Market Projections: The Future Of Jobs Report 2018 Summary

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Market Projections: The Future Of Jobs Report 2018 Summary

By Joshua Pollock | November 8, 2018

The World Economic Forum’s “The Future of Jobs Report 2018” shows a positive outlook for jobs as a whole. Its research indicates a decline of 980,000 jobs and a gain of 1.74 million jobs through 2022. And while technology is driving business growth, it doesn’t mean machines are taking over for humans. With what’s being called the Fourth Industrial Revolution (meaning robotics, artificial intelligence, nanotechnology, quantum computing, biotechnology, internet of things, 3D printing and autonomous vehicles), there are certain skills that will emerge as high-need, as well as roles that stand out across industries.

To see what market projections show as the best careers for the future, read on:

Technologies

There’s no doubt that technology is driving business growth. “The Future of Jobs Report 2018” shows the top five trends positively impacting growth through 2022 are all technology-related:

  • Increasing adoption of new technology
  • Increasing the availability of big data
  • Advances in mobile internet
  • Advances in artificial intelligence
  • Advances in cloud technology

Other drivers include shifts in national economic growth, expansion of affluence in developing economies, expansion of education, advances in new energy and expansion of the middle class.

Companies are harnessing emerging technologies to increase efficiency and productivity, expand into new markets and compete globally. But because of the influx of new capabilities, organizations are being forced to prioritize implementation. The top five technologies companies report they’re planning to adopt by 2022 are:

  1. User and entity big data analytics (85 percent)
  2. App- and web-enabled markets (75 percent)
  3. Internet of things (75 percent)
  4. Machine learning (73 percent)
  5. Cloud computing (72 percent)

Skills

Demands of skills in the market will shift from 2018 to 2022, and beyond technological aptitudes. “Analytical thinking and innovation” remains at the top spot as “active learning and learning strategies” and “creativity, originality and initiative” move up to round out the top three. Of course, companies that are adopting new technologies will need employees who can optimize those technologies and, therefore, “technology design and programming” and “systems analysis and evaluation” make their appearance on the 2022 list (replacing “attention to detail, trustworthiness” and “coordination and time management” from 2018).

Roles

Because of the market shift toward technology, some roles that were once considered a gateway to a lifelong career are becoming redundant, including:

  • Data entry clerks
  • Accounting bookkeeping and payroll clerks
  • Administrative and executive secretaries
  • Assembly and factory workers

Roles that are either predicted to grow in need or remain stable through 2022, across multiple industries, include:

    • Data analysts and scientists
    • Managing directors and chief executives
    • Artificial intelligence and machine learning specialists
    • Software and applications developers and analysts
    • Sales and marketing professionals
    • Big data specialists
    • Digital transformation specialists

 

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About the Author
Joshua Pollock

Josh Pollock is a Quant, Tech and Data (QTD) specialist at GQR operating out of the Los Angeles office.

He works across a geographically distributed client list within technology, investment management, alternative data and artificial intelligence.

His network of elite clientele gives him access to the most compelling projects in the world. Following his passion for finance and data analytics, Josh moved from the fitness industry to tap into the quantitative finance space to work alongside industry leaders.

Josh Graduated from the University of St. Thomas in St. Paul, Minnesota with a degree in Business Administration.

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