Trend Opportunity Profile—Digital Upskilling

Trend Opportunity Profile—Digital Upskilling

Growth Opportunities in Upskilling and Reskilling the Future Workforce

RELEASE DATE
06-Sep-2021
REGION
Global
Deliverable Type
Megatrends
Research Code: K644-01-00-00-00
SKU: CI00769-GL-MT_25749
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Description

In this rapidly changing work environment, upskilling allows organizations to close the talent gap and fill new and open positions while maintaining their current workforce, creating an environment of continuous learning and development. Reskilling has a longer-term impact, preparing the workforce for jobs that do not exist today. On average, about 40% of workers will require reskilling of 6 months or less.

Frost & Sullivan has identified 2 aspects of the skilling paradigm:
• A digital-first approach to upskilling allows the high- and medium-skill workforce to acquire new digital skills for an existing job or for a job that has yet to be created. Reskilling for digital transformation caters to the low-skill workforce, building educational solutions that will help workers transition from jobs that have a high risk of automation.
• An increasingly globalized and technologically sophisticated workplace will value employees who are culturally fluent, have a higher level of emotional intelligence, and are resilient. Demand for cognitive skills such as creativity, critical thinking, decision-making, and complex information processing will grow through 2030.

Opportunities in automation, artificial intelligence, Internet of Things management, 3D printing, and space exploration will emerge in the short to medium terms. Some 85% of jobs or tasks that students of today will be performing do not exist; jobs of the future will solve challenges and cater to technology trends beyond the next 5 to 10 years.

A growing generational divide is triggering a digital divide: the workforce composition will change in the next 5 years as older workers retire. Job automation already has been one of the changes seen during the COVID-19 pandemic. Companies are increasing their investment in worker reskilling and are forging partnerships with coding boot camps and other programs to increase workers’ access to digital skills.

Table of Contents

Why is Growth Becoming Increasingly Difficult to Achieve?

The Strategic Imperative 8™

Our Mega Trend Universe—Overview

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Growth Opportunities Critical to Future Success

Trend Opportunity Overview—Upskilling vs. Reskilling

Trend Opportunity Overview

Trend Opportunity Overview (continued)

Trend Opportunity—Regional Exposure

Trend Opportunity—Industry Implications

Trend Opportunity Levers

Trend Opportunity Attractiveness Analysis

Trend Opportunity Attractiveness Analysis (continued)

Trend Opportunity Attractiveness Analysis (continued)

Trend Opportunity Use Cases

Trend Opportunity Case Study—L’Oreal

Trend Opportunity Case Study—Tech Mahindra

Trend Opportunity Case Study—IBM

Trend Opportunity Case Study—Amazon

Trend Opportunity Impact and Certainty Analysis

Trend Opportunity Impact and Certainty Analysis (continued)

Trend Opportunity Matrix—Trend Innovation Index

Innovation Attractiveness Score

Trend Opportunity Matrix—Trend Growth Index

Growth Attractiveness Score

Trend BEETS Implications

Growth Opportunity Levers

Growth Opportunity 1: Personalized Microlearning for Workforce Upskilling

Growth Opportunity 1: Personalized Microlearning for Workforce Upskilling (continued)

Growth Opportunity 2: AI-based Edtech

Growth Opportunity 2: AI-based Edtech (continued)

Growth Opportunity 3: Digital Collaboration Boards for Training

Growth Opportunity 3: Digital Collaboration Boards for Training (continued)

Critical Success Factors for Growth

Conclusion—The Way Forward

Identifying Your Company’s Growth Zone

Your Next Steps

List of Exhibits

Legal Disclaimer

Our Mega Trend Universe

Our Mega Trend Universe (continued)

In this rapidly changing work environment, upskilling allows organizations to close the talent gap and fill new and open positions while maintaining their current workforce, creating an environment of continuous learning and development. Reskilling has a longer-term impact, preparing the workforce for jobs that do not exist today. On average, about 40% of workers will require reskilling of 6 months or less. Frost & Sullivan has identified 2 aspects of the skilling paradigm: • A digital-first approach to upskilling allows the high- and medium-skill workforce to acquire new digital skills for an existing job or for a job that has yet to be created. Reskilling for digital transformation caters to the low-skill workforce, building educational solutions that will help workers transition from jobs that have a high risk of automation. • An increasingly globalized and technologically sophisticated workplace will value employees who are culturally fluent, have a higher level of emotional intelligence, and are resilient. Demand for cognitive skills such as creativity, critical thinking, decision-making, and complex information processing will grow through 2030. Opportunities in automation, artificial intelligence, Internet of Things management, 3D printing, and space exploration will emerge in the short to medium terms. Some 85% of jobs or tasks that students of today will be performing do not exist; jobs of the future will solve challenges and cater to technology trends beyond the next 5 to 10 years. A growing generational divide is triggering a digital divide: the workforce composition will change in the next 5 years as older workers retire. Job automation already has been one of the changes seen during the COVID-19 pandemic. Companies are increasing their investment in worker reskilling and are forging partnerships with coding boot camps and other programs to increase workers access to digital skills.
More Information
Deliverable Type Megatrends
No Index No
Podcast No
Author Chaitanya Habib
Industries Cross Industries
WIP Number K644-01-00-00-00
Is Prebook No
GPS Codes 9A3B