With the growth of Digitalization, new forms of technological advancements are emerging, transforming the way we live, work and interact. Data has become a new valuable commodity similar to oil, it is powerful. Truly, the Fourth Industrial Revolution has arrived disrupting almost every sector of the society calling for change in the systems of the industries.
The major challenge today is the construction of right strategies in order to remain relevant. Since adaptation is the key for survival, organizations today are on the hype of building their business models. From inducing productivity to businesses, delivering innovations in education, healthcare and transportation to solving social issues, technology became a reliable partner to the people in achieving goals. Artificial intelligence materializes what once has been a science fiction.
As change is inevitable, Digital Transformation also impacts the employment landscape. Majority of the future workforce will end up in jobs which are not yet existing. Part of designing new business models is also recognizing the skill sets which the future industry demands.
There is a disagreement between those who believe that digital transformation will bring limitless opportunities and those who see this advancement as dislocation of jobs. The digital era brings talent shortage and rapid evolution of required skills. Jobs in the next years will require skills on critical thinking, assessing and analysing information, curiosity and imagination.
By 2020, most jobs will require skill sets which are not yet crucial today. The workforce must be prepared to conform to the challenges of the new revolution. Reskilling the current people in an organization will liberate their human potential and impede skill gap, the people is essential to be digitized not only the Infrastructure. Using digital is the only way to learn digital. Academe must ensure that students are equipped with the right skills to navigate to the always changing environment.
Soon, demand for high-skilled workers will increase. Talent shortage and skill gap are foreseen to be the challenge on talent acquisition. In order to stay competitive, companies need to strengthen the supply of talents on the different areas of expertise keeping in mind that people is the important factor of production.
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By Carrie Carbo
Research Analyst, Proventa International