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The Star
4 days ago
- Business
- The Star
‘Evolve or get left behind'
Imagine spending years earning a degree, only to find that the skills you've learnt are outdated by the time you enter the workforce. It's a scary thought, but in today's fast-changing world, it's becoming a reality. Technology is moving so quickly that the job market is changing in ways we couldn't have imagined a decade ago. Some traditional jobs are disappearing, new ones are emerging, and the skills employers are looking for are shifting right under our feet. According to the World Economic Forum's Future of Jobs Report, in the next five years, 69 million new jobs will be created, but 83 million will disappear, leading to a net loss of 14 million jobs globally. However, this shift isn't just about job losses – it's about transformation. While automation and artificial intelligence (AI) are eliminating certain roles, entirely new industries and career paths are emerging at an unprecedented pace. The big concern now is whether there will be enough talent to support this transformation in the next five years. The challenge for educators, policymakers and students is no longer about preserving old jobs, but preparing for new ones. The increased adoption of new and frontier technologies, along with greater digital access, is expected to drive job growth across industries. Three industries are leading the transformation of the global workforce: fintech, AI and information technology (IT), and healthtech and biotech. These fields are rapidly expanding, fuelled by technological advancements, automation, and a growing need for specialised expertise. Fintech and digital finance The financial sector is evolving beyond traditional banking, with AI and blockchain transforming how people invest, transact and manage money. Cryptocurrencies, decentralised banking and automated financial services are becoming the norm, eliminating many conventional roles while creating new ones. The demand for specialists in AI-driven financial analytics, cybersecurity and blockchain development has skyrocketed. Today, companies require experts who can predict market trends using big data, protect digital transactions from cyber threats, and develop innovative fintech products that make banking more seamless and secure. AI, IT and quantum computing Technology is no longer a sector – it's the backbone of every industry. AI, cloud computing, and the Internet of Things (IoT) are reshaping business operations worldwide. Companies are aggressively automating processes, implementing AI-driven decision-making, and leveraging virtual and augmented reality to enhance customer experiences. Alongside AI and cloud computing, quantum computing is emerging as a game-changer. Companies like Microsoft, Google and IBM are racing to develop quantum technologies that could revolutionise industries by performing complex calculations in seconds – something today's most powerful computers would take years to accomplish. The potential applications in cryptography, materials science, pharmaceuticals and AI are immense, making quantum computing specialists one of the most sought-after professionals of the future. Healthtech and the biotech boom An ageing global population and rapid medical advancements have made healthtech one of the most promising fields for job creation. Biotechnology, genetic engineering and telemedicine are revolutionising healthcare, leading to breakthroughs in personalised medicine, AI-powered diagnostics and robotic-assisted surgeries. The demand for AI specialists in healthcare, biomedical engineers and genetic data analysts is growing exponentially. With digital health platforms expanding, professionals who can integrate AI into medical diagnostics, develop bioengineered solutions, or innovate in telemedicine will shape the future of healthcare. Staying relevant In this fast-changing job landscape, degrees alone no longer guarantee employability. Today's graduates must be strategic in developing future-proof skills that align with the evolving job market. Digital literacy, AI proficiency, cloud computing, big data analysis, and quantum computing fundamentals are becoming fundamental across industries. Students should not just rely on what they learn in the classroom but actively seek out opportunities to upskill. Beyond technical expertise, soft skills like adaptability, creativity and problem-solving remain critical. The half-life of technical knowledge is shrinking, meaning that professionals must embrace continuous learning to stay ahead. The ability to work with emerging technologies, think critically and collaborate across disciplines will be the key differentiator in a world where automation is replacing routine tasks. M'sia's chance to lead The future of work is not approaching – it is already here. In an era where AI, quantum computing, big data and biotech are redefining industries, the ability to adapt, innovate and lead will determine Malaysia's place in the global economy. Degrees alone no longer guarantee success – future-proof skills do. Our universities are already taking bold steps to integrate industry-driven education, advanced digital training, and real-world applications. But the momentum must continue. Malaysia has the talent, resources and vision to become a global hub for fintech, AI, biotech, and emerging frontier technologies. With continued investment in cutting-edge research, strong industry-academia collaborations, and a culture of lifelong learning, we can build a workforce that doesn't just respond to change – but drives it. The future belongs to those who embrace innovation, master new technologies, and dare to think beyond traditional career paths. Malaysia is not just preparing for the jobs of the future – we are creating them. Prof Dr Mohammad Falahat is the director of the Strategic Research Institute at the Asia Pacific University of Technology & Innovation (APU). With over 20 years of experience in international entrepreneurship, SME performance and education management, the Universiti Sains Malaysia Gold Medal Award recipient has secured prestigious research grants, including FRGS, TRGS (MoHE), PPA, MASA, MPC, and MCA Belt and Road Centre. The views expressed here are the writer's own.
Time of India
22-07-2025
- Business
- Time of India
Data Science vs. Economics: Which degree is better suited for a data-driven future?
Once neatly categorized into separate silos, the worlds of data and economic theory are now converging at the core of global decision-making. In an era where algorithms forecast stock crashes before brokers blink and central banks model inflation using machine learning, both Data Science and Economics have emerged as powerful degrees commanding influence across sectors. Yet as students weigh their options in an increasingly digitized economy, a fundamental question arises: Which degree holds more power in shaping the future—Data Science or Economics? The shifting terrain of influence The traditional stronghold of Economics as the discipline that governs policy, finance, and business strategy is now being challenged—not displaced, but redefined—by the rise of Data Science. While economists are trained to understand causality, model behavior, and interpret systemic shifts, data scientists wield code and statistics to uncover hidden patterns, forecast outcomes, and automate decision-making. Today, every industry—from healthcare and logistics to marketing and governance—relies on large-scale data analytics. Data Science, with its computational muscle and agile toolkits (Python, R, SQL, machine learning), has evolved into the go-to degree for roles demanding immediacy, precision, and automation. However, this efficiency has not rendered Economics obsolete. Rather, it has placed economic reasoning at a premium—especially when interpreting data responsibly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo In many ways, the two fields are no longer rivals but reluctant collaborators, often intersecting at boardrooms, policy desks, and startup whiteboards. Skills that shape the future A degree in Economics offers a lens to decode macro-level shifts—interest rates, unemployment, GDP volatility—but it also cultivates strategic thinking, critical evaluation, and long-term modeling. Economists are trained to ask "why" before acting on the "what." On the other hand, Data Science excels in answering the "how" and "what" with dizzying speed. It offers proficiency in programming, statistical inference, and advanced modeling—skills prized in automation, fintech, AI, and high-frequency trading. While the field initially leaned heavily on computer science, it is now deeply embedded in business, policy, and even climate change research. In effect, data scientists generate answers; economists know which questions matter. The combination is ideal—but for students pursuing a single degree, the choice depends on the direction of inquiry they're drawn to. Career trajectories and industry demand According to the World Economic Forum's Future of Jobs Report (2025), roles like data analysts, AI specialists, and machine learning engineers dominate the hiring landscape. Salaries for data scientists consistently top industry benchmarks, with tech firms, investment banks, and consultancies battling for talent. Yet, Economics graduates still dominate leadership pipelines. Central banks, global think tanks, international agencies like the IMF and World Bank, and policy cells within government and academia overwhelmingly favor candidates with strong economic foundations—especially when roles demand foresight, trade analysis, or systemic modeling. Notably, hybrid roles—such as economic data analysts, quantitative researchers, and data-informed policy advisors—are now flourishing. These positions require a foundation in both domains, hinting at a future where interdisciplinary expertise becomes the real currency of power. Education in transition Universities have started to recognize this merging demand. New-age programmes now offer dual majors or interdisciplinary concentrations—blending econometrics with machine learning, or economic modeling with big data frameworks. Institutions like MIT, LSE, and NUS are reshaping curricula to produce graduates who are not just analysts or theorists, but decision scientists—able to derive insights from data and embed them within a broader economic context. Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
Business Insider
01-07-2025
- Business
- Business Insider
8 tech executives told us the top skills you need in the age of AI
Whether you're just entering the workforce or decades into your career, chances are your job is evolving — or will be soon. A recent Salesforce study suggested that with agentic AI adoption expected to grow 327% by 2027, chief human resource officers expect to re-deploy 23% of their workforce in the next two years. While 61% of the workforce is expected to stay in their roles, those jobs are also expected to change, the report said. Some tech CEOs still believe that foundational knowledge in areas like coding remains important. However, other skills are rising in importance and reshaping what it takes to thrive in the workplace. In January's World Economic Forum's Future of Jobs Report, 86% of employers said they believe that technological advancements will transform their businesses over the next five years. This shift is projected to result in a decline in some roles and growth in others, while also increasing demand for skills in AI and big data, cybersecurity, and technological literacy. Business Insider asked eight tech executives about the top skills job seekers — and all employees — should have in the age of AI. Here are three tips they shared: Be a generalist The age of the Renaissance person may be returning. Cognizant CEO Ravi Kumar told Business Insider in an interview that the world is shifting toward an era where "deep expertise will be less valued." He said those who merge specific knowledge in one domain with technological capabilities will be more relevant than those with narrow expertise in one area. Kumar said that a history major who can leverage AI tools to apply historical insights to future scenarios, for instance, will be a stronger historian in today's market than someone who can solely speak to a historical period. Similarly, Cloudflare CEO Matthew Prince told BI that as cybersecurity is increasingly embedded into other platforms, the company is focused on recruiting talent with a diverse skillset. "We're trying to find people who have a broad set of skills and can be general," Prince told BI. Other cybersecurity executives have also previously told BI that while foundational skills in data and IT are important, soft skills and adaptability are key to the job. Focus on fresh ideas When many executives talk about AI tools, they emphasize the expectation that employees will have more time for "deep work." Dropbox VP of product and growth Morgan Brown defines this as uninterrupted time dedicated to "expansive thinking" about new ideas. "The quality of ideas that we're going to be able to get people to think about because they will have time — rather than just tactically going out and fixing bugs — might actually enhance not just the output capacity, but also the satisfaction that someone gets from a job," Cisco executive Jeetu Patel said in a recent conversation about shifts in engineering. Brown added that with AI efficiency gains, product rollouts are moving at a much faster pace, which allows employees to turn ideas into reality more quickly, Brown said. Cisco executive vice president and chief customer experience officer Liz Centoni echoed the sentiment in a March interview with BI. She said that being able to think creatively is vital. "I want someone in there who's sitting with the subject matter experts who can not just understand the problem, but look at how can we creatively craft a solution," Centoni said. Get good at using AI tools Most people know how to ask ChatGPT for answers to basic questions, but prompt engineering is a more complex skill. Google Cloud executive Yasmeen Ahmad told BI that people need to know the kind of questions to ask, what kind of data is available, and how to craft their queries effectively. Successful workers will be able to "interact with these new-age tools and be able to prompt to engineer and ask the right questions and interact in this flow that hasn't been there before," Ahmad said. Google Cloud CTO Will Grannis told BI that to stay current, employees need to look "beyond the formal curriculum." That means following your curiosity and using available AI tools to "vibe code," or use AI to generate code. While prompt engineering is important, he said job seekers need to be skilled in context engineering as well, which means knowing the larger systems at play. AI literacy also requires effectively interacting with agents, said Salesforce talent executive Lori Castillo Martinez in a recent interview with Business Insider. The executive told BI that employees need to know when to use agents and how to communicate with them. Patel also told BI that orchestrating agent workflows is a crucial skill that will be "super important." That includes assigning work to agents and overseeing their progress.
Mid East Info
20-06-2025
- Business
- Mid East Info
Future Skills Academy records wide interaction and creates tangible knowledge impact in its first phase
As part of its commitment to empowering 10 million Arab learners with job market skills by 2030 The Future Skills Academy, one of the pioneering initiatives of the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) and the United Nations Development Programme (UNDP), in collaboration with Coursera, has recorded significant engagement and promising results in its first phase. This marks a strong start towards its mission to empower Arab learners with future-ready job market skills. The wide interaction received by the academy in its first phase underscores the growing demand for individuals to develop digital and vocational skills in the Arab world. As part of its ambitious goal, the academy aims to enable 10 million learners in the Arab region to acquire the most in-demand job market skills by 2030, targeting 25,000 learners in 2025. It offers curated courses in high-demand fields such as data analysis, artificial intelligence, digital marketing, and entrepreneurship, in addition to developing transferable skills. Within one month of its launch, the academy witnessed a surge of interest from thousands of learners across various Arab countries. Learners completed 4,721 courses, viewed more than 191,419 educational videos, read more than 126,136 educational materials, and completed over 108,568 assessments, totaling 45,385 hours of effective learning. Dr. Abdullah Al Dardari, UN Assistant Secretary-General and Director of the UNDP Regional Bureau for Arab States (UNDP), said: 'According to the World Economic Forum's Future of Jobs Report 2025, nearly 59% of the global workforce, including Arab graduates, young people, women, and marginalized groups, will require training and skills development within the next five years. With 39% of basic job market skills projected to change by 2030, the necessity to strengthen educational and vocational reskilling programs to prepare future generations for the changing requirements within the labor market is critical.' He continued: 'The Future Skills Academy is a strategic response to these shifting dynamics in the Arab region. By empowering 10 million Arab learners, including young graduates, with future skills by 2030, our academy contributes to economic recovery, enhances prosperity, and supports sustainable development through inclusive, future-focused education. With a focus on continuous learning, we seek to bridge basic skills gaps and unlock the potential of Arab talent to lead innovation.' Al Dardari also added: 'This academy not only develops skills but also enhances the competitiveness and strength of the workforce and economies in Arab countries.' His Excellency Jamal bin Huwaireb, CEO of MBRF, said: 'The strong response to the academy reflects the Arab world's growing commitment to acquiring digital and professional skills as well as lifelong learning. It also underscores learners' passion and interests to build a more prosperous and sustainable future for their countries, foster sustainable development and advance a competitive, knowledge-based economy.' H.E. added: 'At MBRF, we believe that cultivating talent is the cornerstone of both intellectual and socio-economic progress. Through this initiative, we seek to empower 10 million Arabs by 2030, inspired by our wise leadership's vision to prioritize human development and knowledge advancement. In collaboration with our strategic partners, we reaffirm our commitment to empower as many young talents across the Arab world as possible, equipping them to compete and lead in the knowledge economy and sustainable development across all sectors.' Kais Zribi, Coursera's General Manager for the Middle East and Africa, said: 'As industries transform rapidly under the influence of technology, access to high-quality, market-aligned education is more essential than ever. The Future Skills Academy opens doors for thousands of Arab learners to gain practical, in-demand skills, supporting personal and professional growth as well as regional economic development. We are proud to partner with UNDP and MBRF on this impactful mission.' The academy builds on the earlier FutureSkills4All program, which enabled 10,000 learners to complete 15,000 training programs, totaling 114,000 hours of learning. With this new phase, MBRF and UNDP aim to deepen their impact and foster knowledge sustainability across the Arab world. The Future Skills Academy offers flexible digital learning through an advanced electronic library featuring content and programs from leading global universities and institutions. Looking ahead, the academy plans to expand its strategic partnerships, further enhance content quality and broaden access for diverse communities.
Yahoo
12-06-2025
- Business
- Yahoo
Aussie job warning ahead of 'huge' shift: 'Can't even imagine yet'
Australians are being warned the opportunities of artificial intelligence are 'immense' but there is no denying it will cost some jobs. It comes as the head of one of the world's biggest AI labs predicts the technology could eliminate half of all entry-level, white-collar jobs within the next five years. Niusha Shafiabady, associate professor in computational intelligence at Australian Catholic University, told Yahoo Finance the jobs of the future would be different from the types of jobs that we have now. But she said this was something we'd experienced 'throughout the history of human life'. 'I think it's important for the kids to understand that we will have much fewer entry-level jobs and new roles will emerge. We should start thinking about our careers smartly from now on and plan our career properly,' she said. RELATED Millions of Aussies warned as Hungry Jack's replaces drive-thru workers with AI Centrelink cash boost coming from July 1 for millions of Aussies Aussie teen's job paying $300 per hour without a uni degree Australia's productivity commissioner Danielle Wood said the forecast that half of entry-level white-collar jobs would be wiped out was 'pretty extraordinary' and 'out of whack with other reasonable projections' she had seen. But she said there were some elements of jobs that would be overtaken by AI. 'Often it is the more routine elements but that is freeing people up to do the uniquely human parts of jobs,' Wood told ABC's 7.30 program. 'Am I going to sit here and say, 'No jobs are going to go?' No, clearly not. There will be some impacts.' Anthropic chief executive officer Dario Amodei recently warned politicians and businesses were not prepared for the spike in unemployment rates that AI could bring. 'AI is starting to get better than humans at almost all intellectual tasks, and we're going to collectively, as a society, grapple with it,' he told CNN's Anderson Cooper. 'AI is going to get better at what everyone does, including what I do, including what other CEOs do.' Unions will be pushing to regulate AI in the workplace at the upcoming productivity summit. It wants the government to enforce a 'digital just transition' for workers impacted by AI, similar to measures for coal and gas-fired power jobs impacted by the shift to renewables. They will also be pushing to gain a greater share of productivity benefits through higher pay. The World Economic Forum's Future of Jobs Report has estimated 92 million jobs will be lost in this decade, with 170 million new jobs created. This would leave a net worth of 78 million by 2030. Bloomberg found AI could replace more than 50 per cent of the tasks performed by market research analysts and sales representatives, compared to 9 and 21 per cent for their managerial counterparts. Wood said AI offered a 'huge amount of opportunity' and there would be jobs created that 'we can't even imagine yet'. 'I think probably the major impact on labour markets we'd expect in the next decade is more people working with AI to take some bits of their job but free them up,' she said. 'From an economy-wide perspective as well, the opportunities are immense. When we look at productivity gains, gains in our living standards have come from over the long run, it is largely those new technologies.' Shafiabady said we would need specialists in automation, those with skills to work with and analyse data, along with more cybersecurity experts. 'The closer we are to making strategic decisions in the organisation and critical thinking skills, the safer our job will be,' she in retrieving data Sign in to access your portfolio Error in retrieving data
