There are many other initiatives by the Government which are expected to usher in a new era in Indian business.
So, it is clear that a lot of global and national drivers are shaping Indian business and industries. Let us now explore what are the likely
implications of these on jobs and skills.
Implication on Jobs & Skills
Disruption in industry structures and business models is expected to have a significant impact on the employment landscape over the
coming years. Automation, AI and Big Data are expected to alter both manufacturing and delivery processes and managerial jobs.
In a widely quoted paper by Frey and Osborne (2017) of Oxford Martin Institute, authors said that 47 percent of US Jobs face a threat
from new technology: “According to our estimates around 47 percent of total US employment is in the high risk category.” They add
further “Our findings thus imply that as technology races ahead, low-skill workers will reallocate to tasks that are non-susceptible to
computerisation – i.e., tasks requiring creative and social intelligence. For workers to win the race, however, they will have to acquire
creative and social skills.”
While experts anticipate a substantial negative impact of Fourth Industrial Revolution and associated technologies on number of
unskilled and semi-skilled Jobs, what will be the impact on managerial jobs?
Reports by think-tanks like World Economic Forum opine that rapid advances in technology will automate the routine jobs, but put a
premium on jobs that require Creativity and People Management.
Future of Jobs Report by WEF says that by 2020, Complex Problem Solving, Critical Thinking, Creativity and People Management are the
Top 4 skills that employers will look for.
Top 10 Skills for Jobs in 2020 |