By Steve Safarowic |For all of the benefits that artificial intelligence will bring to make lives simpler and empower organizations, it also carries a dark side effect that we can’t ignore: a widespread skills misalignment that will lead to a global tech talent shortage of epic proportions.
By 2030, the Asia-Pacific region will experience a labor skills shortage of 47 million people, while 800 million jobs will be lost globally to automation.
Despite a wealth of publicly accessible data available on the matter, many of us don’t seem to get it, or at least want to get it. It’s easy to overlook the threat of traditional retailers along with their thousands of employees facing redundancy by online delivery, or that about one-third of jobs in finance and insurance will become obsolete.
Until now, technology has mostly made our lives simpler. Personal and workplace software automate tasks, letting us focus our energy elsewhere.
Upskilling to make yourself future-proof is an obvious solution. However, high-quality tech education is expensive and inaccessible. With Asia expected to suffer an unrealized output of US$4.2 trillion due to a shortage of skilled workers and a notoriously traditional education system to fall back on, disruption is imminently necessary here more than anywhere.
Some governments have begun to acknowledge this by offering continuing education subsidies to residents, while the number of employers upskilling their existing staff has doubled in recent years on account of personnel replacement costs being up to 400% of an annual salary.
About The Author
Steve Safarowic is the Head of Marketing and Product at Accelerate, a Hong Kong startup focused on bridging the gap between education and employment in Asia. Accelerate is a TechEd startup that is democratizing education and upskilling workforces en masse. Driven by growth, Steve has been a strategic contributor behind creative campaigns and brand building for Hardware IoT, SaaS, and Media companies in the Greater Bay Area since 2012. xccelerate.co