There is no denying that we are rapidly moving towards more and more of a data-driven economy. Everything from where we live to how we work is driven by data and analytics. With all this talk of AI, machine learning, and other rapidly evolving technologies, the real question is – are we ready?
In 2018, the World Economic Forum released a report on the future of jobs. Citing evidence of a fourth industrial revolution, one largely driven by data and analytics, the report states that by 2022, the skills required to perform most jobs will have shifted significantly. In less than three years, the majority of workers will require re- and upskilling.
So, what does this mean?
It means that we will need to think of data as capital. It means that how we solve problems today may be vastly different than how we solve problems in the future. And most importantly, it means that we will need different training to account for the new way of work.
The key is to move from automation to augmentation.
Rather than using automation to displace, businesses should automate some tasks to augment, complement and enhance workers’ skills. What shouldn’t (and can’t) be automated are things like creativity, complex problem-solving, critical thinking, persuasion and negotiation – skills that are all expected to increase their value in coming years.
It comes as no surprise that proficiency in new technologies and programming are set to experience increasing demand. Roles such as data analysts and scientists, software and applications developers, and ecommerce and social media specialists will be on the rise. But so will roles that leverage distinctively “human” skills, such as sales and marketing professionals, training and development specialists, and innovation managers.
How do organizations prepare for this shift?
To stay competitive, companies will need to pursue a combination of strategies including hiring new permanent staff with relevant skills, automating some work, retraining existing employees, and outsourcing some functions. During this process, it’s important to not only consider what people learn, but HOW they learn. Things like applied learning, sensory learning styles, and different learning theories and models will play an important role.
Finally, while companies themselves will need to take the lead in supporting this transition, they will also need to take a build, buy, partner approach. Build the right competencies, buy the right technologies and partner with the right organizations. Collaboration opportunities with academic experts and local educational institutions, government programs, and professional services firms may prove very valuable in large-scale retraining and uptraining efforts. Intra- and inter-industry collaboration may be beneficial for building talent pipelines and enhancing cross-industry talent mobility. Some specialized internal departments may also meet retraining needs.
It’s undeniable that the future of work is changing. It’s how we get there that matters.
Source: World Economic Forum, The Future of Jobs Report 2018. 2018, September 17. Retrieved from https://www.weforum.org/reports/the-future-of-jobs-report-2018