As companies adapt to rapid advances in enterprise AI, the skills gap is becoming a barrier to continued success.
In fact, research shows that businesses are facing a global shortage of digital skills, with only 33% of tech jobs worldwide currently filled by the skilled workers they need.
A widening skills gap can lead to a mismatch between the digital expectations of business leaders and employees, which can result in increased employee burnout and dissatisfaction and put companies at a disadvantage in innovative projects, making them less competitive and unable to take full advantage of new technologies such as AI.
To help employees reach their full potential, companies are increasingly needing to invest in improved strategies and education to equip employees with the skills they need to thrive.
With this in mind, Technology Magazine spoke exclusively to Rajesh Khanna, Chief Revenue Officer at Bridgenext, about how companies can address the knowledge gap to retain significant business value.
The evolving skills gap in the workplace
As the workplace continues to evolve with rapid digital transformation, there are certain critical skills that are in high demand. As Rajesh explains, mastering AI and building AI models is essential if businesses want to stay competitive.
“Equally important is the ability to focus on data and analytics, enabling organizations to extract greater value from their data reservoirs,” he said. “Having a firm grip on data and analytics is also essential to improving marketing effectiveness and driving revenue growth.”
He adds: “Cloud computing expertise is essential as businesses move to and optimise their operations on the cloud. Additionally, domain-specific skills are also important, enabling experts to customise technology solutions to meet industry-specific needs.”
As more organizations prioritize AI adoption to maximize their technology investments, Rajesh emphasized that these skills will become increasingly important for businesses to stay ahead. This has become especially important in the wake of the COVID-19 pandemic, which has helped reshape the technology skills landscape by bridging the gap between remote and office workers.
Rajesh suggests that this trend is set to continue. “We've found that many tasks can be done just as effectively offshore, widening the talent pool with common skills and making these skills more available around the world,” he points out. “But finding the right talent for emerging technologies like AI, data and analytics, and cloud computing remains a challenge. These specialised skills are now even more valuable, and you often have to pay a premium to secure the best talent.”
“The pandemic has democratized access to common tech skills, but it has also increased the demand and cost for cutting-edge expertise.”
Steps business leaders can take to close the skills gap
When it comes to training employees, business leaders often make oversights and mistakes. Rajesh points out that one common mistake companies make is training their teams for specific projects, rather than equipping them with a broad range of foundational skills.
“This puts them in a bind,” he points out. “In the long run, it limits their ability to adapt and solve problems, which can reduce the overall value that tech teams bring to the company. Another problem is that they're not offered ongoing skills development.”
Rajesh explains that without consistent training, employees will quickly fall behind and their skills will not keep up with technological advancements. Looking at the broader picture, companies that are not currently fully engaging with technology consulting firms could be faced with a larger talent gap and therefore a larger gap in organizational capabilities. These films are invaluable for companies as they can bridge the skills gap with customized strategic guidance.
“Focusing only on training and not on the application of skills is also a big oversight. Employees need to apply what they learn in real-world situations to truly master new skills,” he says.
