Commonwealth Bank Jobs and Skills of the Future Report reveals skills gap
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Commonwealth Bank Jobs and Skills of the Future Report reveals skills gap

One in two Australians believe children are not equipped with the skills needed to handle the changes facing the nation’s rapidly evolving educational landscape and job market, according to a new report from Commonwealth Bank.

The Commonwealth Bank Jobs and Skills of the Future Report, released on 13 November, details how advances in data analytics and artificial intelligence are driving new education methods, skills and capabilities.

In the future workforce, Australians will need skills which include design thinking, analysis, financial acumen and relationship building, the report states.

Report author Ross Dawson said the nation will continue to experience social shifts, generating a multitude of opportunities for those who are keen to create value from these new connections.

“With connectivity enabling digital disruption, almost any task can be performed anywhere in the world. In order to keep ahead and find new opportunities in this time of change, it’s important that we develop the uniquely human capabilities – adaptability, creativity and relationship skills – that set us apart from machines.”

Kylie Macfarlane, General Manager Corporate Responsibility, Commonwealth Bank, noted there are jobs at Commonwealth Bank today that didn’t exist five years ago.

“For children, school leavers and their parents, trying to navigate the changing landscape can be daunting but it also presents an opportunity for Australians to learn different skills and enter new career pathways,” he said.

“The changing job market means education has to and is changing to keep up, and that’s why we are investing heavily in partnerships and programs with education providers to make sure our young people are prepared for the future, both in a financial and skill sense.”

Mr Dawson added student need to develop Australians’ skills in the disciplines of the future, notably Science, Technology, Engineering and Mathematics.

“Each of these shifts place education at the heart of Australia’s future. Schools and universities need to prepare our children and young adults for the jobs of tomorrow, not those of today.”

Highlights from the Commonwealth Bank Jobs and Skills of the Future Report

  • Evolving education – how the classroom is set to change
  • Subject areas of robotics and coding are just two examples of how the education landscape is already changing to meet the demands of the future. Other changes we can expect to see are more flexible classrooms and new learning spaces as educators become more nimble; adopting a range of new methods to teach in classrooms including, writable desks, robots and AI.
  • Adapting human skills and capabilities – how demand will continue to change
  • As technology becomes an increasing part of everyday life, people will need to focus on the human capabilities that set us apart from machines – such as creativity, imagination, emotional intelligence and design thinking.
  • Jobs of the future – how the workplace will change
  • Over the next decade, technology will advance and people will learn to enhance their ability to interact with it. Emergent technology jobs will include new categories such as emotional experience experts – highly empathetic people and advanced technologies will work closely together to design and deliver services and experiences that are not just effective, but emotionally engaging.
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