TECHNOLOGY will continue to shape job oppotunities even though there is a huge mismatch in the demand for talents.
In the coming decade, 20% to 30% of the time that worker spend on the job could be transformed by automation technologies, according to McKinsey & Co in its Technology trends outlook 2023 report.
This will lead to significant shifts in the skills required to be successful.
The onus is on companies to adjust roles or upskill individuals.
Job postings related to tech trends grew at 15% between 2021 and 2022, while global job postings decreased by 13%.
Applied artificial intelligence (AI) and next generation software development combined posted nearly one million jobs between 2018 and 2022.
Investments in technology have tightened in most tech trends year-over- year but the potential for future growth is high.
Total investments in 2022 reached US$1 trillion (RM4.53 trillion).
Generative AI has since made a grand entrance.
It is expected to add as much as US$4.4 trillion (RM19.9 trillion) in economic value from a combination of specific use cases.
Organisations should not focus on trends that are garnering the most attention, according to the McKinsey report.
If they continue to do so, they may miss out on the significant potential of other technologies, and this will deny them of the chance of purposeful capability building.
Instead, they should look at growth in the long term and focus on a portfolio-oriented investment across the tech trends that are important to their business, according to the report.
Credit: The Star : Business Feed
