Markets Trends And Tech Skills

People Learning tech skills

The growth of the global technological market has created the need for new tech skills in our jobs. As a result, areas of the technological market like Automation and AI are continuously growing in size and require new types of skills, meanwhile, other demand for the rest of the jobs is shrinking.

The cloud computing market in Europe is estimated to reach 560 billion euros by 2030. AI is expected to grow to $407 billion by the end of 2027 and cyber security is projected to reach $424.97 billion by 2030. The tech jobs market is responding to our needs for digitalization, continuous development, and support of existing technologies.

According to a McKinsey paper on the future of work in Europe, many of the jobs that employers might need to fill by 2030 require a higher level of skill and fast-growing occupations like software and application developers may need specialized skills.

Cloud computing tech skills

Our need for remote access, monitoring data flow, and data storage made cloud computing a highly demanded technical capability in the global job market. Due to remote and hybrid work requirements, cloud technology impacted us both as employees and as daily consumers. Cloud technology is about infrastructure, servers, storage, networking, databases, operating systems, and software applications.

Jobs like cloud developer, database developer, and network engineer require skills related to designing, monitoring, and automating processes and workflows of cloud infrastructure. So, to work in cloud computing, apart from usual programming skills, you will need specific cloud skills like migrating data, systems architecture, and design, monitoring system performance, networking, scaling, security, etc. Cloud providers offer free courses on their platforms that can help get you certified or specialized in this field.

Cyber security Tech skills

Different technologies are evolving and changing, but so is the need for skilled people to provide network and software systems safety. Along with cloud technologies, remote work, and new AI models, cyber security skills gap has increased.

Cyber security is a broad domain and deals with network security, data encryptions, cyber-attacks, system infrastructure, IT standards risk, and compliance. Some of the highly demanded roles related to cyber security are cyber security engineer, network security engineer, or chief information security officer (CISO). Skills and experience for these roles are in cloud security, network security, operating systems, encryption techniques, identity access management, scripting programming languages, and IT standards like ISO 27000 series or NIST SP.

For obtaining cyber security jobs or career development, formal certifications might be an advantage. Consequently, some cyber security certifications are required by institutions or governmental agencies as mandatory recruitment selection criteria, but there are also free courses available.

Artificial Intelligence (AI) skills

The challenges and complexities of creating AI software make tech AI-related skills valuable for companies. Some of the highly demanded AI jobs are data scientists, machine learning engineers, and robotics engineers. Among the skills and knowledge critical in developing AI models and applications are programming languages, machine learning techniques, natural language processing (NLP), big data, algorithms, and AI frameworks. For roles like machine learning engineer, there is a free certification and also, free courses on AI tools. But, until the general adoption of AI, we can explore it with free AI tools.

So, one technology change led to another and set off a chain reaction affecting our lives and jobs. Technology and socio-economic trends will always be a challenge for each of us. Hopefully, these waves of changes will become growth opportunities and we’ll succeed in transforming them into new capabilities.

EU AI Act and AI system risks

Studies show us that more companies are heading toward the adoption of AI. AI models have raised a lot of ethical problems and face challenges in integrating the existing processes. Ultimately, the AI industry will evolve, and we’ll have to adapt, learn and integrate it into our daily working routine. European authorities adopted regulations on the developing AI industry through the EU AI Act to be better safe than sorry.

To avoid possible risks AI can generate and for us to still be able to use it to solve social and tech problems EU published the Artificial Intelligence Act this year. However, the regulations will come into force in two years and are meant to keep us safe and compliant with fundamental human rights.

The new rules affect HR processes like selection and recruitment, employee performance assessments and the contractual relationships between employees and employers. HR needs to implement frameworks to address the AI systems classified as high-risk. Furthermore, AI challenges will impact all employment relationships involving discrimination bias, data protection or privacy rights.

Overall, the EU AI Act limited the use of biometric identification systems by law enforcement, banned social scoring and AI systems’ possible usage to manipulate or exploit users’ vulnerabilities and promoted the right of consumers to initiate complaints and receive explanations.

Great Expectations from Technological Innovations

Generally, the main trend is the integration of IoT networks, AI, and Big Data into manufacturing and industrial processes. Technology is enabling changes in education, financial system, and global supply chains and automates most of the industries. New forms of social entertainment are emerging in the metaverse, virtual reality (VR) and augmented reality (AR).

We witness constantly that our wearable tech is periodically upgraded with the scope of improving and transforming user experiences. Technology is already changing the way we communicate and in the future, it will impact more and more our lifestyle and transform our social behaviours. With these waves of innovation, it will be difficult to keep a balance between technological innovation and not putting jobs at risk.

Furthermore, technology’s domination is spreading across every aspect of our lives. From climate change to ageing with grace and dignity, technological innovations have the power to transform our daily experiences. We expect tech solutions for problems like renewable energy, medical breakthroughs for incurable diseases, transportation through space, and environmental issues.

High-tech innovations and AGI can prove to be a magic key for navigating humanity’s challenges, or on the contrary, they might prove to be our doom depending on how we use them. It will depend on how we put into practice our values, morality and ideals. it will be most likely an ethical choice with long-term effects for our future as a society.