An Education Needs Assessment of CARIFORUM Firms

1.1.1. Technological Progress

Tech-Focused Skills Emanating from Technological Progress

Robotic Process Automation, Artificial Intelligence, Blockchain, the Internet of Things, Big Data,

3D Printing, and Augmented and Virtual Reality are some of the popular technological

breakthroughs transitioning the operating paradigm of companies from being human resource

intensive to technology-centric (Medium 2018; APEC Transportation Working Group 2021;

OECD 2017a; OECD 2019a). The World Economic Forum (2020) predicts that by 2025 “ fourth

industrial revolution ” technologies will create 97 million new jobs and displace 85 million,

creating a positive net effect of 12 million jobs, with 50% of all employees needing to be reskilled

(see Table 1). These technologies are also fundamentally transforming the type of labour required,

as organizations’ talent needs move away “from people following processes and supported by

technology, to technology following processes and supervised by people” (Medium 2018; Nunes

2021). Subsequently, digital transformation, which the COVID-19 pandemic has also accelerated,

demands a range of tech-focused skills (see Text Box 1).

Table 1: Predicted Technology Impact on Global Job Landscape

GROWING JOB DEMAND

DECREASING JOB DEMAND

1. 2. 3. 4. 5. 6. 7. 8. 9.

Data Analysts and Scientists

1. 2.

Data Entry Clerks

AI and Machine Learning Specialists

Administrative and Executive Secretaries

Big Data Specialists

3. Accounting, Bookkeeping and Payroll Clerks 4. Accountants and Auditors 5. Assembly and Factory Workers 6. Business Services and Administration Managers 7. Client Information and Customer Service Workers 8. General and Operations Managers 9. Mechanics and Machines Repairers 10. Material-Recording and Stock Keeping Clerks

Digital Marketing and Strategy Specialists Process Automation Specialists Business Development Professionals Digital Transformation Specialists

Information Security Analysts

Software and Applications Developers

10. Internet of Things Specialists

Source: World Economic Forum (2020)

6