Canberra's IT sector will need nearly 4000 more information technology workers by 2024, well short of the number of graduates achieving the necessary qualifications.
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A report into the ACT sector and its future requirements prepared for Deloitte Access Economics has found that the current IT "talent pipeline" is insufficient and that "new pathways need to be found" to meet employer demand.
The report by the Australian Computer Society (ACS), the professional association for Australia's technology sector, believes the solution may rest in re-skilling workers from other areas.
ACS president Yohan Ramasundara said the highest policy priority for Canberra's digital economy was skills development.
"A broader measure of employees, such as accountants, solicitors and scientists, will rely on technology skills to perform their work even though they are not employed in core technology occupations," Mr Ramasundara said.
"The cost benefit from re-skilling workers in other professional industries to meet employer demand for technology skills by 2024 could potentially be more than $11,000 per employee per year."
The report found the ACT's IT employment need will grow to 27,894 technology workers by 2024, up from 23,909 last year.
In 2017, 198 ACT undergraduate students completed IT degrees, while 1263 students enrolled that same year. Student completion of IT degrees has increased by 117 in 5 years.
The Australian government is the largest IT employer in Canberra but public service commission numbers have revealed that Canberra has shed 7200 public service jobs since 2013, with only the diversification of the ACT economy saving the territory from the economic fallout from these job losses.
Private sector gains in areas such as cyber security and defence support have proved crucial in retaining IT specialists here and these areas are continuing to grow.
The ACT government's digital strategy 2016-19 outlined the need to "create the impetus and architecture for fully digitised services and technology platform renovation".
It has championed its CBR Innovation Network as an example of fostering collaboration with research groups and educational institutions.
The strategy, which has the oversight of ACT Chief Digital Officer Bettina Konti, aims to see the local IT industry develop into one which provides specialist software applications, service and capability brokerage, network and engineering services, and technology support services.
It also plans to "influence on all organisations to further the digital agenda by encouraging and enabling them to provide their services and connect our community".