McKinsey - The Skills Revolution and the Future of Learning and Earning

The McKinsey report, "The Skills Revolution and the Future of Learning and Earning," discusses how workers must continuously adapt their skills to keep up with the deployment of new technologies, such as automation and artificial intelligence, in various industries. Private and public leaders need to help prepare the workforce for the skills revolution. The report examines trends across the stages of education, from early childhood to lifelong learning, with an emphasis on the Middle East and North Africa. The MENA region has a significant skills gap and needs to focus on social and emotional skills, advanced digital skills, and basic literacy and numeracy. The report calls for bold and frequent upskilling, with research showing that work experience contributes significantly to an individual's overall human capital value. The pandemic has boosted demand for new technologies, which are increasingly deployed in education. The report highlights the importance of early childhood education, which has a significant impact on health and social services. K-12 education is seeing increased focus on embedding future skills in curriculums, while higher education is shifting to a skills-first approach. The workplace must continue skills development long after formal education ends by hiring for skills rather than experience, embracing a talent incubator mindset, and thoughtfully addressing skills gaps.