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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

Athens Stock Exchange approves listing of Bank of Cyprus shares

The Athens Stock Exchange, following a meeting of the Listings and Market Operation Committee, verified that all listing prerequisites for the listing of the Bank of Cyprus shares have been met and approved.

More specifically, according to the decision, “the Athens Stock Exchange, following today’s meeting of the Listings and Market Operation Committee, verified that all listing prerequisites are met and approved the listing of 443,457,297 ordinary shares of “BANK OF CYPRUS HOLDINGS PUBLIC LIMITED COMPANY” (ISIN: IE00BD5B1Y92) on the Main Market of the Athens Stock Exchange, according to art. 2 par. 4 L.3371/2005”.

It is mentioned that trading will start on Monday, 23 September 2024.

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