Knowledge fuels personal development
In today's economy, knowledge matters more than ever, because the speed at which new technologies, discoveries and innovations appear influences the way we live, communicate and socialize, as well as the economy in general.
An overview of the world's largest companies shows us that they invest heavily in knowledge and innovation. According to statistics presented by Insights.greyb.com, we learn that:
- Apple has 95,500 patents, of which over 81% are active;
- Google holds 117,979 patents, of which over 70% are active;
- Microsoft holds 107,170 patents, of which over 65% are active.
The World Intellectual Property Indicators report for 2023 shows us that the number of patents granted each year has grown since 2012 at an average annual rate of 5.66%. Just to give you an idea of the scale, note that in 2022 there were 3.46 million patent applications, of which 1.8 million patents were granted worldwide.
The fast pace of innovation translates into the need for an adaptable workforce, with a strong capacity for reskilling and acquiring new skills, in order to keep pace with innovations in any field of activity or industry.
As a result, companies must invest in knowledge, because this accelerated growth is closely tied to their ability to sustain a culture of acquiring and disseminating knowledge. This means implementing policies that help employees learn continuously and adapt to industry trends.
The 2021 Upskilling for Shared Prosperity report, produced by the World Economic Forum and PwC (PricewaterhouseCoopers), notes that:
Large-scale investments in upskilling and reskilling have the potential to increase GDP by $6.5 trillion by 2030.
Continuous learning is essential
Given the growing importance of knowledge, especially in the technology sector, professionals must make lifelong learning, continuous learning, a priority in order to stay relevant to their employer.
The study “The Influence of Information Communication Technology Development on Income Inequality,” published in 2020, showed that the lack of access to information is closely linked to income distribution.
Companies around the world confirm the findings reported in studies like the one mentioned above. In 2023, the World Economic Forum published the “Future of Jobs Report,” which collected data from “803 companies employing a combined total of more than 11.3 million workers, across 27 industries and 45 economies in every region of the world.”
The report states that the job market is expected to grow over the next five years, but 23% of jobs will disappear due to technology innovations. The effect of technology innovation is complex, with many implications.
The companies that took part in the “Future of Jobs Report” say that 60% of workers will need to be trained by 2027, and technological literacy is ranked as the third most important skill and the fastest growing.
Keeping pace with technological developments and acquiring specialized knowledge requires commitment from both employers and employees.
The study “Deliberate Practice and Acquisition of Expert Performance,” published by K. Anders Ericsson, shows us that people tend to improve a needed skill up to the level where they can use it automatically and with minimal effort.
However, to go beyond this level and become experts in a given field, specially designed exercises and training are important and necessary. So special programs are needed, ones that focus on developing knowledge and skills.
Invest in the right learning program
We've all already seen that it's no easy task to constantly keep up with what's new in technology. We're constantly flooded with information from various channels, and the volume of information seems to grow larger every year.
According to the U.S. National Science Foundation, 3.3 million science and engineering articles were published worldwide in 2022. The flow of information outside academia is even greater, reaching so far that it has enabled the rise of business models offering information summarization and aggregation services and platforms. Such platforms include Blinkist, which offers audio summaries of books, and Ground News, which offers a news aggregator.
So the solution is to use aggregated, focused content, as well as continuous learning and development programs specially designed for current learning goals. This is a different approach from ad hoc learning, which means acquiring isolated pieces of information and which can cause problems when that piecemeal knowledge is applied, because it doesn't provide an overall view of a field.
Choose the right mentor to learn from!
Just as important is choosing the course material, the material used for learning, which must be aligned with the current technologies, practices and needs in the field you're studying.
The knowledge we gain from studying only becomes valuable once it's turned into skills. Otherwise, knowledge taken out of context and no longer up to date results in wasted time and financial losses.
We should also note here that different people have different ways or habits of learning, as well as different paces. The article “Achievement may be rooted in teacher expectations,” published in 2020, shows that one of the main challenges teachers or mentors face is the need to respond to different learning paces while also reducing the performance gap their students end up with.
So a good teacher, trainer or mentor does more than just transfer information. A good mentor will always look for ways to develop students' capacity to gather knowledge and apply that knowledge.
Another part of a good mentor's role is to give students examples and contexts from real life, or close to real life, so that students learn to apply the knowledge they've gained.
Lifelong learning - benefits
Lifelong learning is also an important aspect of our personal lives and of the community we're part of. The 2012 study “Lifelong learning; why do we need it?” shows us that people who explore new fields and learn throughout their lives are more confident, more open to change, and have well-trained minds.
Learning programs developed by Informal School of IT
Informal School of IT recognizes the importance of continuous learning at the individual level, as well as for companies and the economy in general. For this reason, Informal School of IT develops accredited learning programs that address the needs of both employees and employers.
The expert-led courses are well structured and designed for students from all backgrounds, offering a progressive learning path, from basic IT knowledge to specialized fields such as project management, leadership and AI.
About the author
Viorel Bota, mentor at Informal School of IT
With over 17 years of experience in the IT industry, I have held a variety of roles, including test engineer, test manager, team leader, software developer, software architect, trainer and mentor. My passion for learning and sharing my knowledge led me to expand my career into education.
I had the privilege of teaching at Sapientia University and ULBS, where I shared my experience in communication protocols and software design with aspiring IT professionals.
Since 2019, I've been a dedicated mentor at Informal School of IT, where I teach courses designed to help students grow their careers in IT. My role involves guiding and sharing practical knowledge, and fostering a great learning environment.
My commitment to education extends to the younger generation too. I volunteer my time at coding clubs such as Little Dragnos Coder Dojo and Caragiale Coding Club, inspiring kids to explore the fascinating world of programming and electronics.
