Technological breakthroughs within the industry are shifting the way we work and skills required in workforce. Within the next decade, jobs performed by humans and those performed by machines will undergo major transformations. Companies are seeking to adapt new and emerging technologies to reach higher levels of efficiency and productivity, expand into new markets and compete with new products. Increasingly, employers are seeking workers with new skills to retain a competitive edge for the businesses.
According to the World Economic Forums latest ‘Future of Jobs Report 2018’, four specific technological advances are set to dominate in the period between 2018-2022: ubiquitous high-speed mobile internet; artificial intelligence; widespread adoption of big data analytics; and cloud technology.
New technologies could drive business growth, create new jobs and increase the demand for specialist skills, however, they can also replace job roles when certain tasks become automated. Skills gaps are major barriers to the adoption of new technologies and could therefore delay business growth.