According to Julio Gil-Pulgar there is an interesting intersection between blockchain technology, artificial intelligence (AI) and the Internet of Things with self-driving vehicles. However, there is a shortage of skilled workers in these sectors and he claims that experience from the electric vehicle industry might help to take it all forward.
Julio cites a Korn Ferry Institute study that indicates a major world crisis is in the offing. It claims that by 2030 the demand for skilled workers will outstrip supply resulting in a global talent shortage of more than 85.2 million people. Worse still, the study forecasts that this shortage will slow down the technological revolution.
One example of how it is already affecting the development of fintechs and finance related industries is that there aren’t enough programmers expert in COBOL. The self-driving car sector is experiencing the same skill shortage, according to David Silver, self-driving car team leader at Udacity.
Forbes contributor Maria Peretz tells a similar story in relation to cryptocurrency and blockchain startups. She wrote: “Executives who are approached to work for these startups have usually heard of Bitcoin, the most well-known cryptocurrency, and they may vaguely know blockchain has something to do with securing digital currency. However, they often have a fleeting grasp of the nuances and possibilities of this dynamic industry. Their haziness and lack of knowledge can be a formidable challenge to startups that want to land key talent in a competitive hiring market.”
You may be shocked to read this next statistic. In August 2018 the USA registered 7.14 million job positions were unfilled. And in the crypto sphere, Glassdoor, says there has been a 300% increase in the number of jobs linked blockchain, Bitcoin, yet 1,775 of these positions remain unfilled.
What we are seeing is triple the number of professionals using blockchain in their business sectors in 2018 compared with 2017 –life sciences being a prominent one –yet the shortage of programmers and blockchain professionals continues to increase.
Peretz suggests that the electric vehicle industry is ahead of the crypto industry and that crypto companies could benefit from looking at the model the EV industry applied a decade ago, when the talent it needed was still not clear yet. She said, ““This strategy requires a delicate balance of simplicity and sermonizing, clarity and passion. Fortunately, there is a roadmap for how to do it well: Follow the electric car down the highway to success.”
Obviously schools and universities should be directing young people towards careers in blockchain programming, because if this report is correct, they are almost guaranteed a job and there should be multiple opportunities to take this technology forward.