In March 2023, the Ministry of Manpower (MOM) released the List of Jobs in Shortcomings (SOL), which lists occupations where skills are in short supply in Singapore. Beginning in September, Employment Pass (EP) applicants holding these jobs will receive preferential treatment during the application process.
Of the 27 occupations on the list, almost half belong to the information and communication technology sector. The role of cybersecurity is ubiquitous alongside data analytics and digital forensics.
This trend was seen even before the pandemic. Heading into 2019, analytics and data-driven jobs were predicted to be the most in demand in Singapore. The rapid advance of digitization is adding to this, and the skills gap has yet to be overcome.
Green economy-related jobs such as carbon trading, analysis and validation are also notable and represent a newer trend, though not unexpected.
Human Resources Minister Tan Si Leng recently commented that one of the criteria for a job at SOL is its strategic importance to Singapore’s economic priorities. Considering the Singapore Green Plan 2030, this seems consistent with the country’s commitment to sustainability.
Other sectors on the list include not only agricultural technology and financial services, but also health care and maritime, which have long been in demand.
Growing demand for cybersecurity
With the rise of artificial intelligence (AI), job security concerns are plaguing various roles in technology, finance, and marketing.
In cybersecurity, AI is also replacing low-level roles such as scrutinizing data logs. However, a new role with adjusted job scope is created at the same time.
Data analytics, for example, is one of the key use cases for AI and machine learning (ML), enabling businesses to personalize their services and drive increased revenue. Misimplementation of such systems can also make them targets for data breaches. As a result, businesses must invest equally in ensuring the privacy of their own data and that of their customers.
AI is contributing to cybersecurity needs, and as a result, the industry is rapidly establishing itself as a safe haven for job security.
Emphasis on the role of cybersecurity is becoming increasingly common, even among professionals without an information technology (IT) background. In Singapore, Red Alpha Cyber Security is one of the local institutions that trains talent from diverse backgrounds in cyber security.
“Cybersecurity is available to everyone, regardless of qualifications, field of study or work experience,” said CEO Benjamin Tan. “This is because cybersecurity is a skills-based profession and is constantly evolving.”
Red Alpha’s bootcamp has trained professionals who previously worked in fields such as music, graphic design, and psychology. “Employers in cybersecurity roles typically focus on candidates with practical skill sets rather than those with generic computing degrees and diplomas.”
Cybersecurity trends are happening all over the world, and by 2022 there will be a serious shortage of professionals. Cybersecurity remains safe from headwinds as the tech industry continues to lay off thousands.
Greening
Developing a carbon credit infrastructure has become a key goal as Singapore seeks to reach net zero (a state where all greenhouse gas emissions are effectively zero).
Carbon credits represent the removal of carbon dioxide from the atmosphere as compensation for emissions by businesses or governments. They are produced by climate change organizations working on carbon offsets.
Singapore’s carbon tax is phasing up to 2030, giving businesses more incentive to offset their emissions. To that end, it is important to make carbon trading efficient and accessible.
Human resources are required to ensure that carbon credits meet standards. You should verify the origin of the credit and audit the producer from time to time. Traders and brokers also need to facilitate market trading.
In Singapore, companies such as URECA and AirCarbon Exchange are now providing digital platforms for carbon trading. Private investment in climate technology is also rising across Southeast Asia, surpassing the record of over US$1 billion in 2022.
According to SkillsFuture, the demand for skills in carbon market strategy and sustainable investing has grown by more than 1,500% over the past five years. The sector is expected to continue to grow as the impacts of climate change become more and more significant.
Growing need for skill improvement
Disruptive innovation requires proactive skill development. AI will take over roles in advertising, financial analysis, graphic design, and more. With that comes a new need for professionals who can use and optimize AI programs.
Educational platforms such as Coursera and edX are already offering courses on using ChatGPT and other AI tools. There’s a lot you can learn about creating effective prompts and getting the most out of AI.
Demand for such skills is likely to rise as companies adopt AI technology. A poll conducted by Resume Builder in April this year revealed that 9 out of 10 companies he currently employs want employees with his ChatGPT experience.
While such a system is still new, it’s an ideal time for professionals to get a head start in tomorrow’s job market.
Featured image credit: MyCareersFuture
Also read: Singapore’s AI job market is booming – here are 10 companies currently hiring
