills has risen by 520% in the last five years, making it a significant area for reskilling.
To pursue a career in blockchain, individuals should focus on acquiring a strong foundation in core blockchain concepts. This includes distributed ledger technology (DLT) fundamentals, blockchain architecture and components, and cryptographic techniques.
They'll also need to build blockchain development skills, such as programming languages like Solidity, Ethereum, and Hyperledger Fabric, and API integration for seamless system interactions. Plus, they'll need hands-on experience with blockchain platforms.
The Need for a Continuous Learning Mindset
One of the most significant challenges in the tech industry today is the rapid pace of change. What's cutting-edge today may be outdated tomorrow. This makes it increasingly difficult for workers to keep up, especially when traditional training programs and degree courses take time to develop and implement.
The WEF Future of Jobs Report 2023 stresses the need for businesses to adopt 'always-on' learning and development strategies. So, employers must now foster a culture where continuous learning is encouraged, and employees are empowered to take charge of their development. Offering employees access to online courses, workshops, certifications, and mentorship programmes is an ideal way to help them acquire the necessary skills at their own pace.
Looking Ahead
As we move into an era dominated by technological change, businesses in the tech sector must recognize that reskilling isn't just about filling immediate skill gaps—it's about preparing for an uncertain and unpredictable future. While no one can anticipate the exact skills needed five or ten years from now, what is clear is that adaptability, continuous learning, and a proactive approach to employee development will be the key to thriving in the face of this change.
(The author is Chief Solutions Architect, SkillUp)
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