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Highlights
- 78 million new jobs will emerge globally by 2030.
- AI, technology, and human resilience skills are critical to workforce transformation.
- 63% of employers identify skills gap as the biggest barrier to business progress.
The World Economic Forum (WEF) has recently published its annual "Future of Jobs Report," forecasting that the global job market will see the creation of 78 million new positions by 2030. The rapid transformation will be driven primarily by advancements in technology, the green energy transition, changing demographics, and shifting economic conditions. While this surge in job opportunities is exciting, the report also underscores the urgent need for upskilling and reskilling to bridge the looming skills gap.
According to the report, by 2030, 170 million new jobs are expected to be created worldwide, but these gains are offset by the displacement of 92 million jobs. The demand for skills in artificial intelligence (AI), big data, and cybersecurity will outpace other areas, as businesses transform to meet the digital age. However, human-centric skills like creative thinking, resilience, and adaptability will still be indispensable. This duality highlights the critical need to balance technological expertise with soft skills.
Employers are already feeling the weight of this gap. Based on data collected from over 1,000 companies, the WEF found that 63% of employers are grappling with this critical issue. Nearly 40% of all the skills that were required for today’s jobs are expected to change dramatically by 2030, with significant repercussions on business operations and workforce needs.
The rapid pace of technological development, from AI to renewable energy, will bring about the largest shifts in the workforce. For instance, sectors that require high-touch human roles like care and education are poised to experience the largest job growth. This will be in contrast to certain technology-focused roles, like graphic design, which may see reduced demand due to automation and advancements in design software.
Globally, industries are at a tipping point. Profound changes, particularly those stemming from generative AI, bring opportunities, yet they also pose risks to workers and industries unable to keep up with these shifts. Till Leopold, the WEF’s Head of Work, Wages, and Job Creation, commented, "The time is now for businesses and governments to work together, invest in skills, and build an equitable and resilient global workforce."
Companies like (ASX:XRO), known for driving tech innovations, play a pivotal role in this transformation. They are at the forefront of reshaping the job landscape, working toward a more skilled, agile workforce for the future. These changes reflect the growing importance of adapting workforce strategies to embrace a rapidly changing world of work, filled with new challenges but equally thrilling opportunities.
Now is the time for individuals and companies alike to invest in learning and development, as these shifts are poised to redefine work dynamics globally by 2030.
