The basic definition of upskill is to teach an employee (person) additional skills through some form of training.
In today’s competitive global market, things are changing so rapidly that even the largest global companies find it difficult competing.
In just the past 10 years, between 2007 and 2017, the biggest companies in the world in terms of market capitalization have dramatically changed. According to figures from the Financial Times, oil and gas companies dominated the list in 2007. These global organizations spanned nations including the United States, Europe, Russia, and Asia. Five of the top ten companies that made the list did so because of their status as vertically integrated oil companies benefitting from the commodities boom in the early 2000’s. Only one of ten of the companies list was a technology based company.
Fast forward ten years later to 2017. Viewing the same list kept by the Financial Times, it begins to tell a completely different story. In the top 10 companies in terms of market capitalization, seven of the top ten in the fourth quarter of 2017 are now technology companies, and what is more astounding is that there are no oil and gas companies in the top 10.
What we are witnessing is the advent of the technological revolution. This technological revolution changes global derivation of value.
The companies are using artificial intelligence, machine learning, deep learning, software engineering, cybersecurity, automation, big data & analytics, and blockchain technology to disrupt, improve, and sometimes create whole new industries.
Governments and corporations need talent in these fields or risk falling behind. If you view the trends taking place in the marketplace and understand the underlying driver is technology and innovation.
Africa is blessed with a youthful population. This youthful dividend can be prepared by upskilling those who are ready to be part of this technological revolution.
Mark Twain once said, “he would never let school interfere with his education”. This quote in some instances is relevant to the African experience. Some Governments in Africa do not provide the best formal education and students have to persevere regardless of this challenge. For the next generation, this should not be a deterrent to find these skills as they are readily available a click away online.
At the Digital Currency Council of Africa, we are taking the upskilling of Africans very seriously. We, with our partners, have put together a bouquet of courses in the fields which are necessary for the future. The ones who learn these skills will be full participants of the economy of the future. It is our policy to work with those who have the desire and capability to learn and work with the corporations who are looking at building and improving the technical capabilities of the people they have on board.