Daily Management Review

New Research Warns The EU May Fall Short Of The Digital Decade Targets


New Research Warns The EU May Fall Short Of The Digital Decade Targets
According to a report by strategy consultant Public First, the European Union risks lagging behind its Digital Decade targets by ten years unless governments focus on bridging the skills gap.
Last year, the European Commission unveiled a 2030 vision for the region that calls for 80 per cent of the population to have basic digital skills, 5G connectivity everywhere, full online public services, and 75 per cent of EU firms to use cloud services.
According to the analysis, which was commissioned by Amazon Web Services (AWS) and will be revealed later on Thursday, meeting all of the targets would take until 2040 at the current rate of advancement.
According to the analysis, the EU is on course to unlock 1.3 trillion euros ($1.36 trillion) in economic value by 2030, but if progress is accelerated, up to 1.5 trillion euros in additional benefits might be realised by the end of this decade.
"The biggest blocker we have heard from our customers and what stated in this report as well is the lack of digital skills," Tanuja Randery, Managing Director at AWS, told Reuters.
As companies' migration to the cloud is likely to be a major growth driver, several companies, such as AWS, have been giving free cloud training to employees and job seekers.
However, according to the analysis, only 61 percent of the EU's population is expected to have basic digital skills by 2030, falling short of the 80 percent target.
Among the variables that may expedite progress toward the EU's goals, the report urged that EU businesses adopt more cloud, artificial intelligence, and big data, as well as greater government financing for research and development.
Many businesses have yet to implement new technology, and a shortage of competent personnel will certainly stifle growth and raise expenses, according to the report.