In our increasingly digital world, especially for younger individuals, life is heavily influenced by platforms like TikTok, Instagram, and Snapchat. This reliance has led to the emergence of a booming $250 billion “creator economy.”

For young individuals to thrive in this economy, advanced digital skills are necessary, yet the World Economic Forum indicates these skills are largely absent in current educational systems. In response, Adobe has launched a major $100 million training initiative aimed at assisting 30 million learners, starting this month with course costs as low as $49.

Gen Z – The generation engaged with TikTok, Instagram, and Snapchat

It’s accurate to state that Gen Z, those in their late teens and early twenties, are deeply absorbed by social media. Their choices in fashion, food, and even thoughts are often driven by online trends. Research shows that 72% of Gen Z and millennials follow influencers, with 50% of millennials leaning on their recommendations over those from celebrities (39%).

Marketers recognize this shift; one in four use influencer marketing, with 89% planning to either sustain or increase their investment in it next year. The rapid growth of the creator economy is evident, with projections estimating it will rise to $480 million by 2027, according to Goldman Sachs.

Clearly, this expanding economy will generate extensive job prospects in the future across both large firms and smaller entities. Moreover, the supportive nature of this industry for entrepreneurs will further encourage startup culture.

The pressing digital skills shortage – Insights from the World Economic Forum

As the creator economy flourishes, along with digital transformation and AI integration, possessing digital skills is becoming crucial for the modern workforce. The World Economic Forum predicts that by 2027, skills like creative thinking, AI, and big data will be in high demand.

However, many vital creative and digital skills necessary for today’s youth are omitted from school curricula, leading to an educational gap that leaves future job candidates ill-prepared. The same World Economic Forum report anticipates that by 2027, six in ten workers will need training, yet only half have sufficient access to learning opportunities at present.

In the U.S., the National Skills Coalition (NSC) points out that while 92% of jobs require digital skills, a third of workers possess few or none due to historical underinvestment and systemic inequalities. This disparity is particularly pronounced among disadvantaged communities. For instance, Black youth are three times more likely to lack independent digital skills compared to their white counterparts, while Hispanic youth are nearly double as likely to be in the same situation.

Adobe’s Global Initiative to enhance digital literacy for youth

At its recent creativity conference, Adobe unveiled a new global effort aimed at addressing the considerable digital skills gap facing youth worldwide. This initiative is set to be a comprehensive and long-term solution.

In its first year, Adobe will invest $100 million via donations, scholarships, access to products, and partnerships, with more funding expected in the future. The initiative aims to train 30 million individuals by 2030 and will cater to students of all ages, including educators. Training will be available through various educational institutions, and participants will receive an Adobe certification, which could enhance job prospects.

The program will cover a wide range of topics, not just Adobe software, including social media content, multimedia development, content marketing, multi-channel advertising, AI content generation, and responsible AI practices, among others. “The rise of the creator economy and groundbreaking AI technologies have opened up a new array of opportunities across all industries,”

Stacy Martinet, Adobe’s VP of Marketing Strategy and Communications, stated, “Our goal is to ensure that AI helps to reduce the digital gap rather than increase it.”

To tackle the significant digital skills deficit in disadvantaged areas, Adobe is investing $250,000 in scholarships during the initial year of the program. These funds will be provided through nonprofit organizations.

The first set of courses will launch on Coursera this month. These courses will provide certifications for content creators and graphic designers, with more courses in digital marketing expected to be available in early 2025. Course fees range from $49 to $399, contingent upon the specific course, scholarship availability, and other factors. This initiative presents a fantastic chance for everyone to acquire skills essential for navigating the digital future.