Staying on top of the technology curve is not just a goal, but a necessity in the rapidly evolving technology landscape.
As we approach 2024, a noticeable gap exists in the tech skills market as the demand for certain skills rises. Throughout this article, we will examine the intricacies of the 2024 Tech Skills Gap, as well as the essential skills you need to stay relevant and further your career.
Understanding the Tech Skills Gap
The Tech Skills Gap is a term that resonates across industries, reflecting the growing mismatch between the skills employers need and the skills employees possess. In the dynamic world of technology, this gap is more pronounced than ever. Employers are on the lookout for individuals who can navigate the complex web of emerging technologies, from artificial intelligence to blockchain and cybersecurity.
The technology sector is a dynamic realm that constantly pushes boundaries, yet a significant gap persists between the skills employees possess and those demanded by the industry. This divide threatens the growth and success of businesses worldwide. The World Economic Forum reports that over half of all workers will require reskilling by 2025 to keep pace with technological advancements. Worries about skill relevance are prevalent, with 46% of surveyed employees fearing their skill set will become obsolete by 2024.
By 2030, an estimated 85 million jobs globally may go unfilled due to skills shortages, leading to workplace silos and reduced adaptability. Additionally, the retirement of baby boomers contributes to the skills and experience gap, creating fierce competition for top talent.
The tech industry’s diversity and inclusion issues exacerbate the skills gap. The National Centre for Women & Information Technology reports that only 26% of computing jobs in the US are held by women. The lack of diversity hampers innovation and industry progress, potentially resulting in an $8.5 trillion revenue deficit over the next decade, as per Korn Ferry’s study
Emerging Technologies Dominating 2024
In the coming year, several key technologies will be taking centre stage. Understanding and mastering these technologies can create opportunities for you to remain in demand in an industry where skilled workers are scarce.
AI is the most in-demand skill
AI and ML have transcended mere buzzwords; they now stand as the driving forces behind innovation. The demand for professionals adept at developing, implementing, and optimizing AI and ML solutions has skyrocketed. The future favours those who can leverage data to fuel intelligent decision-making. Companies are actively seeking individuals with specialized skills in this domain and are investing significantly in training and development programs to keep their workforce abreast of the latest trends in AI and ML. As the adoption of AI and ML expands, the demand for skilled professionals in these areas will only intensify.
However, the allure of AI is closely accompanied by two other indispensable technology skills: IT support and troubleshooting, and cybersecurity.
