In a new report, the Commonwealth Bank has commissioned futurist Ross Dawson to take a closer look at the massive change facing the Australian economy, as accelerating technology, social shifts and fast-paced innovation transform both old and new industries. 

The Commonwealth Bank Jobs and Skills of the Future Report details how advances in data analytics and artificial intelligence are driving the formation of new education methods, skills and capabilities.

While development will generate new opportunities for value creation, as technology takes an increasing role in our everyday lives, in the future people will need to focus on the human capabilities that set us apart from machines – such as creativity, imagination, emotional intelligence and design thinking.

Over the coming decade, Australia’s education, skills and job markets will rapidly transform. Already our education landscape is beginning to change - subject areas of robotics and coding are just two examples. However, one in two Australians believe our children are not equipped with the skills needed for these changes, according to the report.

Ross Dawson is globally recognised as a leading futurist, entrepreneur, keynote speaker, strategy adviser and best-selling author.  He is CEO and Chief Futurist of the R7 Group of companies, which incorporates the marketing and innovation rm Rh7thm and multiple start- up ventures. He says: “As a result of our desire to become more digitally connected, we will continue to experience social shifts, generating a multitude of opportunities for those who are keen to create value from these new connections.

“With connectivity enabling digital disruption, almost any task can be performed anywhere in the world. In order to keep ahead and find new opportunities in this time of change, it’s important that we develop the uniquely human capabilities – adaptability, creativity and relationship skills – that set us apart from machines.”

The report identifies a number of capabilities and skills that Australians will need in the future workforce including design thinking, analysis, financial acumen and relationship building.

General Manager Corporate Responsibility, Commonwealth Bank, Kylie Macfarlane says the bank is already seeing the introduction of new skills and capabilities – there are jobs at Commonwealth Bank today that didn’t exist five years ago.

She says the bank recognises the challenges, adding “For children, school leavers and their parents, trying to navigate the changing landscape can be daunting but it also presents an opportunity for Australians to learn different skills and enter new career pathways.”

“The changing job market means education has to and is changing to keep up, and that’s why we are investing heavily in partnerships and programs with education providers to make sure our young people are prepared for the future, both in a financial and skill sense."