What is Next in the Tech Industry?
The tech industry is renowned for developing at a fast pace, leading to changes in job demands, roles, and general growth within the sector. Here at Computer Futures, we asked our team of specialist recruitment consultants to share their predictions for the future of tech in a recent internal survey. After analyzing the results, it became clear there were five key areas:
The Tech Industry Will Grow
According to Time, there are seven areas of growth including: security, healthcare, IoT, wireless innovation, smarter cities/cars, data, and virtual reality. The industry isn’t just growing, it’s evolving and steadily becoming more customer-centric. The Harvard Business Review (HBR) believes that organizations have become more customer-centric as technology-enabled transparency and online social media accelerate an inevitable flow of market power downstream from suppliers to customers. Now more than ever, it’s essential for IT departments to consider each individual user of their software or service and their user satisfaction if they want to demonstrate their value.
In order to better understand customers and the journeys they take, more companies are taking advantage of the data they have as they grow – and this will continue moving forward. By having a more in-depth knowledge of what it is their customers are looking for, companies are able to meet requirements and grow.
Job Roles and Demands in Tech Will Continue to Change
When asked whether they’d noticed any changes in requirements for job roles, 100% of our recruiters confirmed they had – with almost a third noting the change had been quite dramatic.
Mohammed Khaleed, a Senior Recruitment Consultant at Computer Futures, believes this will continue moving forward. He provided an example, saying, “Some of the roles will become automated (mainly engineering). Artificial intelligence (AI) will design algorithms and the scientists will become more like consultants who understand what the machines are doing. They’ll almost become a translator between businesses and their machines.”
As roles change and evolve over time, it’s going to have an effect on demand. There will be a large need for engineers with experience of Robotics, Artificial Intelligence, and Augmented Reality. They’ll also need to have a broad range of skills, including Electronics and Embedded Software Experience, Data Analytics, and UI/Web. Alex Tattum, Senior Principal Recruitment Consultant at Computer Futures, says this will be because they’ll need to/be expected to take on whole projects.
The job role for developers is also likely to change as there will be a high demand for those who have an understanding of AI.
Companies Will Continue to Invest in Their IT Teams
The United States continue to invest heavily in IT as a quarter of the $3.8 trillion global IT market is based in the US, according to SelectUSA. The industry accounts for 7.1% of US GDP and 11.6% of US private sector employment. There are over 100,000 software and IT services companies in the United States, and more than 99% are small and medium-sized firms. This high level of investment is set to continue and will play a part in the number of jobs too. Currently the number of jobs opening up in the tech sector is larger than that of the non-tech, and we expect this to continue.
Companies will also look to create a more inclusive workforce too. The need to improve diversity within the technology industry has become well-known in recent years. According to the World Economic Forum’s Industry Gender Gap Report the shortage of IT professionals is due, in part, to the gender imbalance. The World Economic Forum reports more women graduate from universities worldwide than men, however, women remain a minority in the STEM fields, as women only hold 26% of all tech jobs. In the United States, women earn only about 35% of the undergraduate degrees in STEM, a number that has remained unchanged for the past decade. Even when women complete a STEM degree they are less likely to work in that field. According to the latest US census, only 1 in 7 women with a degree in STEM actually works in that area.
It is believed a diverse workforce will unlock growth, and improve innovation and creativity. Not only that, it will help create an industry that everyone can be proud of. As such, we’re seeing more companies focused on creating an inclusive working environment and expect that this will become the focus for more businesses in the future.
Cybersecurity Will Be a Key Focus for Many
Paul Toal, a Client Relationship Manager at Computer Futures, says, “More and more companies are becoming aware of the importance of security. It’s easily the biggest problem every company is going to have to deal with.” With cyberattacks happening more often, and damages becoming more costly, the risks are growing for companies of all sizes. And it’s this awareness that’s led them to grow and develop their security team. However, this increased desire is being met with a lack of professionals.
The ISACA, a non-profit information security advocacy group, predicts there will be a global shortage of two million cyber security professionals by 2019. Every year in the US, employers struggle to fill approximately 40,000 jobs for Information Security Analysts and approximately 200,000 other cyber-security related roles, according to cyber security data tool CyberSeek. According to Forbes, for every ten cyber security job advertisements that appear on a career websites, only seven people even click through to view one.
HBR has looked at reasons for this shortage of skills. These include the strong desire to hire people with the more experience and the lack of inclusivity and diversity.
Considering how rapidly the cybercriminal world is growing, and how organized it is, it makes sense to create an inclusive workforce. HBR also suggest artificial intelligence may become more commonplace in the future, in order to make the job of a security team even easier. It could collate the necessary data and present it in a way that’s easy to interpret.
Expect Technology to Continue Evolving
As mentioned at the beginning of this article, the IT industry is known for developing at a fast pace – including the technology used. One of the drawbacks to this is that an increasing number of companies are starting to feel like they’re being left behind.
Ryan Hill, Sales Team Manager for Computer Futures, says, “One of the current issues a number of my clients have raised is keeping up to speed with technology. It’s evolving so quickly that they don’t always know how to utilize it within their business.”
And according to an article written for Forbes by Nick Morrison, a freelance journalist, it appears the advancements could also have an impact on new leaders moving forward. As he says, “Changes in technology represent the main challenge facing tomorrow’s business leaders.”
Smartphones are a prime example of how quickly technology changes. If you compare the first one, created in 1994, to one of the latest releases today, the differences would be remarkable. As technology gets better, the demand for a new and improved version grows. In order to keep up, you need to work with experienced and knowledgeable IT professionals.
Opportunities within the Tech Industry
Here at Computer Futures, we work with companies of all sizes across the world. Having operated in the tech recruitment sector for over 30 years, we have an in-depth understanding of the issues and challenges being faced by clients and candidates. That’s why we partner with you, to discover your individual needs. And, once we know exactly what you’re looking for, we’ll develop a complete recruitment solution that works for you.