Skill Gaps

Skill and talent gaps are generally increasing. The skill gaps go beyond HR issues, as it connects with both the Technology Acceleration and the Automation and AI drivers. It also connects with Inequality driver. There is concern about a growing in which the skills gap becomes increasingly insurmountable. The continued reliance on technology and virtual work threatens to leave many people behind. The desirability of the technological march is perhaps not adequately questioned, i.e., is this the world we want. The answer is assumed to be “yes.”

Non-ferrous Metals Manufacturing: Vision for 2050 and Actions Needed by the European Commission Joint Research Centre followed a participatory and qualitative approach in this foresight study, involving representatives from the industry, research institutions, policymakers, trade unions, and stakeholders from both upstream and downstream sectors. The study aimed to establish a long-term vision for the industry by 2050 and propose specific actions for the industry, policymakers, and other stakeholders to address the sector's challenges related to trade, competition, innovation, resources, business integrity, and skills, thereby advancing towards the envisioned future. One of the key trends identified as influential to the industry was “talent and skills.” This covers i) how to preserve knowledge and skills that will remain relevant in the long-term, and ii) how to acquire new skills needed to succeed in the technological transformation.

The Future of Learning and Training: Environmental Scan by Policy Horizons Canada explores new models of learning and training through the lens of the employee and employer. It also looks at technological innovations in the field. This exploratory report aims to assist in policy development in Canada. What students need to learn is shifting. Students will need to develope new skills for a new economy driven by new technologies. Repetitive cognitive tasks will be largely replaced by AI.

GAO 2018-2023 Strategic Plan: Trends Affecting Government and Society by US Government Accountability Office is a study on the challenges faced by the federal government in managing and overseeing cybersecurity risks. Advances in information and communication technology, AI, and robotics are expected to change the nature of work, creating new jobs and destroying old ones. New skills will be needed to succeed in the workforce. Those with the requisite skills will be in high demand, and those without may have difficulty finding and sustaining employment.

Future of Consumption in Fast-Growth Consumer Markets: India by the World Economic Forum in collaboration with Bain & Company examines the future of India's consumer market, anchored in the growth of the upper-middle and high income classes. Economic growth and inclusive consumption is the key to addressing major challenges like skilling and job creation, closing the rural-urban gap, and building a healthy and sustainable future. Over the next decade, India will see a boom in working-age citizens. However, few workers are formally skilled or employed in formal-sector jobs. Leaders across industry, academia, and policy in India have expressed concern about the employability of the workforce and preparedness for economic and technological changes over the next decade.

Thinking MENA Futures: The Next Five Years and Beyond by the Middle East Institute is a series of essays looking at the next 5 years (2021-2026) for the Middle East and North Africa. One of these essays, Technology and Youth Drive: the Future of Work in MENA, discusses the region's difficulty creating enough jobs to accommodate the 'youth bulge.' There is an acute digital skills gap- skills around digital hardware, coding, IT, product design, and data and analytics are some of the least available.

Emerging economies: demographic change by UK Government Office for Science focuses on the demographic changes occurring in emerging economies and their potential implications. It highlights the significant growth of the middle class and urban populations, as well as aging populations and increasing life expectancy. Emerging economies face the challenge of educating and employing more young people. The quantity and quality of jobs does not keep up with demand.

Oil & Gas 2030: Let There Be Change by Accenture discusses how the oil and natural gas industry should respond to the challenges of an abundance of supply, the growing momentum toward decarbonization and the structural shifts in consumer behaviors. One strategy is rethinking the composition of the workforce and creating a lean, multiskilled, and multigenerational pool of talent that is comfortable co-existing with smart digital automation.

Driving Forces 2035 Cards by Singapore Government Centre for Strategic Futures provides a series of concise and informative cards that highlight key concepts and insights. These cards cover various topics such as strategic foresight, emerging technologies, global trends, and security challenges. Workers are achieving higher qualifications and with this broader perspective their aspirations are also expanding. Attracting talent and large digital businesses are linked: workers want to go where the businesses are, businesses want to go where the workers are. As a result, workers may need to become more mobile.

Future Scenarios and Implications for the Industry by World Economic Forum presents three potential future scenarios and their implications for the infrastructure urban development industries: 1.) Building in a virtual world; 2.) Factories run the world; 3.) A green reboot. These scenarios explore different paths of technological advancement, social changes, and environmental challenges. In all three scenarios, new technologies require talent with substantially different skills from those the workforce possesses today, exacerbating the existing talent gap.

Human Progress and Human Services 2035: A Scenario Exploration by Institute for Alternative Futures explores the future of human services and its impact on human progress in the year 2035. It envisions a shift towards personalized, integrated, and technology-driven services that prioritize individual well-being and social equity. The endnotes list topics explored to help develop the scenarios. Among these is job loss to automation. Automation and cognitive computing will have a big impact on the economy, family income, and the need for human services. These technologies will create some new jobs, but jobs created will be far fewer than jobs lost.

Scenarios for the Russian Federation by World Economic Forum analyzes four different scenarios for the future of Russia, based on varying levels of economic, political, and social development. These scenarios range from a “Global Reset” that sees a complete overhaul of the world economy, to a “Low Momentum” scenario where Russia stagnates in its current state. One of the influential global forces shaping these scenarios is the combination of demographic shifts and talent mobility. The increasing demand for highly skilled professionals, who prioritize quality of life and exhibit greater mobility, poses a significant challenge for countries reliant on human capital for economic development, as their ability to attract international talent becomes crucial for achieving success.

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