Technology, automation and globalization are already changing the face of many industries, and finance is one of them. Evolving faster than ever, the finance industry puts professionals in a tough spot. While their positions were already hugely demanding and required advanced qualifications, they now must develop additional skills and abilities to keep up.
With job responsibilities constantly shifting and expanding, how can you make yourself valuable for the finance jobs of the future? Thankfully, we can already make accurate predictions.
Develop Technical Skills
With the popularity of big data, blockchain, process automation and agile collaboration, the role of technology in finance is massive at the moment. This dependence on software and other tech tools will only grow in the future. If you’re curious about how these impact finance jobs, you can learn more.
Able to manage and analyze massive amounts of data, technology can make things both easier and harder for finance professionals. On one hand, the repetitive side of their job responsibilities can be partly or fully automated. On the other hand, employees would need additional technical skills to supervise and check software output for accuracy and conformity. Finance professionals with technical skills will become invaluable in the job market.
Refine Your Analytical and Decision-Making Skills
Although technological solutions have massive potential, the ability of the human mind to come up with insights that surpass the logical capabilities of a computer will never become obsolete. People with great analytical and problem-solving skills can provide original ideas, evaluate things according to less palpable but important criteria, and use reasoning for effective decision-making.
What will make people irreplaceable for the finance jobs of the future is thus their ability to gather insights from the massive flux of data compiled by machines. Finance professionals will have to use their judgement to evaluate machine output and make decisions with broad implications, perhaps even at an ethical level. Strong decision-making skills will thus become a prerequisite for finance jobs.
Continue Your Education
If technology will dissolve some low-level finance positions, the need for highly-educated professionals is likely to grow due to an increasing amount of high-impact decisions that will have to be made. If you want to be ready to tackle more challenging responsibilities, the key is to prepare in advance by continuing your education with relevant courses.
The more advanced your knowledge of finance is, the less you would have to worry about being replaceable in the foreseeable future. Earning a graduate degree or an industry certification can be thus a strategic career step, able to provide you with an increased sense of security.
Become a People’s Person
Interpersonal communication skills, cultural awareness, leadership skills, and emotional intelligence are likely to become a bigger component of your job responsibilities in the future. As technology will take over more and more specialized tasks, employees will have to change their focus to more people-oriented goals, such as exchanging information, collaborating on decision-making, and establishing meaning and purpose.
To prepare for the finance jobs of the future, a great tip is to refine your communication and other soft skills so you can be ready to take on responsibilities outside of your strict professional specialization. While machines can work wonderfully with data, they cannot conjure a vision, nor persuade others to follow it.
Whereas technology can cover many finance tasks, people have the unique power to make decisions combining knowledge with emotional intelligence, intuition and instinct, which is invaluable for the finance jobs of the future.