Why The World's Largest Provider Of Online Courses Thinks It's The Answer To Getting Ahead In The New Economy

[Commentary] Not every 18-year-old knows what they want to do with their life; few fully understand the market demand for different skills and competencies; and none know exactly how industries and the implications for their future careers will evolve.

Our traditional education model has many virtues, but it is front-loaded and not designed to accommodate the volatility of individual career aspirations or that of the market. A big part of the challenge is that the half-life of knowledge and skills is decreasing.

I look at our Coursera engineers, mostly in their mid to late 20s, and consider all the programming they’re doing in languages that literally did not exist when they were in school. The traditional model is also out of sync with the current generation of highly mobile millennials who, on average, change jobs every 3.2 years in the United States, according to Bureau of Labor statistics.

A front-loaded model focused on general and transferable skills and knowledge has a place, but it’s clear that it needs to be complemented with training that is more current and dynamic. In a high-skills economy, the labor market requires constant infusion of up-to-date skills to work well. Informal education is becoming increasingly relevant for individuals seeking to differentiate themselves in the job market, advance at their companies, or pursue a new career path.

More accessible and dynamic learning options are opening up -- there are a number of MOOCs; coding bootcamps like Dev Bootcamp; sites like Udemy, Code Academy, and Treehouse; and abundant content on YouTube EDU at your fingertips.

[Stiglitz is the Director of Business Development and Strategic Partnerships at Coursera]