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Lack Of AI Skills Slows Innovation

The most serious obstacle to digital transformation in companies is the mismatch between the skills of employees and the ever-increasing pace of innovation, concludes a global report by SoftwareOne.

Key Facts

  • Nearly two-thirds (62%) of survey respondents indicated that they do not have sufficient skills to work with artificial intelligence (AI), while at the same time, 41% of organizations are having difficulty finding qualified employees with AI experience and knowledge.
  • The lack of cloud skills has increased the workload of employees (62% of respondents) and has led to significant consequences, including burnout and increased turnover.
  • Nearly a quarter of global IT managers (23%) are considering leaving their jobs precisely because of this shortage, while at the same time, for 84% of companies, retaining IT talent is becoming a significant challenge.
  • Talent retention problems in companies are further exacerbated by team conflicts. 34% of the respondents point to the lack of skills to work with cloud technologies as a reason for tension between them and the direct manager, and 42% perceive it as a reason for conflicts in the team. One in five (22%) respondents said they did not feel comfortable asking for additional training to improve their skills.

Important Quote

“Rapid advances in AI and generative AI create exciting prospects for companies around the world, but when it comes to teams, organizations are sitting on a ticking time bomb if they don’t upskill and upskill their employees to realize AI’s potential,” says Brian Duffy, CEO of SoftwareOne.

What To Watch For

The research highlights the importance of prioritizing employees working more closely with advanced technology, which is proving key amid growing skills gaps in cloud and AI. This would significantly transform organizational dynamics, with 97% of companies planning to upskill their employees, the survey found.

“Our research shows that a large number of organizations are planning to enhance the capabilities of their IT teams to accelerate AI and cloud deployments. By putting people at the center and demonstrating the benefits of innovation for their roles in the organization, companies can build a supportive and positive environment that helps retain employees, increases productivity and makes work more meaningful.”

Tangent

The SoftwareOne Cloud Skills Report surveyed 500 senior management respondents in the UK, Benelux, North America and Australia, exploring how the cloud skills shortage is affecting IT teams and what plans are in place to address it in 2024

The End of an Era: From Woolworth in 1971 to the Sale of ERA in 2025

The humble beginnings of the first Woolworth department store in 1971, strategically located at the bustling intersection of Makariou and Diogenis Akritas streets in Nicosia, marked the dawn of an expansive retail journey for the CTC Group.

Fast forward over five decades, and this journey reaches a new milestone with the sale of the iconic ERA department stores in 2025. This transition signifies not only the closing of one chapter but the beginning of another in Cyprus’ retail industry.

The Evolution of Retail Giants

Since its inception by the Ermes Department Stores Plc, Woolworths saw major developments including key openings like Woolworth Apollo in Limassol in 1987, and the country’s largest, Woolworth Olympia, in 1992.

Spanning several cities, Woolworths became synonymous with a robust retail experience. As times changed, so did the brand, evolving into ERA Department Stores after ending ties with Debenhams in 2020.

A Bold New Future for ERA

In a strategic move, Ermes Department Stores Plc has transferred its ERA stores to Gencom Ltd for a symbolic €1, despite operating losses mounting to €1.3 million in 2024.

What’s next for ERA under Gencom Ltd? Speculation suggests that this bold acquisition by a prominent retail player could redefine the shopping landscape. With no immediate rebranding plans, the ERA name stays, ensuring continuity for its loyal customer base.

The Future Forbes Realty Global Properties

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