Expanding on the concerns raised in the January 19 post titled "The Twin Forces Leaving Many Universities Struggling to Remain Relevant—or Even Facing Financial Ruin,"- linked above - which underscored significant challenges facing higher education institutions, a newly published study presents additional troubling findings. These latest insights further highlight the growing difficulties universities must navigate to maintain their relevance and financial stability.
The study, published yesterday in the journal Technological Forecasting and Social Change, was conducted by researchers from several European institutions and one from the United States. It analyzed approximately 11 million online job postings from 2018 to mid-2024, focusing on emerging professions in the fields of Artificial Intelligence (AI) and sustainability.
The findings indicate a notable shift in hiring practices, particularly in AI-related roles, where employers are increasingly prioritizing skills over traditional degree requirements to address talent shortages. Between 2018 and 2023, demand for AI roles grew by 21%, while mentions of university degree requirements for these positions declined by 15%. The study also reveals that AI skills command a 23% wage premium, exceeding the premium associated with advanced degrees. In contrast, university degrees offer a significantly lower wage premium for both AI and sustainability-related roles. To better leverage human capital and mitigate talent shortages, the authors advocate for alternative skill-building pathways, including apprenticeships, on-the-job training, MOOCs, vocational education and training programs, micro-certifications, and online boot camps. https://www.sciencedirect.com/science/article/pii/S0040162525000733
