Key findings from Skillsoft’s report on upskilling priorities
Businesses are increasingly directing their upskilling efforts toward cybersecurity, AI, and data training due to significant challenges in hiring for these critical areas. According to Skillsoft’s recent report, more than one-third of C-suite executives have identified cybersecurity and AI as primary focus areas for training investment.
30% of C-suite leaders have identified data skills as the key for upskilling investments, showing the growing importance of data analytics and management in driving business decisions and strategies.
Skillsoft’s report also details a notable increase in the difficulty of hiring AI talent. Last year, only 13% of executives reported challenges in this area. However, this year, that figure has risen dramatically to 32%.
Sharp increases indicate a widening gap between the demand for AI expertise and the availability of qualified professionals, making it more important than ever for companies to invest in developing these skills internally.
Efficiency and skill gaps in IT departments
Skillsoft’s report states that having a workforce lacking necessary qualifications directly impacts departmental efficiency and the ability to harness emerging technologies effectively. Departments without adequately skilled staff struggle to function optimally, often falling short of achieving full operational efficiency.
The interconnection of AI, data, and cybersecurity
The skills required in AI, data, and cybersecurity are closely interconnected, creating a unique challenge for IT leaders who must make sure their teams are proficient across these areas.
As businesses increasingly rely on data-driven decisions and AI-driven processes, the need for cybersecurity to protect sensitive information and systems becomes even more important.
Shortages of skilled professionals in these domains adds pressure on IT departments to bridge these gaps to avoid operational disruptions and security risks.
Strategies to address skill gaps
In order to address the skill gaps in AI, data, and cybersecurity, the report recommends several strategies. One approach is to identify the root causes behind recruitment and retention issues, such as inadequate training programs or non competitive compensation packages.
Another strategy involves investing in more effective and efficient training solutions, including new learning technologies and opportunities for continuous learning and certification.
The impact of skill gaps on existing staff
Skill gaps in AI, data, and cybersecurity place additional pressure on existing IT staff, leading to increased workloads and project delays. Added pressure can result in burnout and decreased job satisfaction, prompting many employees to seek employment opportunities elsewhere.
Retaining skilled employees is key for stability and continuity within IT departments.
Skillsoft’s report also shows retention challenges among women in tech, who plan to leave their jobs this year at rates comparable to those seen during the 2022 “great resignation.”
This trend suggests that many organizations are failing to create supportive environments for their female employees. In order to combat this issue, companies need to create inclusive workplaces that promote diversity and provide equal opportunities for all employees.
Using your existing workforce through upskilling
Investing in the development of the existing workforce is presented as a strategic move for businesses looking to fill skill gaps in AI, data, and cybersecurity. Employees who already understand the company’s operations, customers, and processes are invaluable assets.
Rather than seeking new hires, companies can benefit from upskilling these employees, equipping them with the necessary skills to take on new roles and responsibilities. Skillsoft’s report explains that allocating resources toward new certifications and continuous learning is an effective way to develop expertise in emerging technologies.
