3 Essential Tactics to Overcome the Digital Skills Shortfall

Within the global digital economies, there is a significant disparity between the demand for digital competencies and the supply of proficient workers. This situation has led to a pronounced and expanding gap in skills, demonstrating a misalignment between the workforce available and the qualifications needed by employers.

The rapid integration of artificial intelligence (AI) into various sectors is further widening this skills gap. Many individuals find it challenging to keep abreast of the evolving AI capabilities. A survey conducted among our followers revealed that 54% of marketing professionals perceive the level of AI expertise within their teams to be insufficient. Moreover, 40% confessed to not having initiated any AI-related projects within their operations.

Interpreting these findings

The deficiency in AI proficiency not only restricts entry into certain fields but also exacerbates inequality in economic opportunities and the dynamics of the labor market. With AI leading the automation of numerous roles, various positions are becoming redundant, leaving those affected at risk of being unable to secure new roles without the relevant AI and digital capabilities. Meanwhile, the slow pace at which traditional academic institutions are incorporating AI education into their curricula only adds to the challenge, delaying the readiness of graduates to meet the digital demands of the job market. Employers are increasingly seeking candidates with AI capabilities, even for positions where such skills were not previously necessary, potentially catching many job seekers off guard during the recruitment process.

Does a skills gap exist?

According to the latest Future of Jobs Report by the World Economic Forum, technological advancements are predicted to disrupt 44% of workers’ skills within the next five years. It estimates that six in ten employees will need retraining by 2027, with emphasis on analytical thinking, AI, and big data as the main areas of focus.

This issue of a digital skills shortage is a global challenge:

• The Digital Economy and Society Index (DESI) report by the European Commission indicates that over three-quarters of EU companies face difficulties in finding employees with the requisite digital skills.
• In the UK, a Forbes survey of 500 businesses revealed a 93% agreement on the existence of an IT skills gap in the UK job market, with 35% of firms citing job market competition as a significant hurdle.
• The US could see a potential loss of $8.5 trillion by 2030 due to talent shortages and skill gaps, as reported by PwC.

What skills are necessary to navigate and succeed in the face of these digital skill gaps?

Here are three critical digital skills that can bolster your marketability as a marketer and potentially increase your earning capacity:

“Proactively upskilling and internal training are essential. If your employer offers these opportunities, make sure to get involved. Employers highly value candidates who extend their capabilities beyond their primary roles to tackle complex projects.””

Mischa McInerney, CMO of the Digital Marketing Institute

Strategies to narrow the skills gap

1. Enhance your AI expertise

Digital marketers now have the ability to execute campaigns and activities on an unprecedented scale thanks to AI. The key advantages of integrating AI into marketing strategies, as identified in our recent survey, include:

• Streamlining repetitive tasks (68%)
• Enriching customer experiences (46%)
• Refining targeting and segmentation (45%)
• Boosting personalisation efforts (44%)
• Advancing predictive analytics (39%)

By familiarising yourself with modern AI tools and applications, you can enhance your efficiency as a marketer. Whether it’s performing audience analysis, generating content, making data-informed decisions, sparking innovation, or elevating customer engagement, AI tools offer a broad range of capabilities for driving business growth.

2. Boost your digital analytics capabilities

Strong digital analytics skills are imperative for today’s marketers. Analysing data from various digital sources enables marketers to gain deep insights into customer behaviour, campaign performance, and overall marketing efficiency. With tools like Google Analytics 4 (GA4), digital marketers possess a powerful resource for turning insights into informed, strategic decisions. GA4’s machine learning algorithms provide a clear understanding of customer journeys, allowing marketers to fine-tune their strategies and showcase ROI.

3. Develop strategic digital planning skills

To lead and innovate within the digital domain, understanding digital strategy is key. A comprehensive digital strategy outlines how an organization intends to achieve its business objectives through digital means. By crafting such a strategy, you can proactively navigate digital disruption, leveraging opportunities and mitigating threats to gain a competitive edge.

Mastering digital strategy involves fostering a culture of innovation and adaptability, employing emerging technologies, and reimagining customer experiences. Additionally, strategic thinkers also benefit from cultivating agility, enhancing communication skills, and promoting creative thinking — qualities increasingly vital in the AI era.

Advance Your Career with a Master’s in Digital Marketing

Transitioning to a senior role can be daunting; however, acquiring new skills and knowledge is crucial. The Master’s in Digital Marketing program offered by DMI, developed in collaboration with industry leaders such as Coca-Cola, Google, Microsoft, and IBM, equips you with the essential skills in digital marketing as well as strategic management and planning expertise sought after by employers. Download a brochure today to discover how you can elevate your career to the next level.