skill ontology has been around in artificial intelligence (AI) research for the last 40 years. Just as trends come and go, ontologies too have had their ups and downs. Introduced in the 80s, ontologies became popular in the mid-90s. After machine learning (ML) came on the scene in 2000, the widespread opinion was that in the future every task performed with a computer (by means of AI and ML) could be solved with a smart algorithm. A lot of companies invested heavily in these algorithms hoping to have the next breakthrough in AI.
Much powerful ontology already exist for specific domains, examples include the Financial Industry Business Ontology (FIBO) as well as numerous ontologies for healthcare, geography or occupations.
It is widely believed that knowledge integration and DL are the important ideas for further amplifying the effectiveness of DL. For this reason, ontologies have made it back into the spotlight, along with many equivalents such as knowledge graphs or knowledge representations.
Digital technologies are now common in daily life and becoming embedded into working culture. Having a workforce that knows how to use them efficiently is the key to a company’s success.
But which digital skills will be essential in the coming years? Each year, new technologies are developed, many gaining media attention. With so many buzzwords to keep track of from VR to AI to cryptocurrency, how can companies know what’s prudent to invest time and money into?
- Expert Data Analysis
- Advanced Social Selling
- Mobile Expertise
- Multi-platform UX design
- Network and information security
- Creative thinking
When it comes to digital transformation of HR, it’s crucial to have a workforce that has competency of the complexity of the digital world, and the new stages of a customer journey. It a necessary to have grip on skills ontology, the ultimate Skills Science to get a control on organisational skills, competence and HR analytics. From making the most of big data to staying on top of how consumers are using technology are all essential skills for tomorrow’s workforce.
Today, for example, there is a massive shortage of people skilled in data science and AI. Companies won’t simply be able to fall back on hiring new employees as they attempt to future-proof their workforce.
So, few options that business leaders have now as they prepare for digital transformation of HR and such a rapidly changing business transformation related changes:
- Sizing up the problem
- Harness technology to enable lifelong learning
- Swim outside your usual talent pools.
Making sure they have the right expertise to adapt as the technology evolves will help to future-proof teams as time marches on. For your organisations, digital transformation of HR, Check out It’s Your Skill’s high performing skill ontology and Skill profiling process and let us know the feedback.