This was the conclusion from Cognizant's Future of Learning report, based on a global survey of 601 top business executives at leading companies and 262 HEIs. The research aims to uncover insights into the changes these entities are making in their training and educational programmes, and the challenges they face in preparing tomorrow’s workforce.
Findings include:
Preparing the workforce for future jobs is a matter of survival for both businesses and HEIs
The majority of businesses (80%) and HEIs (72%) globally agree it is extremely important to prepare workers and students to work alongside emerging digital technologies. Businesses and HEIs in Singapore estimate that 60% and 55% of their total staff and students, respectively, will be prepared to handle new types of work driven by emerging digital technologies in the next five years. However, a 82% of Singaporean HEIs and 63% of businesses are presently unable to deliver.
Businesses are beginning to bear the burden of learning
Skills have become like mobile apps that need frequent upgrades. While 45% of businesses in Singapore currently update their learning content on an annual or biannual basis, 67% of HEIs only update their curriculum every two to six years. Globally, businesses are intent on speeding the pace of curriculum updates, with 75% planning to move to a one- to five-month or even continuous refresh schedule in the next five years. In contrast, only 30% of HEIs plan to increase update frequency, from today’s two- to six-year cycle to an annual one by 2023.
The work ahead means working together
Preparing the current and future workforce for the work ahead cannot take place in a vacuum. Three-quarters of both businesses and HEIs globally view collaboration as critical to successfully managing the transformative and disruptive impact of the new machine age. Singapore businesses appear less keen to collaborate with HEIs as opposed to educators – only 55% of businesses see collaboration as critical compared to 75% of HEIs.
Emerging technologies such as augmented reality/virtual reality (AR/VR) and artificial intelligence (AI) will supercharge learning by focusing on “how to learn” over “what to learn”
New modes of education delivery will emerge, with Netflix-style, on-demand digital assets allowing for anytime, anywhere self-learning. AI-driven learning platforms will personalise learning, and augmented/virtual reality (AR/VR) systems will become mainstream, with a 220% increase in the take-up of the technology by HEIs and businesses globally in in the next five years.
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| Source: Cognizant study. The top priorities for businesses (left) and HEIs (right) on preparing the workforce for the next five years. |
Based on the insights, Cognizant has developed an industry solution for businesses and higher education institutions, which they define as a Future of Learning equation. It requires the following elements of change:
- More accurate skills identification to align with actual workplace needs.
- Overhauling the approach of curriculum and training to be more immersive and personalised.
- An environment supportive of self-learning, with access to multiple content sources like open educational resources.
Ultimately, the speed at which these elements are executed will determine their efficacy in preparing an aptly-skilled workforce, Cognizant said, suggesting that businesses and HEIs will need to engage in more flexible partnerships, quicker responses, different modes of delivery and new combined-skill programmes to reliably prepare people for what comes next.
Details:
Read the Future of Learning report (PDF)
*The term 'institutes of higher learning' (IHL) is often used as well.
