What skills should tomorrow’s workers be acquiring today?

According to the State of Skills Report from the Burning Glass Institute, the fastest-growing and most-demanded skill sets include artificial intelligence/machine learning, cloud computing, product management, and social media. The report titled “How Skills Are Disrupting Work: The Transformational Power of Fast Growing, In-Demand Skills” was published in partnership with the Business-Higher Education Forum and publishing company Wiley.

“Of course, these four aren’t the only fast-growing skills, but they are some of the most disruptive,” says Brian K. Fitzgerald, CEO, Business-Higher Education Forum.

Unlike in the previous year, the demand for data analysis skills is no longer concentrated in the tech sector. Instead, it is now spread across job roles and industry sectors. According to the report, there were 294,000 job posts seeking data analysis skills for only 17 occupations in 2011. In comparison, a whopping 1.2 million such jobs were posted in 81 occupations in 2021. The demand for data analysis skills in existing jobs is making employees learn and apply them, as well as making way for new job roles.

Speaking of growth, AI/ML has grown at a rate of 370 percent over the last five years, growing two or three times as quickly as other high-growth skills. However, cloud computing skills are in demand in about 40% more sectors than AI/ML.

With skill needs extending beyond silos, creative marketing professionals now need analytical skills to understand and use customer data. Similarly, engineers and data analysts need management, communications, and design skills.

As a direct impact, the growth rate strains talent supply chains. “We are in the midst of an immensely challenging time in the U.S. labor market. With technology ever advancing, job requirements are evolving more rapidly than ever, making it hard for companies to find qualified workers and for individuals to qualify for good jobs. Keeping up with the changes is difficult on both sides, and it’s only getting worse,” says Josh Jarrett, Senior Vice President of Strategy at Wiley.

“Educational institutions have an equally challenging task anticipating which classes and skills they should teach to help their students land well-paying jobs when they graduate and continue to succeed throughout their careers. It’s a constantly moving target,” Jarrett adds.

Download the full report here.