To re-skill or up-skill is no longer the question. Companies are automating more and more jobs that could replace up to 33 percent of the U.S. workforce by 2030, according to a report by McKinsey & Co.
According to Dr. John Seely Brown of Omega Venture Partners, “The half-life of a learned skill is five years” — this means that much of what you learned 10 years ago is obsolete and half of what you learned five years ago is irrelevant.
Rutgers Business School is hosting a business community engagement symposium Nov. 7 on how organizations and workers can get ahead of the curve. Lifelong Learning in the Digital Era is bringing together experts from Google, McKinsey, LinkedIn, edX, Rutgers and more to offer solutions to companies and individuals on how they can refresh their knowledge and skills and not become irrelevant in the new digital economy.
The pace of change in technology requires both management and the workforce to keep their skills current. Otherwise, they will lose out to competitors that have increased their efficiency and stimulated product innovation. Recent college graduates as well as seasoned executives must refresh their skills regularly or risk becoming irrelevant and disposable.