Needed skills projection for Industries 2
This article continue from my Global Value Chain, Trade and Needed skills projection for Industries article link is below;
This article covering continue to explain needed skills projection for industries.
My next article related with explain gvc types and supply chain 4.0.
Let’s get started with covering Finance, Manufacturing.
From AI and blockchain to peer-to-peer lending, finance leaders are reimagining how we manage and invest our money. Today, many banks have fully embraced digitization. 1*
Banks are exploring machine learning (ML) and artificial intelligence (AI) to create a seamless customer journey across various bank-customer interactions.
Know Your Customer (KYC) identity validation is a growing blockchain-enabled trend being explored industry-wide by major banks. 2*
Near-zero interest rates and growing demands on consumers make managing revenue while meeting consumer expectations more difficult.3*
Trending skills in Finance industry
Top Trends in retail banking 2020
The marketing of banking services could once rely on local branches, migration to online banking has changed consumer behavior and the way they interact with the brand — this calls for a different strategy.
Marketing skills are expected to go beyond traditional brand building to data- powered decision-making, predictive analytics, digital marketing, and A/B testing.
Personally I think for finance industry, if the industry would like to staying for competitive, they have to creating agile digital adaptation mindset.
The Fourth Industrial Revolution has unlocked countless opportunities for the manufacturing industry to maximize efficiency.
From more timely production and delivery to managing inventory through predictive models, the industry has adopted leading technologies in stride.
While manufacturing has historically excelled in business and technology skills, COVID-19 has had a crippling effect on the industry.
Many manufacturing jobs are on-site and cannot be carried out remotely, and slowed economic activity has reduced demand for many products around the globe.
Since World War II, the US economy has been through 11 recession periods, i.e., a recession every 6.1 years, each lasting about 12 months (figure 2).4 *
During the last two decades, the economy has already been through two recorded downturns, each of which impacted industrial production activity.
According to the Deloitte Insights navigating to disruption article ;
Recessions are unpredictable,both in terms of when they begin and their impact. To protect themselves, manufacturers should start preparing now rather than later.
Globalization of the manufacturing ecosystem has transformed industrial supply chains into complex global networks.
For example, in 2019 alone, US industrial manufacturing output was US$ 2,586 billion and the United States imported US$ 1,045 billion of industrial products and components.5*
The convergence of inexpensive data storage with increased computing power and Fourth Industrial Revolution technologies is transforming manufacturing at an increasing rate.6*
Talent aspects for manufacturers to consider
If we also consider manufacturing industry legend we see ;
As a conclusion manufacturing industry has a well-known knowledge on business and technology domains.
Within the technology domain, the only lagging competencies are human-computer interaction and software engineering.
1* Financial services technology 2020 and beyond: Embracing disruption. PwC. January 5, 2017.
2* Top trends in retail banking 2020 , Capgemini
3*:How retail banks can keep the lights on during the COVID-19 crisis — and recalibrate for the future.PwC. 2020.
4*Daniel Bachman, What to expect when you’re expecting a recession, Deloitte Insights, November 21, 2019.
5* US Census Bureau, “Imports of goods by principal end-use category,” accessed March 3, 2020.
6* Michelle Drew Rodriguez et al., Exponential technologies in manufacturing, Deloitte, 2018.
Top Trends in Retail Banking 2020
With BigTechs and Fintechs influencing the financial services space, retail banks are investing in digital technology…
For manufacturing leaders, the 21st century has brought with it an operating landscape that mixes longstanding patterns…