Jasdeep Singh: Data Science and Blockchain Are Promising Fields for High School Graduates
The COVID-19 pandemic emphasized the importance that technology will have in shaping the modern world with certain trends, such as remote work and cloud-based applications, being implemented at an incredible pace.
In this particular context, business consultant and former principal Jasdeep Singh from Connecticut has shared with us his top picks for the most promising fields for high school graduates for the next five to ten years.
But first of all… Why technology?
According to a recent survey conducted by global research firm McKinsey & Company, COVID-19 has accelerated the adoption of certain technologies to an extent that nobody would have expected.
Among some of the most interesting findings was McKinsey’s highlight of increase in the percentage of global consumers who have regular digital interactions jumped from 36% to 58% during 2020. Additionally, among businesses, there was noticeable growth in the number of global products and services that are now being at least partially offered digitally, jumping from 35% to 55%. Pandemic illness concerns, as well as government policies, pushed people to stay home, causing both individuals and companies to adapt quickly to generate income, collaborate, and maintain the majority of the world’s economy.
According to the study, the pace of the digital transformation “has taken a quantum leap”, which is why Dr. Singh from Connecticut, US believes that tech careers will be among those seeing the highest demand in the years to come.
3 promising tech-related fields for high school graduates
Data Science
According to data science firm Domo, the Big Data industry is growing at an accelerated pace. Users are generating millions of bytes of information that companies need to store and analyze, such as preferences, choices, and patterns people showcase through their use of various platforms.
Meanwhile, the number of people with access to the internet continues to grow, with more than 56% of the world’s population online in 2019.
In a world where data might become “the new oil” and more valuable that any currency, data scientists will be the expert oil drillers that companies desperately need to process and interpret the massive amount of raw data that can be harvested every second.
Blockchain programmers and analysts
Blockchain technology has been somehow reduced to following the price of Bitcoin and other cryptocurrencies due to the inherent appeal of money-related topics.
However, Bitcoin wouldn’t be able to exist without the blockchain, and blockchain is much more than a way to trade cryptocurrencies. Blockchain is the technology that harnesses thousands, if not millions, of peer-to-peer processors and memory banks to store and retrieve pieces of data. In the case of Bitcoin, it enables decentralized ledgers to communicate in a way that that is secure through anonymity and can verify transactions without the need of an intermediary.
In this regard, Dr. Singh believes that there will be many fields of study and application that will be very promising as we learn to utilize and optimize blockchain technology. One field in particular is known by many as DeFi, which stands for decentralized finance.
Decentralized finance proposes a paradigm shift in the way the financial industry works. It would remove the need for banks and similar intermediaries to process the transactions that individuals and businesses make regularly, including payments, loans, and transfers. This would save on transaction fees as well as reduce the middle-link barriers to open commerce.
The DeFi trend, among many others currently emerging with the blockchain as their pillar, has continued to gain ground, meaning that the services of blockchain specialists will continue to be in high demand.
Artificial intelligence (AI)
Businesses are now increasingly interested in the potential of artificial intelligence to streamline and optimize many of their processes. This is reflected by the size of the AI software market, which is forecasted to reach $126 billion in revenues by 2025.
According to a survey from Adobe in 2018, the percentage of firms that employed AI back then was just 15%. However, as much as 31% of the respondents that were not using AI for some of their processes said that adopting this technology was already on their agenda for next year.
AI has the potential to automate complex tasks, such as data recognition, eliminate redundant systems, and allow for greater interface between technology and end-users (i.e. customers).
The seemingly unstoppable growth of this market over the coming years – possibly accelerated by the digital transformation – will lead to a higher number of high-paying jobs for professionals that specialize in this interesting and challenging field.
Bottom line
Are you wondering where to invest the next few years of your life now that you have graduated from high school? The real area for growth will be those who not only understand these technologies, but are able to build upon them, apply them, and create strategies for them. In other words, those students who can combine liberal arts and technical skills effectively will find themselves at the front of the internship or hiring pack.