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The Industry Future Series: Exploring the Next Era of Professional Programming

Equip the workforce with the skills they need to thrive amid disruption

EAB’s Industry Futures is a series of studies conducted across the last decade that investigates the future of particular industries ripe for disruption and change. The goal of these studies is to unpack the changing talent needs and help institutions equip their students with the skills necessary to thrive in the industry of their choice, not only now but in the future as well.

Three variables are considered to identify the best industries for the study:

  • Industries tackling a disruptive force like technological advancement, policy overhauls, or shifting demographics
  • Those with changing employer needs identified in a quantifiable and trending manner using Emsi Burning Glass job postings and skills data
  • Shifting student demand for institutional programs as evidenced by growing enrollments in programs or specialized trainings and heightened demand for alternatives like micro-credentials or badging

While these considerations are not mutually exclusive, they serve as guideposts to identify the industries most likely to experience major shifts in the next five to 10 years.

Industry Futures 2021: The technological advancements of the digital revolution

In 2021, the most impactful trend changing how jobs are performed is one categorized by advances in technologies like automation, artificial intelligence, and robotics, known as the Digital Revolution. These new technologies build upon advances in embedded intelligence and big data and will spur the rise of humans working alongside smart machines.

As this transformation takes place and companies begin to integrate new technologies into their business models, employers’ needs shift. Employers increasingly strive to hire those with knowledge of automation, artificial intelligence, and big data as well as those who possess uniquely human skills like critical thinking and project management to adapt to and succeed in changing work environments. From August 2018 to July 2021, Emsi Burning Glass data shows employer demand for professionals with these emerging technological skills grew four times faster on average than employer demand for all professionals.

Currently, however, most institutions struggle to understand the most impactful ways to adjust and change academic programming to keep pace with these technological advancements.

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    Demand for professionals with digital revolution skills grew 68% over the past three years, on average.

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    Demand for all professionals grew 17% over the past three years, on average.

How can programs keep up with technological change?

In the video below, EAB expert Brynna Morgan shares how colleges and universities can adapt amid the digital revolution and why they should focus on providing students with cross-disciplinary skills.

The industries: Smart Manufacturing and FinTech

For the 2021 Industry Futures Series, EAB chose to explore Smart Manufacturing and FinTech. These two industries are poised to experience major disruption and change given advances in technology like automation, artificial intelligence, and robotics.

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    Smart Manufacturing

    Smart manufacturing is one of the most disrupted industries given the current and potential impacts of Digital Revolution technologies and the subsequent changes in employer needs. Factory network integration, a burgeoning reliance on robotics and AI, and increased automation will change the business models, production, efficiency, and skills required in the industry. Increasingly, manufacturing workers will be required to possess a blend of production, technology, and engineering skills as well as human skills like risk mitigation and change management.

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    FinTech

    FinTech is a fast-growing industry given the emergence of tech-based financial tools, services, and platforms, and their increased reliance on AI-powered capabilities to mine and analyze large data. This changes both the skills needed to enter the financial sector as well as the hiring make up of most of the big players, who now employ more engineers and software developers than traditional financial analysts.

New report: Technological Advancements in Smart Manufacturing

Download our report to learn about the needs and opportunities in the manufacturing industry, how higher education is adapting offerings to meet manufacturing’s tech needs, and regional manufacturing employer demand trends.

Download the Report

Access the presentations from our roundtable event on Industry Futures 2021

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