There is no long-term impact of COVID-19 on the future generation Z.

You can deduce this from the research report Generation Z’s role in shaping the digital economy, Which was prepared by the Research Office Oxford Economics On behalf of the camera company Pop, explode – the parent company of Snapchat. The report is based on extensive research in Australia, Germany, France, the Netherlands, the United Kingdom and the United States of America.

The future role of Generation Z

The research looked at recent developments such as the strong increase in digital communication, telecommuting, the increase in the use of e-commerce and other services in the Internet field and their impact on the labor market. By 2030, three quarters of jobs are expected to require advanced digital skills. As the first generation to grow up with technology from birth, Generation Z – which outperforms all other age groups in terms of digital skills – could benefit more than any other age group from the increased need for these competencies.

In addition to digital competence, Generation Z has been shown to have three characteristics that are likely to be beneficial in the workplace of the future: flexibility, creativity, and curiosity. So is the job in Augmented Reality (AR) – A market projected to be worth ten times what it is today by 2023 – a good example of the type of profession that requires this combination of technological skills and creativity.

An augmented reality application

Currently Augmented Reality Mainly used for entertainment, experts predict that this rapidly evolving technology will be used in a variety of industries and fields in the coming years – from marketing and education to construction and agriculture. This is done to simplify operations, reduce human error and support training.

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Researchers at Oxford Economics project that Generation Z’s share of income for the overall economy will increase from 3% to 20% between 2019 and 2030. The average salary within this population will increase by about 250% during this period. Total income Digital Natives In the countries surveyed, this decade will grow from $ 440 billion today to more than $ 3.5 trillion by the end of this decade. This equates to 11% of total household spending in the six economies studied by 2030.

Shaping the digital economy

Henry Worthington said, “Simply, in the near future, employees will have to do work that computers cannot.” The assistant manager At Oxford Economics. “It’s not that robots take our jobs, we need to make sure that we train the next generation to think and act in ways that computers cannot. Our research shows that in youth we should focus less on knowledge acquisition and focus more on versatile education that focuses on Apply this knowledge, creativity and critical thinking. ”

“Young people have faced enormous challenges so far during the pandemic,” explains Claire Vallotti. International Vice President In the Snap. But – as this research shows – their prospects are not bad, especially if we can adequately prepare young people for a rapidly changing digital economy. Techniques like Augmented Reality It could play a role in different aspects of society in the future and increase the demand for new creative and technical digital skills in this decade. Entrepreneurs with augmented reality place a great value on Generation Z’s interpersonal skills, including creativity, agility and a passion for learning. ”

The need for educational reform

This promising image comes with a caveat. If Generation Z is to take full advantage of the transition to a more digital economy, governments and educational institutions need to catch up, according to experts. Not only does it need to make up for months of interrupted learning time, but a fundamental educational reform is also needed. As with previous recessions, the economic shock that followed COVID-19 is now expected to unleash a new wave of automation, this time mainly affecting higher-education professions.

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The analysis shows that this means that in the future there will be much greater demand for technical knowledge and cognitive skills such as creativity and critical thinking. For tech talent and Augmented Reality In all walks of life, Snap has launched a number of initiatives around the world that have reached over 10,000 young people so far. For example, “Snap Lens Studio” workshops are held in France, India, Malaysia and the USA, where young people are taught a variety of augmented reality skills.

The best use of unique skills

To ensure we support young people and help them make the most of their unique skills after the pandemic, Oxford Economics researchers are calling for four steps to be taken by business, government and education:

  1. Bridging the education gap The epidemic seriously disrupted the learning process of young people. This could negatively affect the economic outlook for Generation Z, causing it to happen Digital Natives It may not be able to make the most of the opportunities offered by the new digital economy. To catch up, it can be a good idea to improve knowledge in small groups – especially for young people from underprivileged families where not all home study resources are always available.
  2. Education redesign Formal education still aims at acquiring knowledge, rather than developing the skills needed to interpret that knowledge. Today’s education systems around the world are not doing enough to encourage creative, flexible thinking, and the mindset that is exactly what is needed for jobs in this decade. Education should focus more on learning to solve problems and less on the regular testing of factual knowledge. This is an effective way to develop such skills.
  3. Using technology for retraining Coronavirus COVID-19 has accelerated the transition to a more digital economy and has permanently changed many industries. Additional training should be available to all groups of society, so that no one is left behind. Governments should consider how such relatively new technologies, when training workers for jobs that require more digital skills Augmented Reality It can provide a solution – especially in situations where only limited material resources are available.
  4. Continue to learn for life The results of a study by the Organization for Economic Cooperation and Development (OECD) indicate that just under half of adults are participating in lifelong learning. But in order to adapt to change and skill shortages on a permanent basis, lifelong learning is only more important to all workers. To encourage this, in the business world, candidates should not be required to obtain their degree as evidence of the training they have undergone, but to demonstrate their commitment to learning outside of traditional disciplines.
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