In the dynamic realm of energy, adaptation isn't just a strategy—it's a necessity.
Exploring the findings of the 2024 GETI Report, Anna Frazetto, Chief Revenue Officer at AirSwift, engaged in a webinar dialogue with CEO Janette Marx, delving into key takeaways and future trajectories unveiled by the report.
According to the survey, 86% of respondents expressed optimism about AI's impact, with 78% expecting increased productivity and 64% foreseeing new career avenues. Additionally, the report revealed a surge in overseas job transfers, with 58% of companies offering such opportunities.
The genesis of the GETI report
Janette Marx traces back the origins of the GETI Report to 2017, a pivotal moment amidst significant shifts within the energy industry. The report was conceived as a collaborative effort to capture industry sentiment, workforce trends, and global mobility.
"The GETI Report emerged from a need to gather comprehensive data on workforce dynamics," Marx explains, underscoring its role in tracking industry evolution.
Workforce dynamics and transferable skills
Most hiring managers have shifted towards valuing transferable skills from other sectors, emphasising adaptability and continuous learning.
A notable shift highlighted in the report is the evolving expectations of hiring managers. Previously fixated on sector-specific experience, there's a growing openness to professionals with transferable skills rather than demanding specific expertise within the energy sector.
This paradigm shift is reflected in the statistics, with 48% of respondents reporting receiving development opportunities last year, a trend expected to increase dramatically as 63% believe AI will pressure them to learn new skills.
Marx says, "We have seen that come full circle; now it doesn't matter which sector you start in; you can take some of your skills and move into other sectors." This trend reflects a growing need for a diverse workforce with adaptable skill sets.
Renewable energy: Now a present reality
There's a lot more projects going on. And when you couple the investment and where the investment's going, and then the people who want to do excellent work, as they are starting to open up their minds to travelling to different countries and seeing where they can add value and make an impact, you go to where the work is.
- Janette Marx
The transition to renewable energy sources like wind and solar is no longer a distant dream but a tangible reality. Investments in clean energy are skyrocketing, signifying a seismic shift in the energy landscape.
Moreover, there has been a notable surge in overseas job transfers, reflecting the global nature of renewable energy projects.
It's a remarkable time to be part of the energy sector, with renewable energy projects gaining momentum worldwide.
Supporting this statement, the report reveals that 51% of respondents in renewables reported a salary increase, with 24% experiencing a rise of 5% or more, indicating a growing attractiveness of the sector.
The report also finds a rise in overseas job transfer opportunities within the renewable energy sector, with the proportion of companies offering overseas job transfers rising to 58% from 52% in the prior year.
This reflects the global nature of the renewable energy field and the willingness of professionals to relocate for the right opportunities.
The report further underscores a clear transition towards renewable energy sources like wind and solar. According to energy analysis, investment in renewable energy is multiplying at a rate of 8.7% CAGR, surpassing the growth rate of traditional energy sources at 1.2% CAGR over the next ten years.
"Energy investments growing from $886 billion in 2020 to $1.34 trillion in 2023," says Marx. The International Energy Agency (IEA) also witnessed an impressive nearly 50% rise in renewable projects in 2023 alone.
This trend and the opportunity to contribute to a sustainable future will likely continue, making renewable energy an attractive sector for skilled professionals.
The role of AI in energy
AI is revolutionising our work, with professionals optimistic about its potential to enhance productivity and open new career avenues.
AI is emerging as a powerful driver of change, demanding a new blend of technical knowledge, analytical capabilities, and leadership skills. From automating workflows to improving productivity and fostering innovation, AI is seen as a game-changer.
The survey results show that 64% of respondents see new career opportunities emerging due to AI, while 78% anticipate increased productivity.
This highlights AI's potential to reshape the energy workforce and create exciting new paths for professionals. This evolution necessitates continuous learning and upskilling for both individuals and organisations. AI's integration is pivotal for strategic decision-making, from optimising production services to enhancing safety protocols.
The survey also reveals overwhelming optimism regarding AI's impact, with professionals foreseeing increased productivity and exciting new career avenues.
Looking ahead
As the energy sector navigates an era of rapid change, one thing is clear—it's an exciting time to be part of the industry. The convergence of technology, sustainability, and global collaboration presents unprecedented opportunities for innovation and growth.
"The energy sector is poised for transformation, offering ample room for professionals to contribute to the transition towards a sustainable future," Jeanette concluded.
The overall message from the GETI Report is one of immense optimism regarding the future of the energy sector. AI is a powerful driver of change, creating new opportunities while demanding a more adaptable and skilled workforce.
The focus on renewable energy is a positive development driven by a growing commitment to sustainability. As the sector continues to evolve, one thing remains clear: exciting times lie ahead for the energy industry.
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