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Taking a future-back perspective
While automation is rendering certain roles obsolete, new ones are created at the same time. The World Economic Forum estimates that by 2025, 85 million jobs may be displaced through automation, and 97 million new ones may emerge.3
Digital skills are in short supply across all sectors. The “half-life” of learned skills is estimated at five years and is even shorter for technical skills, necessitating agile skill adaptation.4 A 2022 survey of over 23,000 workers in 19 countries revealed that 76% don’t feel equipped with the digital skills needed for the workplace of the future.5 Just 17% consider themselves advanced in workplace digital skills.6
The increasing digitalization across industries will drive industry convergence, leading to the formation of clusters comprising adjacent industries. An example is the creation of smart cities, which incorporate multiple industries, such as built environment, engineering and transport.
To this end, the Singapore Ministry of Trade and Industry has identified and developed Industry Transformation Maps (ITMs) for 23 emerging industries. The corresponding Job Transformation Maps (JTMs) are aligned with the respective ITMs to identify key technologies as well as analyze the impact on job roles and pathways for employers to transform jobs.
JTMs are periodically updated to reflect emerging areas of work for the future economy. They are useful compasses for employers to identify opportunities to transform jobs and skills for the future of work. Governments can further enhance these plans to feature mapping of possible skills-based pathways within new industry clusters and possible lateral movements to other industry clusters. The addition of skill mapping will enable employers to harness available talents who bring in cross-industry experiences and perspectives to drive change and add value to the organization.