As the 4IR introduces new ways of working, new technical, digital and soft skills will be required. But these are in short supply, leading to a consensus among CEOs that retraining and upskilling are the most important routes to closing potential skill gaps.
As technology evolves, there is a “growing skills instability”. As a result, it is anticipated that more than one-half of all employees will require significant retraining in the coming years. To build a digital product, all workforces must come together to help the developers without direction and potentially without the skill.
“More than 1 billion jobs, almost one-third of all jobs worldwide, are likely to be transformed by technology in the next decade, according to OECD estimates. By just 2022, 133 million new jobs in major economies will be created to meet the demands of the Fourth Industrial Revolution.”
HR leaders struggle to develop effective senior leaders (according to 37%) and mid-level leaders (45%). Other research shows that only 50% of approximately 2,800 surveyed HR leaders report they are well-equipped to lead their organization in the future.
“The amount spent globally on education technology is expected to increase approximately $342 billion by 2025 as EdTech is globally considered as a viable way to address increasing and changing learning demands. Technology can support classrooms, schools and education systems to evolve at the pace required to better serve learners in 2020.”
IDC explored the impact that Digital Transformation (DX) will have on job skills and emerging roles within an enterprise organization. DX-related job roles focus on extracting and developing the value and utility of information, making business operations more effective and accelerating workforce transformation.