Digital Economy: Digital skills

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Remote working made possible by the Internet is extended the talent pool that companies could draw on. Though as we're here for some that has meant bringing work closer to home at the same time geography still seems to play a role in the market market for digital skills hubs like Silicon Valley and its imitators serve as beacons for digital talent can companies who seek to employ them must contend with eye watering mm salaries and rent on this month episode. We discuss the dynamics of digital skills exploring how digitization itself is shaping their supply and demand. My guests Are John Director of education at UK Innovation Foundation Nester and Chris Johnson CEO and Co founder of talent acquisition platform on cute. I started our conversation by asking. Joycy what nesters research tells us about the digital skills that will be in high demand in future so nestor has done quite a lot of research into what are the skills that are going to be in high demand in the future. We've looked at forty one million job bad birds and looked at. What are the skills that will see see an increase in demand? And what are the skills that are going to see a decrease in demand and we noticed that some of the skills that are the basic digital skills those skills which associated with toss that or jobs that are going to see a decrease in demand are required a requiring lot of digital skills else but there are some jobs like teaching chef which will require which will see an increase in demand are actually seeing a law persons age of digital skills that are required so based on our analysis the top of the most promising digital skills are things like animation multimedia the production design and engineering research and quantitative analysis with some of the more advanced digital skills raw than the basic digital skills that can be automated away. The research shows that just having these technical skills additional skills not enough you need creativity. Collaborative problem solving communication skills alongside the digital skills as well. Chris does this match your experience. At on cubed what do you find are the digital skills skills that are most in demand among US employers yes it does and we tend to focus in particular on some of the skill sets that joycy mentioned and software development and engineering and data science. And then the related sort of sweet of skill sets required to build web driven businesses. That's where most of our work is. Based and two professions or skill sets I think are growing notably fast one is is of course software developers developers which gets a lot of press and attention and even civic attention as cities. Try to figure out how to make more of these jobs. available and accessible and and that is projected elected to grow twenty one percent in the next ten years and these are US Bureau of Labor Statistics numbers but the growth is pretty similar for data science but on the data science side. The Bureau of Labor Statistics is projecting a nineteen percent increase over the next ten years. So pretty fascinating in that if you go back to the ninety s when there was this massive sort of trend towards outsourcing. The thinking was at least in the US economy and certainly elsewhere. Swear that jobs were not going to be available in the US and now twenty one thousand nine going on twenty twenty you have the government itself projecting these really really massive increases in the number of jobs available here in the US so we can't discuss skills without talking about education and training and we've seen seen in the last decade some innovations in training. I'm thinking of online trading resources sort of massively online nine courses open courses and also scoop skills boot camps which often tend to be focused on digital skills. Joycy in your your experience experience. What impact have these new method tab? Which of the most effective and not only on the availability for of skills for employers but also about the accessibility of careers in digital technology? I think it's a really interesting space because there are lots of innovations happening in that space. So you have these mooks. Massive Open online courses like Cor Sarah Dusty index but there are also hold range of other online courses Lincoln Learning And others they have an interesting mortal some are like A university which is online and people can access it anywhere and then there are others. That are much more like a trade school. But the biggest challenge with these online courses is the law retention rate So hundreds thousands of people sign up but not many complete or not many go on to get the certification. So Nesta's doing some research to really looking at what motivates adults to learn. And how can you give them the right information advice and guidance so that can continue on this lifelong learning journey johnny. We're also launching a career tech challenge which is specifically looking at addressing this issue of not enough people using the online tools to upscale and rescheduled is to say that these things haven't had the impact that we're expecting for five years ago I would say it has had an immense impact because lot of people who couldn't have access to high quality education can now access it and without mooks that wouldn't be possible but in terms of really helping people transition position two jobs it still hasn't delivered on that promise and there are some new models you mentioned boot camps that have come up which give three months of training and but they cost ten thousand thousand dollars so it's super expensive and there's Avai small subset of society that can actually access these boot camps. There are some other innovations that are happening which are absolutely free and the only criteria forgetting his motivation and your potential to work hard and one example of that is equal forty two based in in France and now they have Opened in US and the model has been replicated in many other countries like Russia and many countries in Africa. Gotcha Chris so in your work. You connect candidates with employers. Have you seen these new approaches to skill development having an impact so far on for example the supply supply of skilled candidates on. I think all of these models have fallen way short versus the headline promise and certainly the the idea that a lot of investors astor's dumped hundreds of millions or billions of dollars into I think the numbers of people that have either found new career. You learned a new skill set outright through self directed online training is actually quite small and there certainly are success stories but I think we as a as a people might not be ready to learn that way I think on the other hand the bootcamp model which joys Aegis touched on in an laid out some of the different models and structures that we're seeing in the market now I think that has been effective and to her point. The original the original model is quite expensive and therefore prohibited for people. If it's ten thousand ten thousand dollars or or more per person but the model itself has been quite effective and I think what people are seeing out of it is a chance a two in a concentrated time really learn a new skill set that that can get a job and it's it's not perfect but we see plenty of bootcamp grads. Ads End up with very successful career as even at at Mike. Company on cubed our lead software developer came from a boot camp. She was a teacher and worked in education before

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