Leading the Digital Change: Top 3 Companies Investing in Employee Data and AI Skills
A global talent shortage that started growing around ten years ago is getting worse. It may seem counterintuitive. After all, companies have been relying more and more on technology, from AI-powered data analytics to chatbots and workflow automation. But the truth is that all this digitization requires increasing levels of data and AI literacy, and the demand far exceeds the supply.
Making a data-driven approach the core of the business rather than just an afterthought can turn this challenge into an advantage. We explore how three major companies in Lithuania — Thermo Fisher Scientific, Nasdaq technology and competence center in Vilnius, and Danske Bank — are putting data first through employee upskilling.
But first, let’s see why investing in your people’s data skills makes sense and how it strengthens your business.
Why Upskilling in Data Matters
Beyond just keeping up with the competition, training your team for data skills unlocks many other advantages.
To Address Skill Gaps and Retain Talent
A company’s current staff is a talent pool that’s often overlooked — and this is a costly oversight. While businesses are in a tough race to attract new candidates who have key data and AI skills, their existing workers might look for opportunities elsewhere. This situation leads to extra costs as businesses try to fill both new and replacement positions. A strong focus on improving the skills of current employees could be the answer to both these issues at the same time.
To Improve Decision-Making
No matter their role, everyone who makes decisions should have the tools and skills to use data effectively for smarter choices. For example, marketing and sales teams need quality data to improve customer experience, find new leads, and track ROI and ROAS more effectively. Even creative teams will perform much better if they have reliable historical data on which angles work and which don’t.
To Prepare for the Future
Giving your workforce ways to learn new skills fosters a culture of ongoing growth and moves the company closer to achieving its goals. Upskilling your employees equips them for facing any digital challenges ahead. It also prepares them for future roles and responsibilities, including ones that don’t even exist today.
Thermo Fisher Scientific: Automating Routine Tasks and Internal GPT
Thermo Fisher Scientific embraces a culture focused on LEAN thinking and process improvement. For example, it has piloted AI integration to automate some routine tasks. This shift allows staff to dedicate more time to strategic work, improving overall productivity. Meanwhile, boosting employees' data analytics skills promotes data-driven decisions, leading to better outcomes and lower risks.
The company has also developed an internal GPT platform, Gene.AI, to empower employees with the latest AI technology. This tool aims to revolutionize the way the company works and enhance value for both the team and customers.
Nasdaq: Predicting Trends and Stopping Financial Crime
Nasdaq uses AI to predict market trends by analyzing vast amounts of data on trade patterns and economic news, as well as advanced algorithms to prevent financial crimes.
By incorporating data analysis into its daily operations, Nasdaq Vilnius finds more efficient ways to work, makes more informed decisions, and improves customer satisfaction. This aligns with its goal to offer world-leading platforms. Nasdaq Vilnius Services, which belongs to Nasdaq Group, also partners with the Ministry of Economy and Innovation on an EU-funded project to automate tasks with AI.
One way Nasdaq Vilnius ensures its team members have the necessary data skills is by enrolling them in the Data Analytics program at Turing College. “The program uncovers the application of theoretical knowledge in the real world and interesting projects, provides high-quality content and a supportive community with knowledgeable mentors that will always help. The provided data analytics skill set helps drive innovation and efficiency, empowering our teams to tackle complex challenges with confidence,” says Aurimas Danaitis, VP Software Engineer at Nasdaq Vilnius Services.
Danske Bank: Implementing Various AI Solutions
Understanding data, using Tableau for visualization, and learning SQL and Python are some of the skills that Danske Bank’s employees focus on to make better decisions and advance their careers.
“These skills allow us to automate manual tasks and take back some of the time to pursue more interesting projects,” says Vytenis Pranculis, Head of 1st Line Financial Crime Machine Learning & Sanctions Screening Analytics at Danske Bank.
Like Nasdaq, Danske Bank employs data analytics and machine learning to stop financial crime by analyzing data patterns. In recent months, the vast majority of Danske Bank's employees got access to new AI tools. These tools are expected to help resolve internal tasks and, a bit further down the road, improve customer service. Current solutions include the AI-powered internal tool DanskeGPT, Microsoft Copilot, and Github Copilot.
Upskilling with Turing College
For businesses aiming to strengthen their data and AI capabilities and make the most of their current talent, Turing College offers an excellent solution. With programs tailored to the industry’s needs, it provides essential training and resources to bridge any skill gaps in data.