With the resources boom slowing down and a global shift towards robotics and automation revolutionising the way we work, Australia’s job market is set to undergo a major shake-up.
A recent study by Deloitte found that two-thirds of early-career Australians expect that their job will not exist, or will fundamentally change, in the next 15 years. That means that right now is the perfect time to prepare yourself for the job market of the future.
So whether you’re looking to shift industries or just want to future-proof your career by expanding your skillset, here’s five growth sectors we expect to be powering the economy over the next 15 years.
Where are the jobs going?
The convergence of various forces – ubiquitous connectivity, cloud computing, the internet of things, etc. – means each day we contribute to a growing pool of information known as Big Data.
In fact, 90% of the data in the world today has been created in the last two years alone. This exponential increase in data availability provides opportunities to derive valuable insights via analytics.
A CSIRO report into the future of the digital workplace says “the remaining pieces of the puzzle are the techniques to analyse this data”. That makes Big Data a massive opportunity for analytical minds and innovative, entrepreneurial ideas.
Traditional entry barriers for new businesses – which have kept market share and profits in the hands of large, entrenched corporations – are slowly being eroded. This allows start-ups and new businesses to enter the market in a better position to succeed.
Online marketing and distribution channels are also reducing overheads and opening opportunities for Australian businesses to compete on the world stage.
In 2013, Ernst & Young ranked Australia among the world’s top five entrepreneurial ecosystems. RMIT supports tomorrow’s business leaders by offering a suite of market-leading entrepreneurship degrees to help you develop the skills and experience to turn your business ideas into reality.
Australia is at the forefront of augmented and virtual reality technology (AR/VR). Some say we’re poised to become ‘the Silicon Valley of the south’ with a flurry of investment into investigating the possibilities of this brand new technology.
As well as the practically limitless opportunities it offers to filmmakers, storytellers and game designers, AR/VR may also hold the key to future advancements in medical science, remote education, advertising, architecture and construction.
RMIT’s Virtual Experiences Lab has been leading research into many of these areas, including the experimental design, operation and testing of telepresence and cyber systems.
Employment in the health care and social assistance industry is projected to increase by over 250,000 jobs (or 16.4%) by 2020 – the largest growth projection of any industry.
This expected growth is mainly due to factors such as Australia’s ageing population, the implementation of the National Disability Insurance Scheme and increased demand for childcare and home-based care services.
This demand, combined with advances in medical technology, will soon see registered nurses as the most in-demand profession in Australia.
Biotechnology uses biological processes to develop products in the medical, agricultural, industrial and environmental sectors that improve the way we live. It’s an important weapon in the arsenal of a society battling emerging challenges in climate change, world health and food security.
Victoria has become the hub of Australian biotechnology research, with the Victorian Government investing in a plan to support biotech research and development, bringing industry and research together to promote innovation.
With a national push to create more expertise in this area, biotechnology offers exciting opportunities to work in an area of science with huge potential.
It’s never too early to start preparing for the job market of the future. You can find out more about how to move your career in a new direction.