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In this report, the authors offer a roadmap to guide executives toward action to address this critical issue. Recommendations are based on insights from multiple IBM Institute for Business Value research initiatives, including surveys of thousands of global executives representing multiple industries in dozens of countries, as well as performance benchmarking data from hundreds of organizations globally. Through research and analysis, it was discovered that certain skills development tactics have a strong impact on closing skills gaps. The authors have crafted a set of recommendations based on the skill development tactics that have a strong impact on closing skills gaps; these recommendations leverage artificial intelligence (AI) to assist organizations in closing skills-related gaps.