This is one of the largest concerns of companies in 2016, and will remain so into 2017.
Increased commitment to training
CIOs in Singapore have suggested that investments have been made to keep up with the pace of technological advancements.
In countries such as Singapore, the race to digitally innovate has resulted in a growing shortage, and as a result the government has moved to provide funding to develop talent to fill these gaps. In April this year, Singapore's Ministry of Communication and Information (MCI) announced the provision of S$120 million to support the training of current and future info-communication professionals.
There is a big push to support the skills upgrading of talent, but if people do not take advantage of the funding to develop and hone the right skills for the right job, we will be facing the same talent gap issue in the years ahead.
What can we expect in 2017?
Ultimately, key issues faced in 2016 can be expected to bleed into 2017, but with technology advancing at an unprecedented rate, a new trend is emerging.
In 2017, a topic that has been widely discussed in 2016 will begin to see fruition. Technology will start replacing people.
Automation is the main trend that can be foreseen to begin disrupting the status quo of traditional human employment, as it is predicted to be the largest area of growth within technology. For example, certain organisations have deployed AI to act as virtual assistants, a role previously that would lead consumers to customer service for a more human interaction. In our recent Technology survey, 85 per cent of respondents in APAC expect AI and automation to become much more important in five years' time.
Big Data will become increasingly implemented into core businesses instead of just being used experimentally. 62 per cent of organisations in APAC stated that Big Data is being implemented to a certain extent and 21 per cent have deployed Big Data in a strategic way. It can be expected that as Big Data becomes more prominent and takes its place as a key decision marker, it will develop space for new roles and responsibilities to be created in order to leverage new discoveries.
An immense shift within the technological industry is predicted as machine learning picks up the pace, resulting in current jobs becoming automated.
With technology becoming automated, and big data still growing, there are still opportunities for professionals to stay relevant, if they look to take responsibility and upgrade their own skills. If companies wish to keep up with the speed of automation and developing technologies, they will need to invest in their people so that they are fully equipped to stay relevant in an age where technology is set to drive innovation and business success.
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