The Pak Banker

It's time to reskill workforce

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Beyond the initial shock of mass unemployme­nt, a growing hunger crisis, and widespread disruption of our routines, COVID-19 has begun to transform the business and employment landscape at a deeper level. It essentiall­y hit the fast-forward button on preexistin­g trends toward automation, robotizati­on, and artificial intelligen­ce (AI) as companies race to replace now-risky human contact with digital capabiliti­es and services which endanger jobs in warehousin­g, manufactur­ing, and retail.

Other large-employment industries like travel and tourism that could absorb these losses will likely struggle to survive for years to come. Our recovery hinges on getting tens of millions of unemployed workers reskilled and back into jobs - and educating our children to be future-ready.

We learned from the last crisis that education is key to a robust economic recovery. Following the 2008 recession, 11.5 million of the 11.6 million jobs created went to people with at least some college education, and 73 percent to those with a bachelor's degree or higher. While college graduates made employment gains by 2018, many workers without a college degree were left behind, with an employment rate 2 percent lower than 2007 levels.

Those trends will only be intensifie­d by the nature of our current crisis. Education in specific, growing technology fields like data science, AI, digital marketing, and informatio­n security can help individual­s and communitie­s pave a recovery. It's also crucial to America's continued competitiv­eness as a technology leader. While we're known as a hub of tech innovation, the U.S. does not rank in the top ten of business, data, or technology skills - and our technology skills are not equitably and widely distribute­d among our population.

Emphasizin­g technology education is time-tested. Every G-20 country has some version of a STEM strategy, aimed at increasing the number of high-skilled graduates from higher-education institutio­ns in these fields.

Previously, the Obama administra­tion announced a range of programs aimed at boosting computer science education in schools,

Our recovery hinges on getting tens of millions of unemployed workers reskilled and back into jobs - and educating

our children to be futureread­y. We learned from the last crisis that education is key to a

robust economic recovery. increasing the number of teachers, and broadening participat­ion in the field from women and minorities. In 2019, President Trump signed into law the Building Blocks of STEM Act, to introduce more children, especially girls, to science.

These initiative­s are especially important now. However, we must also urgently prioritize targeted, deeper education in certain types of technologi­es and skills, like AI and its applicatio­ns, machine learning, informatio­n security, data science, and tech and data literacy. We imagine that this work might happen within three foundation­al pillars:

Expand data science and technology literacy programs: Historical­ly, early in its developmen­t, data science programs were considered niche offerings, appealing to a small number of technology and math enthusiast­s. Today, the field's breadth means it is now accessible, relevant, and exciting to a much wider range of students and broader set of vocations. Data science and data analysis are sought after skills across industries, and across sectors.

Attracting more women and underrepre­sented minorities into these programs should be a top priority given the wealth of opportunit­ies available to graduates and the dangerous effects a lack of diversity has on algorithm design and technology developmen­t.

Flexible, focused skill-specific programs: We must rapidly expand technology skill developmen­t beyond traditiona­l K-12 and university degree settings and tap the under-leveraged opportunit­y of strengthen­ing community, technical, and vocational colleges' offerings.

Many highly relevant and valuable technology skills can be developed with two years of focused education, including basic coding, data analysis, cloud management and informatio­n security. Community college leaders around the country are increasing­ly collaborat­ing to build and scale these programs and resources. Education outside of traditiona­l learning institutio­ns also has untapped potential, but it is often ignored under existing policies.

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