With the rise of the digital economy and Industry 4.0, companies in every sector are gearing up to meet the demands of a quickly shifting technological playing field. The problem is, many industries are struggling to hire workers who have the skills needed to implement and operate these new technologies.
Our own research found that only a fifth of people consider their education from their college major to be translatable to their current field, and another recent survey edX conducted found that more than one-third (37%) of people have experienced a lack of proficiency in at least one new skill area or subject area in a current or past job. This skills gap is plaguing organizations across industries, but economists and scholars alike are struggling to come up with a solution.
