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Trend Opportunity Profile - Digital Upskilling

  • Report

  • 52 Pages
  • September 2021
  • Region: Global
  • Frost & Sullivan
  • ID: 5448145

Growth Opportunities in Upskilling and Reskilling the Future Workforce

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.

The publisher 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

1. Strategic Imperative
  • Why is Growth Becoming Increasingly Difficult to Achieve?
  • The Strategic Imperative 8™
  • Our Mega Trend Universe - Overview
  • Growth Opportunities Fuel the Growth Pipeline Engine™

2. Executive Dashboard
  • Key Findings
  • Growth Opportunities Critical to Future Success

3. Trend Opportunity Analysis
  • Trend Opportunity Overview - Upskilling vs. Reskilling
  • Trend Opportunity Overview
  • Trend Opportunity - Regional Exposure
  • Trend Opportunity - Industry Implications
  • Trend Opportunity Levers
  • Trend Opportunity Attractiveness Analysis
  • 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 Matrix - Trend Innovation Index
  • Innovation Attractiveness Score
  • Trend Opportunity Matrix - Trend Growth Index
  • Growth Attractiveness Score
  • Trend BEETS Implications

4. Growth Opportunity Analysis
  • Growth Opportunity Levers
  • Growth Opportunity 1: Personalized Microlearning for Workforce Upskilling
  • Growth Opportunity 2: AI-based Edtech
  • Growth Opportunity 3: Digital Collaboration Boards for Training
  • Critical Success Factors for Growth
  • Conclusion - The Way Forward

5. Next Steps
  • Identifying Your Company’s Growth Zone
  • Your Next Steps
  • List of Exhibits
  • Legal Disclaimer

6. Appendix

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Amazon
  • IBM
  • L’Oreal
  • Tech Mahindra