Alongside skills in demand, there are a number of competencies that are growing in uptake by tech candidates, with the top 5 fastest growing skillsets dominated by data-related areas of expertise. The numbers below represent the percentage growth over the past year in global tech professionals who possess each skill, as reported by LinkedIn:
As AI takes off, the need for professionals who understand the ins and outs of this technology is higher than ever. Data reveals that the demand for AI skills has increased five-fold since 2015. As companies continue to adopt this technology and cybercriminals increasingly leverage AI tools to develop more sophisticated attacks, demand is only set to increase for those with competencies in machine learning, data science, natural language processing (NLP), and beyond. In fact, it’s predicted that by 2025, 97 million new AI-related roles will be created, however, the supply of talent simply isn’t there yet – in the US and UK, 51% of organisations note that they currently don’t have enough appropriately skilled employees in-house to execute their AI strategy, while 20% of this group expects it will be a challenge to recruit the right talent. Additionally, in Australia alone, it’s estimated that the country will need over 160,000 new AI professionals by 2030 to meet industry needs.
There are currently over two million cyberattacks recorded per year, and by 2025, these attacks are estimated to have a global cost of $10.5 trillion – a significant increase from the $3 trillion reported in 2015. With cyberattacks on the up, companies are recognising that now, more than ever, securing their systems needs to be a top priority. However, talent shortages are making things difficult. It’s estimated that there is a shortfall of 3.4 million cybersecurity candidates globally. As companies increasingly prioritise securing their defences, the demand for cyber skillsets only grows.
Uncover more about the latest in cybersecurity in our Cybersecurity Hiring Market Snapshot here.
Data is everything, so it’s no surprise that this makes the list of top skillsets for 2024. As companies increasingly leverage the power of big data to extract valuable insights about their customers alongside intel about business performance, professionals capable of analysing this information are needed more than ever - especially since it’s projected that the number of jobs requiring data science skills will grow by almost 28% by 2026. According to LinkedIn Talent Insights, the top industries seeking out and employing this talent are Information Technology & Services, Healthcare, Higher Education, and Financial Services.
As companies continue to move their systems to the cloud - think the increased uptake of cloud-based systems in Higher Education to facilitate student management and digitised learning, or large Financial Services players migrating their systems to enhance the digital customer experience – the need for skilled cloud talent is on the up. A recent survey revealed that globally, 95% of companies are facing a cloud and tech skills gap. 43% of those surveyed also cited that their company has faced challenges in remaining up to date with security and compliance due to the cloud skills shortage. Resultantly, this talent will continue be sought after over the next 12 months.
As new technologies enter the market, tech professionals skilled in back-end, front-end, and full stack development continue to be needed. In the US alone, it’s anticipated that the employment of software professionals will increase by 25% between 2022 and 2032. As industries continue to digitise and increasingly leverage Artificial Intelligence, engage in cloud migration programs, and prioritise the security of their systems, the need for software developers with coding expertise and system know-how to execute the technical aspects of these projects is only growing.
Microsoft is constantly evolving its technology stack. With new developments across Dynamics 365, Modern Workplace, M365, and Azure, the demand for these skills are rapidly increasing as technology innovates. Continuous enhancements to Azure Security, will continue to dominate the industry in 2024 as global cybersecurity threats only increase. AI is also taking the Microsoft workspace by storm, and these new capabilities will take productivity to new heights, increasing the need for candidates with relevant skillsets to power new projects.
To uncover what’s happening in your market and what you can do to get ahead, click through to your region for our local market insights:
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