McKinsey: Demand for technological skills set to rise 55% by 2030

A new report from the McKinsey Global Institute has revealed that digital skills are set to become increasingly important as the global economy continues to change and more readily incorporate new technologies within their operations.

According to the study, Skills Shift: Automation and the Future of the Workforce, demand for technological skills will rise 55% by 2030, coming to represent 17% of all hours worked, up from the 11% recorded in 2016.

See also:

• The seven step IT skills gap strategy

• Business and education: Solving the digital skills gap

• Closing the digital skills gap: Q&A on attracting and retaining technology talent

These results have been found by quantifying time spent on 25 core workplace skills across the banking, insurance, energy, mining, healthcare, manufacturing and retail sectors in terms of hours worked.

However, it is clear that businesses are beginning to recognise the need for upskilling, with more than half of the companies surveyed by McKinsey stating that they expect to take the lead in building a workforce for the future, readily offering and training workers in new ways.

“McKinsey’s latest report is further evidence that organisations are sitting up and taking notice of AI capabilities,” said Melissa Di Donato, Chief Revenue Officer, SAP Cloud ERP.

“The business landscape is everchanging, which breeds uncertainty and presents business leaders with a constant glut of difficult decisions to make, so it’s great to see that AI is starting to be seen as an opportunity, not a threat.”

“This report highlights that business leaders are distancing themselves from the illusion that AI is here to take our jobs and are instead viewing the two as complementary. This is crucial if AI is to be harnessed to full effect.”

The survey was carried out amongst 3,000 business leaders in seven countries, highlighting the shift in emphasis to more readily promoting continuous learning in the workplace.

For more information, see the full Skills Shift: Automation and the Future of the Workforce report from McKinsey.