by Jonny Bohane, Senior Manager at Robert Walters Market Intelligence
The tech industry has experienced rapid transformation over the last few years and the demand and supply of technology talent has significantly varied. While there’s been an increase in skill adoption across the globe, there are still noticeable gaps in AI, blockchain, cybersecurity, and more, resulting in a global talent shortage for these skills.
According to a recent IBM study, a single cyberattack can cost a company $6 million in damages, but there aren’t enough cybersecurity experts to meet the increased demand. In addition, the lack on in-house AI expertise is impacting organisations’ ability to implement generative AI.
Backed by detailed market analysis, our Market Intelligence experts have compiled a report that reflects the global tech skills gap index as well as insights into those gaps and frameworks to address the lack of skills.
What are tech skills?
Tech skills refer to technical skills required to accomplish specific, complex tasks. This includes proficiency in areas like software applications, programming, data analysis, and cybersecurity. With these skills, individuals often support technological developments across a varierty of organisations. Individuals with these skills often have specialised knowledge within a specific area.
What are the five key tech skills currently in demand?
AI, Cybersecurity, Cloud, Blockchain, and Data Science are the top five tech skills currently in demand across the globe. These tech skills have significant gaps, indicating that there’s a lack of theoretical and practical knowledge in these areas.
- AI: The demand for AI talent is outpacing the supply globally. Advanced economies experience more moderate shortages while developing markets experience critical gaps.
- Cybersecurity: The demand for cybersecurity talent is higher than the supply globally. With this skill, advanced economies struggle with shortages in threat intelligence, identity management, and more.
- Cloud: The cloud talent shortage is experienced by emerging and developed markets as supply is not keeping pace with the advancements in cloud technology. The U.S. Bureau of Labor Statistics projects a 15% growth in cloud-computing related employment between 2021 and 2031.
- Blockchain: Blockchain technologies has become crucial for sectors such as banking, finance, logisitics, and others. However, skills required for expansion and advancement are not easily available.
- Data Science: The global demand for data science skills has skyrocketed. Both mature and emerging markets are experiencing the impact of this talent shortage.
What are the benefits of understanding the global tech skills gap?
Insight into the global tech skills gap offers notable benefits for organisations and individuals.
These insights give organisations the ability to plan for in-demand tech talent they may require and gain knowledge about where their market measures in terms of talent scarcity. By identifying areas where skills are lacking, organisations can invest in their existing talent but also talent attraction efforts to ensure they have access to the latest tech professionals as needs arise.
Individuals can benefit by understanding by understanding high-demand skills to make more informed career decisions or upskill in their existing roles. This can enhance employability and earning potential in an evolving market.
What are the hiring challenges regarding tech skills?
Hiring for tech skills comes with several challenges that organisations need to overcome. One of the key issues is the general tech talent shortage as professionals are scarce. This means organisations are all searching for talent among a small pool of skilled professionals. Competition for skills drives up salaries and overall recruitment costs, which may make it more challenging for organisations with smaller budgets to match those or larger corporations.
Additionally, tech skills evolve rapidly meaning organisations need to keep track of changes and hire talent who’s not only adaptable, but willing to commit to long-term continuous upskilling.
Assessing technical proficiency is another hurdle, as traditional interviews may not accurately measure practical skills or essential soft skills like adaptability and problem-solving. Finally, retention is a significant concern, as tech professionals frequently change jobs for better opportunities, forcing companies to invest heavily in career development and workplace culture to maintain engagement.
What role do resklling and development programmes play in closing the skills gap?
Education and reskilling programmes play a critical role in closing the technology skills gap by equipping individuals with the knowledge and capabilities needed for emerging technologies. Traditional education often struggles to keep pace with rapid innovation, so specialised programmes and bootcamps provide targeted, up-to-date training in areas like data analytics, cybersecurity, and cloud computing.
Reskilling initiatives allow existing professionals to adapt to new roles, reducing reliance on external hiring and fostering internal mobility. However, for data science skills the competition for talent is fierce even though robust education and training already exists.
Ultimately, continuous education and reskilling empower both individuals and organisations to remain competitive in a digital-first economy, driving innovation and long-term growth. What’s crucial is that these programmes deliver skilled professionals into the labour market who can provide their expertise to organisations locally and across the globe.
Key takeaways
The global technology skills gap is an issue that impacts innovation, competitiveness, and growth. As technology continues to evolve at an unprecedented pace, organisations that fail to address this gap risk falling behind. Understanding the scope of the problem is the first step toward building a future-ready workforce. By investing in education, reskilling, and inclusive talent strategies, businesses can create new opportunities and strengthen their digital capabilities.
For individuals, recognising which skills are in demand opens doors to career advancement and long-term security in a tech-driven economy. Closing the gap requires collaboration between employers, educators, and policymakers to ensure access to relevant training and resources.
