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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

Bank Of Cyprus Launches Cybersecurity Programme For Students In Limassol

Bank of Cyprus launched a cybersecurity initiative in Limassol as part of its “The Young Ask and Provide Solutions” programme, involving students in simulated cyberattack scenarios. The programme focuses on practical training in cyber defense and awareness of risks linked to digital infrastructure.

Innovative Collaboration And Real-World Challenges

In partnership with the Education Ministry and non-profit organization TechIsland, the programme provided a robust platform for young minds to confront realistic cyberattack simulations. Held at the modern Limassol regional offices of the Bank of Cyprus, the interactive space enabled 60 secondary school students from across the region to collaboratively tackle the complex threats facing national digital infrastructure.

Practical Exercises And Strategic Insights

Participants took part in workshops built around cyberattack scenarios. Tasks included identifying prevention strategies, planning response measures, and proposing public awareness approaches. The exercises focused on coordination and decision-making during cyber incidents.

Empowering Tomorrow’s Leaders

According to Elli Ioannidou, the programme is designed to combine theoretical knowledge with practical experience. She said the initiative aims to help students understand real-world challenges and develop problem-solving skills. Additional input was provided by Marios Stavrou, who noted that managing cyber incidents requires coordination across multiple teams and functions.

Building A Resilient Cyber Ecosystem

Experts, including Mathaios Panteli and Tanya Romanyukha highlighted the importance of early digital skills and cybersecurity awareness. Their comments focused on preparing the future workforce skills needed for managing digital risks. The programme forms part of broader efforts to strengthen cybersecurity awareness and education in Cyprus.

The Bank of Cyprus remains committed to investing in forward-thinking initiatives that inspire youth and enhance community awareness. Through these targeted efforts, the bank is not only addressing immediate security challenges but also contributing to a future where advanced technology and robust cyber defense mechanisms coexist seamlessly.

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