AI and Lifelong Learning: Pivotal Factors for Job Security According to Santander's Tomorrow's Skills Study
In a significant new report titled "Tomorrow's Skills," Santander has underscored the importance of lifelong learning, AI skills, and adapting to a rapidly evolving job market. The comprehensive study, based on a field survey of 15,000 people across 15 countries in Europe and the Americas, offers valuable insights into the changing landscape of employment.
The report emphasizes the need for continuous skill development in today's evolving market, with 81% of respondents expressing the need to keep learning. However, cost and lack of time are significant barriers to this goal.
AI is predicted to be the largest disruptor in the job market, with AI and Data Science expected to be among the most in-demand fields over the next five years. The report notes that a majority of respondents (70%) believe new jobs will emerge, and 61% identify AI and data science as priority skills for the future. Six out of ten respondents believe that proficiency in AI will be essential for employability.
The study also indicates that people are increasingly willing to reinvent themselves in response to changing work environments, underscoring the necessity of continuous skill development in a rapidly evolving economy. Nearly half of the respondents (45%) place greater importance on soft skills such as communication, leadership, and teamwork over technical training.
Latin Americans showed the strongest belief that it is the individual's responsibility to secure the training needed to adapt to an evolving job market. They have the most positive perceptions (65%) of the impact of digital learning and professional development platforms, and show the greatest willingness to use them (76%).
Europeans, on the other hand, are the most dissatisfied with their prior education in the job market, yet they show optimism about the EU job opportunities, with 64% believing there are good job opportunities and only 26% willing to emigrate for work. A global shift toward self-directed, practical learning is emerging, with Europe leading in career mobility, with 70% of respondents having changed sectors, companies, or roles during their professional lives.
Digital training platforms are emerging as an alternative training option, with six out of ten people expressing a willingness to use them. Over four in ten (43%) believe that companies should be responsible for offering lifelong learning to their employees.
Notably, North Americans believe that practical experience and non-formal education will be more valuable than formal education. Half of the respondents prefer continuous training delivered by experienced professionals. Americans are the most likely to place responsibility on companies to provide ongoing training for their employees (52%).
Santander, a pioneering supporter of education, employability, and entrepreneurship for almost 30 years, has deployed over EUR 2.4 billion to support these areas and helped more than 3.7 million people and businesses through partnerships with nearly 1,100 universities. The report was presented in Brussels by Ana Botín, Executive Chair of Santander, and Roberta Metsola, President of the European Parliament.
To equip individuals with the necessary skills for the future, Santander Open Academy offers free education to boost employability all over the world. The full report can be viewed online.
The report from Santander, titled "Tomorrow's Skills," highlights the significance of lifelong learning, particularly in the context of artificial-intelligence (AI) and data science, as they are expected to be highly sought-after skills in the next five years. In line with this, six out of ten respondents believe that proficiency in AI will be essential for employability, underlining the need for education-and-self-development in these areas. Additionally, the study suggests a growing preference for digital learning and professional development platforms, especially among Latin Americans, as a means to adapt to the evolving job market.
