Global Demand Surges for AI, Leadership, and IT Certification Skills to Drive Better Business Outcomes

Rhea-AI Summary

Udemy's Q4 2023 Global Workplace Learning Index highlights the growing demand for technical and business skills, with a focus on gen AI, cybersecurity, and soft skills like active listening and work-life balance. The report showcases surging interest in chatbot development, LangChain, and certifications like TOGAF and AWS, emphasizing the need for upskilling in a fast-evolving work environment.

Insights

Market Research Analyst

The report released by Udemy signifies notable trends in the demand for specific skills, which has direct implications on the labor market and, by extension, on businesses that rely on a skilled workforce. The surge in demand for gen AI skills, cybersecurity and ethical hacking courses reflects a broader shift in the technology landscape, where businesses are increasingly reliant on AI and data security. This shift is likely to influence hiring practices, as companies may prioritize candidates with these emerging skills. Furthermore, the focus on certifications such as TOGAF and AWS suggests a growing emphasis on formal qualifications, which could reshape the IT training market and potentially increase competition among online learning platforms.

The data presented indicates a potential increase in investment from companies in employee training and development, aiming to close skill gaps and enhance competitive advantage. As such, businesses in the tech sector, particularly those involved in AI, cybersecurity and cloud services, may experience a positive impact on their talent acquisition strategies and product development cycles. In the long-term, this could lead to innovations and improved security protocols, benefiting both companies and consumers.

Financial Analyst

From a financial perspective, the growing demand for technical and business skills can have a significant impact on Udemy's revenue streams. The enrollment numbers and course demand growth rates serve as indicators of the company's market position and potential for future growth. The data suggests that Udemy is successfully capitalizing on the increasing need for continuous learning and upskilling in a dynamic job market. This trend may lead to sustained customer acquisition and retention, driving long-term revenue growth for Udemy.

Moreover, the interest in IT certifications and the introduction of the Integrated Skills Framework by Udemy could differentiate the company from competitors and potentially create new revenue channels through badging and certification services. Investors might view these developments as an opportunity for Udemy to expand its market share in the e-learning industry. However, it is crucial to monitor how these trends translate into financial metrics such as customer lifetime value, average revenue per user and profit margins, which are key factors in evaluating the company's financial health and stock performance.

Economist

The data provided by Udemy's report has broader economic implications, particularly in terms of workforce development and productivity. The emphasis on emerging skills such as gen AI, cybersecurity and ethical hacking suggests a labor market in transition, with a shift towards more specialized and high-tech roles. This could lead to higher productivity as workers become more adept at leveraging technology, but it may also exacerbate existing skills mismatches and contribute to wage polarization.

Furthermore, the increasing importance placed on 'human' skills like active listening and work-life balance reflects a changing corporate culture that values soft skills alongside technical proficiency. This cultural shift could improve employee satisfaction and retention rates, ultimately enhancing economic output. However, the transition may present challenges for workers who need to adapt to new technologies and work arrangements, potentially leading to short-term disruptions in the labor market.

Latest report from Udemy highlights emerging demand across technical and business skills

SAN FRANCISCO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Udemy (Nasdaq: UDMY), a leading online skills marketplace and learning platform, today released its Q4 2023 Global Workplace Learning Index, a quarterly report highlighting emergent skills that are growing in demand, as workers of today continue to navigate a fast-evolving work environment.

Drawing from the activity of nearly 16,000 Udemy Business customers across the globe, Udemy is uniquely equipped to provide insight into the emergent technological and professional skills in the workplace today. These insights enable Udemy to arm organizations and learners with the information they need to stay ahead of trends and compete in a constantly evolving workplace.

“2023 was a year where trends around generative AI (gen AI), hybrid work, building inclusive global workplaces, and macroeconomic uncertainty drove the consistent need to upskill across both technological and leadership capabilities," said Greg Brown, President and Chief Executive Officer at Udemy. “Workers today need tech skills as much as they need soft, or power skills. Our Q4 Workplace Learning Index highlights how professionals are responding to, and meeting these demands, with surging interest in skills like chatbot development, listening, and customer service.”

The Index highlighted several emerging themes in corporate learning, including:

• Gen AI skills continue to surge, suggesting an evolution in how workers are utilizing it. Growth in LangChain (109%) and chatbot development skills (56%) suggest that workers are moving from trying to understand what gen AI is to learning how they can apply it to their roles and businesses. As of Q4 2023, 3.2 million learners had enrolled in more than 1,700 gen AI courses on the Udemy platform. According to Udemy’s Global Learning & Skills Trends Report, ChatGPT was the fastest-growing skill in 2023, with a surge of 4,419%. While ChatGPT continues to be popular and remains a surging skill in some countries, professionals are also learning how to build their own models with their own data, rather than relying solely on external bots. Just like when developers began to build their own apps, this movement could signal significant innovation in the field.
• The gen AI skills surge is happening in parallel with surges in cybersecurity and ethical hacking. As organizations start to leverage more data for gen AI, they may also recognize the need for stronger cybersecurity capabilities. Udemy saw growing demand for cybersecurity courses in Spain (154%) and Mexico (47%), in particular. Similarly, courses for ethical hacking saw increased demand within the entertainment and media industry (37%) and also in Mexico (28%).
• As workers continue to navigate hybrid or remote work and find their place in an AI-focused landscape, they’re eager to improve their “human” skills. For leaders and employees alike, skills like active listening and work-life balance are even more important as they seek to communicate with colleagues in a mix of in-person and virtual settings and try to set boundaries in a world in which work is ever-present and always on. Globally, listening skills have surged 52%, customer service skills by 51%, and work-life balance skills saw an increase of 42%.
• Learners continue to value and seek certifications to stand out in a competitive job market. Udemy is among the largest platforms to support IT certification on the market, with 10 million enrollments in IT certification training on the platform in the past year. Globally, the fastest-growing certification preparation courses were The Open Group Certified: TOGAF Enterprise Architecture Foundation, which saw an increase of 167%, and 1Z0-819: Oracle Certified Professional: Java SE 11 Developer with an increase of 63%. In the tech industry, Lean Six Sigma Green Belt Certification was increasingly popular, with an increase of 86%, and AWS dominated in global markets such as Japan, where AWS Certified Security - Specialty increased by 86%. To address this continued demand, Udemy introduced the Integrated Skills Framework in 2023 for the discovery, preparation, and demonstration of skill-building in organizations through badging and certifications.

“The world of work is shifting quickly, and the skills necessary for success are shifting with it,” said Stephanie Stapleton Sudbury, President of Udemy Business. “As more leaders begin to integrate skills-based approaches into their talent and development strategies, it’s even more important to keep a finger on the pulse of key learning trends and top skills to prepare their workforces.”

To learn more about how organizations can partner with Udemy Business to upskill for the future, visit: business.udemy.com.

Methodology
The Udemy Global Workplace Learning Index uses data from thousands of Udemy Business customers worldwide. Location data is based on the country associated with the company. The skills data compares the consumption of courses in the Udemy Business collection from Q3 2023 to Q4 2023. Courses are associated with one or more topics, with a maximum of five topics per course. The trending skills that you see in the report are based on these topics. If a course covers multiple topics, consumption minutes are divided equally across all topics associated with the course.

About Udemy
Udemy (Nasdaq: UDMY) transforms lives through learning by providing flexible and effective skills development and validation. Through the Udemy Intelligent Skills Platform and its community of instructors, millions of learners gain expertise in a wide range of technical and professional skills – from generative AI to leadership. The Udemy marketplace provides learners with thousands of up-to-date courses in dozens of languages, offering a variety of solutions to achieve their goals. Udemy Business empowers enterprises to offer on-demand learning for all employees, immersive learning for tech teams, and cohort learning for leaders. Udemy Business customers include Fender^Ⓡ, Glassdoor, On24, The World Bank and Volkswagen. Udemy is headquartered in San Francisco with hubs in Denver, USA; Ankara and Istanbul, Türkiye; Dublin, Ireland; Melbourne, Australia; and Gurugram, India.

Media Contact
Elizabeth Weingarten
Director of Thought Leadership
press@udemy.com

Investor Contact
Dennis Walsh
Vice President, Investor Relations
dennis.walsh@udemy.com

FAQ

What skills are highlighted in Udemy's Q4 2023 Global Workplace Learning Index?

The report highlights skills like gen AI, cybersecurity, active listening, work-life balance, chatbot development, LangChain, and various IT certifications.

How many learners enrolled in gen AI courses on the Udemy platform as of Q4 2023?

As of Q4 2023, 3.2 million learners had enrolled in more than 1,700 gen AI courses on the Udemy platform.

Which certifications saw increased demand globally according to the report?

Certifications like The Open Group Certified: TOGAF Enterprise Architecture Foundation, Oracle Certified Professional: Java SE 11 Developer, Lean Six Sigma Green Belt, and AWS Certified Security - Specialty saw significant increases in demand globally.

What new framework did Udemy introduce in 2023 to address the demand for certifications and skill-building?

Udemy introduced the Integrated Skills Framework in 2023 for the discovery, preparation, and demonstration of skill-building in organizations through badging and certifications.

Who mentioned the importance of integrating skills-based approaches into talent and development strategies in the PR?

Stephanie Stapleton Sudbury, President of Udemy Business, emphasized the importance of integrating skills-based approaches into talent and development strategies.