We’re no stranger to the fact that the demand for IT talent is severely outpacing supply. Tech unemployment continues to hover at an all-time low, making for an extremely competitive environment. In order to stay ahead, organizations need to understand the complexities behind these trends. In particular, we believe it’s important to comprehend how consumer tech trends are impacting IT employment demand.
The World Economic Forum recently made a powerful observation that should really open business leader’s eyes, no matter what industry they’re in: “We are today on the cusp of a Fourth Industrial Revolution. Developments in previously disjointed fields such as artificial intelligence and machine learning, robotics, nanotechnology, 3D printing and genetics and biotechnology are all building on and amplifying one another… The talent to manage, shape and lead the changes underway will be in short supply unless we take action today to develop it.”
A “Fourth Industrial Revolution” is an impactful descriptor, but not an exaggerated one. It’s clear that the rapid pace of technological innovation is transforming the way we live, work, and consume. And as consumers – both individual and enterprise – we require a paradigm shift in the way organizations lead their businesses. Failure to adapt will deem the consequent stress detrimental.
Data and the Customer Experience
Big data has been building buzz in the business world for several years now, but the momentum is only growing further. As devices and hardware become “smarter” than ever, the amount of available data is exponentially snowballing. It lets brands tap into consumer consciousness in an effort to reach greater heights of functionality, usability and overall efficiency. It completely transforms how businesses approach the customer experience, considering the level of personalization and customization that is possible in light of this data.
This is clearly a massive benefit for enterprise technology, too. But it opens up a world of challenges; namely that for many years, most companies have been collecting data without much strategy behind managing, analyzing or using it in any way. This means that business intelligence and data analytics are major areas in which demand for tech talent is thriving. The potential here is huge, opening up the door to make faster and better informed business decisions.
Internet of Things
We have quickly evolved into a world we can accurately describe as hyperconnected. Artificial Intelligence, machine learning, and augmented or virtual reality are pushing the boundaries of how we connect and interact with each other – and with devices and technology. What was once a dream of science fiction has worked its way into reality, accelerating consumer technology trends and rippling into enterprise IT.
What the Internet of Things means for business is primarily that IT becomes more than simply a tool for functionality, one which has traditionally been measured purely on performance. Instead, IT solutions are transformed into an actual driver of tangible business outcomes, particularly a company’s bottom line. Intelligent devices and real time technology solutions become major tools in streamlining operations, automating processes and autonomous systems, and improving customer service and user experience.
Consumers are getting more and more comfortable turning over sensitive digital information and data to companies they trust. But businesses need to be responsible with that level of trust, especially as cyberattacks are becoming more prevalent.
As we’ve discussed in the past, digital innovation is outpacing the evolution of security measures. Cyber risk is inevitable as hackers become increasingly tech savvy. This means that vulnerability testing and highly effective cyber security is non-negotiable.
Integration and Scalability
With the sheer amount of technological innovation, it seems more and more likely that reliance upon one-size-fits-all IT vendors is a thing of the past. Instead, integrating a spectrum of highly specialized and segmented digital services is the way forward.
Of course, the clear challenge with this strategy is scalability, not to mention efficiency. Consequently, many companies are moving to managed services providers who can expertly integrate, migrate, and manage this ecosystem of services. It means that IT professionals need strong communication skills as well as an acute level of business savvy, and must be comfortable with some level of vendor management.
What This All Means for IT Employment Demand
Primarily, this hyperconnectivity wrapped up in constant digital innovation means IT executives become true business partners. Companies need to be hiring IT professionals who have vision and a passion for collaboration. This is particularly the case in regards to data analysts and architects, integration specialists, and risk and cyber analysts.
The Bureau of Labor Statistics reports that IT occupations will grow by 12% by 2024, significantly ahead of the average growth rate, and with a median annual salary just shy of $80,000. Predictably, this creates fertile ground for highly competitive IT hiring, with companies becoming increasingly focused on improved retention strategies.
Ultimately, consumer and enterprise technology trends have steadily become more intertwined than ever before. End-user requirements have become a key driver in moving business forward. This requires many companies to reevaluate their business operations to be more agile and leverage the advantages that digital solutions afford.
At CyberSearch, we work diligently to keep our finger on the pulse of the latest tech trends. Our deep networks and technical expertise position us to truly leverage your business to exceed your IT hiring initiatives and achieve future success. Tell us more about how we can help you today.