Digital transformation, automation, and globalization are rapidly reshaping the job market, demanding an urgent need for workers to continuously develop their skills. This shift is further amplified by the emergence of generative AI, which poses new challenges and necessitates reskilling for a new class of knowledge workers.
To properly prioritize sought-after competencies and prepare your workforce for the coming challenges and opportunities, a data-driven approach is needed.
According to the third annual Coursera’s Job Skills Report, which stands as a valuable reference for developing innovative skill strategies, there are 8 key fastest-growing skills for 2024:
- Leading Teams with Empathy
- AI-Related Skills for Increased Productivity
- Cybersecurity and Information Security
- Business Skills & Digital Marketing as Core
- Data Visualization for Faster Decision-Making
- Cloud Computing
- Audit and Compliance Skills
- Customer Retention
Top Job Skills Driving Innovation in 2024: Overview
Here’s a quick summary of the fastest-growing job skills in business, technology, AI, data science, and cybersecurity for 2024:
Fastest-Growing AI Skills
Estimates at Bloomberg Intelligence show the market for AI solutions is set to grow to $1.3 trillion over the next decade, while job listing site Upwork reported a 1000% increase in the number of generative AI job posts made in the first half of 2023.
Not surprised? So are we. Explore below the fastest-growing AI skills enabling learners to build ML models, facilitate automation, and more.
Cloud Computing
Gartner expects the global cloud computing market to have skyrocketed from $490.3 billion in 2022 to $591.8 billion in 2023.
It presents an exciting opportunity for businesses and job seekers, with cloud computing jobs being some of the most in-demand roles in the tech industry.
Cybersecurity
With the critical need to protect against growing numbers of cyberattacks worldwide and the increasing capabilities of AI creating new security considerations, investment in cybersecurity skills will benefit employees and institutions alike in the year ahead.
There’s an estimated shortfall of more than 3.4 million cybersecurity workers. That figure is likely to climb, with employment of information security analysts expected to grow 32% from 2022 to 2032 in the United States alone.
Audit and Compliance Challenged by AI Regulations
Only 37% of HR leaders, in-house counsel, and executives guide employees in using AI tools.
Meanwhile, data privacy and security rank as the top concerns of Chief Intelligence Officers regarding AI.
With generative AI transforming productivity, it will be crucial to develop the capability of employees to review and evaluate an organization’s compliance.
Customer Success
Customer success and relationship management skills are among the top ten fastest-growing business skills.
According to McKinsey, unlocking new revenues from existing customers accounts for 80% of value creation in leading growth companies.
So, there is a burning need for businesses to navigate customer retention and expand the value delivered to both current and potential customers.
Leadership
“Manager effectiveness” is ranked as the top priority for HR leaders—and employees are facing change fatigue, with willingness to support organizational change collapsing from 74% in 2016 to 43% in 2022.
To effect change, the leaders of tomorrow will need to be agile, compassionate, and able to keep individuals and businesses aligned.
Data-Literacy as a Baseline Expectation for Employers
Today, only 11% of employees are confident in their ability to read, analyze, work with, and communicate with data—showcasing the vast need for upskilling and learning.
Institutional leaders recognize the need to respond, with 85% of C-suite executives believing that being data-literate will be as vital in the future as the ability to use a computer is today.
So, data visualization with the help of business intelligence software also joined the top of the fastest-growing skills.
Digital Marketing
The rapid growth of the global advertising and marketing industry, which is expected to rise to $1.5 trillion in 2030, illustrates the spurred demand for digital marketing skills. In the US alone, employment in digital marketing-related professions is projected to grow rapidly up to 2032.
Meanwhile, shifting consumer behaviors—powering trends like increased social selling—with 76% of people making buying decisions on social media—call for upgraded skills from digital marketers.
To adapt to a new paradigm, organizations should invest now in equipping learners with the skill sets to deliver modern marketing strategies.
Your Workforce Check
By addressing these questions, you may check if your organization has the right skills.
Strategic Alignment:
- Which job skills are most critical for achieving your business goals and strategic initiatives?
- How do these skills differ across departments and levels within the organization?
- Are there any skills gaps that could hinder our progress, and how can we address them?
Talent Acquisition & Retention:
- How can we attract and retain top talent who possess these critical skills?
- What are our competitors doing regarding these skills, and how can we compete effectively?
- How can we develop and upskill our workforce to meet these changing demands?
Future-Proofing the Organization:
- What emerging technologies and trends might impact the skillset we need in the future?
- How can we invest in skills that will remain relevant and valuable in the long term?
- What kind of culture and learning environment do we need to foster continuous skill development?
How to Find and Hire Sought-After Specialists with Digital Mindsets in 2024
While a business-driven digital mindset is critical for increasing competitive advantage, leaders need well-established best practices to find and onboard it or unlock it in current employees.
Wherever you are on your digital journey, we’re ready to help. Our experts can support you with extracting your potential to transform, innovate, and grow by:
- Delivering digital mindset—the only one that can help with innovation: technical expertise ensures your digital programs and processes are up to date and as efficient as can be.
- Integrating top talents with your current team through the Remote In-Sourcing® model.
- Forming the most efficient distributed teams through the just-right Team Formation methodology.
With a digital mindset, you’ll ask the right questions, make smart decisions, and appreciate new possibilities for a digital future. Leaders who adopt advanced approaches will be able to develop their organization’s talent and prepare their company for successful and continued digital transformation.
Feel free to connect with our experts to discuss your unique needs and what it really takes for your business to thrive in the age of data, algorithms, and AI.
Summing Up
All in all, companies looking to boost competitiveness in 2024 have a wealth of opportunities:
- Make data-driven decisions while identifying priority skills.
- Invest in upskilling and reskilling of your workforce.
- Embrace automation and AI with qualified audit, cybersecurity, management, and marketing professionals on board.
- Rely on a trusted technology partner to help you source and acquire sought-after specialists with Digital Mindsets.
