Cognitive Systems - Skills Demand is Soaring

Demand for virtual reality experts and machine learning engineers with knowledge across data mining, statistical modelling, data analysis and natural language processing is on the rise. Closely tracking the now rapidly increasing enterprise adoption of these technologies.

While the concepts of machine learning aren’t new, adoption among businesses is becoming more pervasive. Consumers are accustomed to shopping recommendation engines that anticipate probable purchases, and they’re growing more dependent on driving optimization tools that use sensor data to suggest less congested traffic routes.

Digital Business

Companies that are making the transition to digital businesses aim to make better use of all the data they’ve been gathering and analyzing – creating new business opportunities and new ways to reach customers. Research firm IDC forecasts global spending on cognitive systems will reach nearly $31.3 billion in 2019 with a five year compound annual growth rate of 55%.

Likewise, virtual reality is making its way out of niche applications and into the broader corporate landscape. Lower cost and higher quality motion sensors, screens and processors are fuelling enterprise interest in virtual reality technology for applications such as prototyping, product development and virtual showrooms.

A third area that’s driving new demand for skilled talent is the distributed ledger technology, blockchain. "The use of blockchains, of which bitcoin is but one implementation, has the potential to deliver disruptive change, as cryptocurrency-based technologies become more widely adopted and evolve to powerful decentralized platforms supporting diverse scenarios for value exchange," says research firm Gartner, which forecasts that by 2020, autonomous software agents outside of human control will participate in 5% of all economic transactions.

Further, audit and professional services firm, Ernst & Young believes "blockchain technology has the potential to streamline and accelerate business processes, increase cybersecurity and reduce or eliminate the roles of trusted intermediaries (or centralized authorities) in industry after industry." Add to that: embedded health, regulatory compliance, a wholesale move to consumption pricing models, industrial IoT, pay-for-performance agreements.

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