Crucial to upskill: Degrees alone no longer guarantee success; future-proof skills do. – 123rf.com
Imagine spending years earning a degree, only to find that the skills you’ve learnt are outdated by the time you enter the workforce. It’s a scary thought, but in today’s fast-changing world, it’s becoming a reality.
Technology is moving so quickly that the job market is changing in ways we couldn’t have imagined a decade ago. Some traditional jobs are disappearing, new ones are emerging, and the skills employers are looking for are shifting right under our feet.
According to the World Economic Forum’s Future of Jobs Report, in the next five years, 69 million new jobs will be created, but 83 million will disappear, leading to a net loss of 14 million jobs globally.
However, this shift isn’t just about job losses – it’s about transformation. While automation and artificial intelligence (AI) are eliminating certain roles, entirely new industries and career paths are emerging at an unprecedented pace. The big concern now is whether there will be enough talent to support this transformation in the next five years.
The challenge for educators, policymakers and students is no longer about preserving old jobs, but preparing for new ones. The increased adoption of new and frontier technologies, along with greater digital access, is expected to drive job growth across industries.
Three industries are leading the transformation of the global workforce: fintech, AI and information technology (IT), and healthtech and biotech. These fields are rapidly expanding, fuelled by technological advancements, automation, and a growing need for specialised expertise.
Fintech and digital finance
The financial sector is evolving beyond traditional banking, with AI and blockchain transforming how people invest, transact and manage money. Cryptocurrencies, decentralised banking and automated financial services are becoming the norm, eliminating many conventional roles while creating new ones.
The demand for specialists in AI-driven financial analytics, cybersecurity and blockchain development has skyrocketed. Today, companies require experts who can predict market trends using big data, protect digital transactions from cyber threats, and develop innovative fintech products that make banking more seamless and secure.
AI, IT and quantum computing
Technology is no longer a sector – it’s the backbone of every industry. AI, cloud computing, and the Internet of Things (IoT) are reshaping business operations worldwide. Companies are aggressively automating processes, implementing AI-driven decision-making, and leveraging virtual and augmented reality to enhance customer experiences.
Alongside AI and cloud computing, quantum computing is emerging as a game-changer.
Companies like Microsoft, Google and IBM are racing to develop quantum technologies that could revolutionise industries by performing complex calculations in seconds – something today’s most powerful computers would take years to accomplish.
The potential applications in cryptography, materials science, pharmaceuticals and AI are immense, making quantum computing specialists one of the most sought-after professionals of the future.
Healthtech and the biotech boom
An ageing global population and rapid medical advancements have made healthtech one of the most promising fields for job creation. Biotechnology, genetic engineering and telemedicine are revolutionising healthcare, leading to breakthroughs in personalised medicine, AI-powered diagnostics and robotic-assisted surgeries.
The demand for AI specialists in healthcare, biomedical engineers and genetic data analysts is growing exponentially. With digital health platforms expanding, professionals who can integrate AI into medical diagnostics, develop bioengineered solutions, or innovate in telemedicine will shape the future of healthcare.
Staying relevant
In this fast-changing job landscape, degrees alone no longer guarantee employability. Today’s graduates must be strategic in developing future-proof skills that align with the evolving job market. Digital literacy, AI proficiency, cloud computing, big data analysis, and quantum computing fundamentals are becoming fundamental across industries.
Students should not just rely on what they learn in the classroom but actively seek out opportunities to upskill. Beyond technical expertise, soft skills like adaptability, creativity and problem-solving remain critical.
The half-life of technical knowledge is shrinking, meaning that professionals must embrace continuous learning to stay ahead. The ability to work with emerging technologies, think critically and collaborate across disciplines will be the key differentiator in a world where automation is replacing routine tasks.
M’sia’s chance to lead
The future of work is not approaching – it is already here. In an era where AI, quantum computing, big data and biotech are redefining industries, the ability to adapt, innovate and lead will determine Malaysia’s place in the global economy.
Degrees alone no longer guarantee success – future-proof skills do. Our universities are already taking bold steps to integrate industry-driven education, advanced digital training, and real-world applications. But the momentum must continue.
Malaysia has the talent, resources and vision to become a global hub for fintech, AI, biotech, and emerging frontier technologies.
With continued investment in cutting-edge research, strong industry-academia collaborations, and a culture of lifelong learning, we can build a workforce that doesn’t just respond to change – but drives it.
The future belongs to those who embrace innovation, master new technologies, and dare to think beyond traditional career paths. Malaysia is not just preparing for the jobs of the future – we are creating them.
Prof Dr Mohammad Falahat is the director of the Strategic Research Institute at the Asia Pacific University of Technology & Innovation (APU). With over 20 years of experience in international entrepreneurship, SME performance and education management, the Universiti Sains Malaysia Gold Medal Award recipient has secured prestigious research grants, including FRGS, TRGS (MoHE), PPA, MASA, MPC, and MCA Belt and Road Centre. The views expressed here are the writer’s own.
