A huge growth in demand for technology skills is expected for the future jobs market, according to the Future of Jobs Report 2025.
The report which was published at the World Economic Forum revealed that technology skills in AI (artificial intelligence), big data and networks and cybersecurity are set to see the fastest growth in demand.
While there is a huge demand for technology skills, human skills including analytical thinking, cognitive skills, resilience, leadership and collaboration will remain important core skills.
A combination of both technology and human skillsets will increasingly be required by a number of growing jobs.
The report also showed that the skills gap continues to be a major obstacle to business transformation in response to global macrotrends with 63% of employers citing as a main barrier to future-proofing their operations.
If the global workforce were represented by a group of 100 people, then 59 are projected to require reskilling or upskilling by 2030 of which 11 of whom are unlikely to receive it.
This translates to over 120 million workers at medium-term risk of redundancy, according to the report.
AI and upskilling
According to the Future of Jobs 2025 report, business models are being reshaped by AI, with half of employers across the world planning to reorganise their business to target new opportunities that result from the technology.
The most natural workforce answer to these changes is expected to be upskilling workers, with 77% of employers planning to do so while 41% of employers plan to cut their workforce as AI automates certain tasks.
The report said that almost half of employers expect to switch staff from roles that are exposed to AI disruption into other parts of their business, an opportunity to mitigate skills shortages while decreasing the human cost of technological transformation.
Due to the rapid rise of emerging technologies, business leaders, policy-makers, and workers must collaborate to ensure workforces are prepared and to mitigate unemployment risks across sectors and geographies.
IOL Business