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Skills Needs Forecasting for the Digital Economy

Gain insights into the changing world of work and address skills obsolescence. Discover how data-driven skills demand assessment and personalized career guidance can drive workforce transformation and lifelong learning.

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Skills Needs Forecasting for the Digital Economy

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  1. Skills Needs Forecasting for the Digital Economy Mr Gary Gan CEO, JobKred

  2. The world of work is changing rapidly 10% Annual Skills Obsolescence > 33% Obsolescence Of Jobs > 60% Employers report lack of skills in hires https://www.weforum.org/agenda/2017/07/skill-reskill-prepare-for-future-of-work/ https://www.manpowergroup.com.sg/wps/wcm/connect/deda2996-1672-4eea-87bc-8d6ada9247c5/MG_Edited_TalentShortage2018_lo.pdf?MOD=AJPERES http://www.mas.gov.sg/News-and-Publications/Media-Releases/2019/IBF-MAS-study-identifies-skills-for-more-competitive-financial-sector-workforce.aspx

  3. Current Methods of Skills Demand Assessment • Direct Industry Consultation • Not standardized • Slow • Small sample • Subjective • Surveys and Focus Groups • Not Skills based • Slow • Expensive • Outdated quickly • National Skills Frameworks • Not Granular • Slow • Expensive • Outdated quickly

  4. Past – Slow & Unfocused COMPANIES SKILLS DEMAND SKILLS SUPPLY SKILLS TRAINING 4years of data collection 4years of formal training 4years of curriculum development EDUCATION & TRAINING WORKFORCE

  5. New Technologies Big Data Analytics to decode employer demand and predict future skill requirements Intelligent skill-gap analysis and personalised digital career guidance Automatic mapping of curriculum to granular skills and modular education for youth and adults

  6. Today – Fast, Agile & Targeted COMPANIES SKILLS DEMAND SKILLS SUPPLY SKILLS TRAINING • Skills Profiling • Personalized Re-training • Job Matching • Big Data Collection • Industry Transformation • Skills-based Education • Modular courses EDUCATION & TRAINING WORKFORCE

  7. Workforce Transformation GLOBAL GOVERNMENT EMPLOYERS UNIVERSITIES Singapore’s National Jobs Portal Personalised career and training recommendations >200,000 Weekly Users Global IT Company Developing talent transformation frameworks & providing personalised learning to employees >3,000 Skills Tracked 20x Courses Taken Student Career and Skills Guidance Scalable personalised career guidance and skills gap analysis >33,000 Skills Reported 12,000 Careers Favourited Labour Market Information Research Online labour market data & skills demand analysis Malawi & Myanmar

  8. Skills Profiling Report Individual (SPRI) Skills Portfolio Career Portfolio Learning Portfolio Identify and showcase portfolio of skills obtained from work experience and education. Gain career recommendations matched to their skills and learn more about the details of each career pathway. Understand skill gaps and prioritise learning goals to work towards aspirations.

  9. Skills Profiling

  10. Digital Career Guidance

  11. Data Insights

  12. Sample Analysis

  13. Sample Analysis

  14. New Developments

  15. Lifelong Learning ADAPTIVE CURRICULUM & LIFELONG LEARNING COURSE MAPPING Job Function Industry AI Course Data Personal Skills Job History Industry User AI Profiling AI Global Data Skills AI AI AI AI Local Data Module Matching MOOC Courses Careers & Job Openings Mapped Module

  16. Thank You Mr Gary Gan CEO, JobKred gary@jobkred.com www.jobkred.com

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