From AI to finance: ensuring specialist skills meet industry needs
16 April 2025
Across the Australian workforce there are many finance, technology and business jobs which can be filled only by people with specialist expertise and knowledge.
We consistently hear from employers that rapid technological changes and evolving industry requirements are changing the specialist skills needed to undertake specific tasks and occupations.
This is driving skills shortages, with 85% of hiring managers reporting skills gaps are impacting their organisation’s performance.
With many roles becoming increasingly specialised, demand for skilled workers is projected to grow, with 92% of new jobs created in the next 10 years to require post-secondary education, 44% with vocational training as the primary pathway.
Our role in delivering the specialist skills the workforce needs
As the Jobs and Skills Council focussed on the finance, technology and business sectors, we’re working to identify and address current and future skills needs.
We work with industry to understand how tasks and roles are changing, mapping how workers progress through training and employment pathways.
A key part of our work is to maintain and develop training products for the Vocational Education and Training (VET) system.
We are evolving finance, technology and business training to ensure learners are equipped with relevant, future-ready skills and businesses can find the people they need to drive growth.
The priority order for this work has been defined by industry, focusing on areas of greatest demand and described in our Workforce Plan.
Finally, we maintain capacity to respond to any critical workforce needs as they emerge.
How industry guides our training product development
Industry leaders have shared with us the need to prioritise specialist digital skills which are vital not just for the tech industry, but to ensure all Australian businesses can thrive in a digital economy.
We have recently completed an update of ICT30519 Certificate III in Telecommunications to align with current industry practices.
We are now reviewing and updating all telecommunications qualifications to reflect advancements in technology and changes in safety, regulatory and licensing requirements.
Together with industry experts, we are developing a more relevant, adaptable and comprehensive Information and Communications Technology (ICT) Training Package.
The first step is assessing how ICT training needs to change and these insights inform our plans to evolve the ICT Training Package to address urgent skills gaps in areas including AI and cyber security, as well as clearly defining pathways and job role outcomes.
Defining entry-level pathways to specialist roles
Bridging specialist skills gaps requires industry support for entry-level and earn-while-you-learn career pathways.
In collaboration with employers, training providers and HR professionals, we’re working on a project to define entry level pathways, using personas to identify the skills needs for entry-level digital roles, opportunities for career progression and to determine how employers can recruit based on skills or competencies rather than qualifications.
We’re also developing earn-while-you-learn models which have potential to address the shortage of digital workers at scale.
Maintaining flexibility to deliver urgent skills needs
Given the breadth of the sectors we represent, we maintain the flexibility to respond to urgent needs.
For example, the Australian Government has introduced new mandatory climate-related financial disclosures.
In response, we’re developing new units of competency for sustainable finance, to guide finance workers in disclosures, reporting, data analysis, compliance and transition planning.
Help us to shape specialist skills for the future
At every stage of our plan, we will work with stakeholders to ensure specialist skills align with industry’s most pressing needs, while preparing learners with the skills they need to become future experts in their fields.
We need experienced and innovative people from industry, the training sector and government involved in our work. To have your say on the future of skills, join our community of Collaborators.
By Lisa Bale, Director, VET + Innovation, Future Skills Organisation.
Published in Future Skills News, FSO’s LinkedIn newsletter here.