BENGALURU: A TeamLease report published on February 9, 2023 in Bengaluru predicted that India Inc. would need 30 million people with digital skills by 2026.
According to the research, Skills Strategies for a Strong, Sustainable, and Balanced World of Work, the country would require 30 million digitally competent workers by 2026, and 50% of the current workforce will need to re-skill in areas of emerging technology.
According to a TeamLease release, the survey also analysed current market sentiment and highlighted a wide range of successful skill tactics that would assist organisations to examine and augment their existing skill-development programmes to improve productivity, revenue, and bottom line growth.
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The survey also found that 75% of businesses in the country will experience a skills deficit, despite the fact that the country has a big pool of 500 million individuals of working age.
A “severe” skill shortage in India could result in more than two million unfilled jobs in artificial intelligence (AI), cybersecurity, and blockchain by 2023, according to a report released on Thursday.
The adoption of digitization, automation, and AI has increased, but professionals are unable to grow for these jobs due to a lack of skills, according to a report from TeamLease. Automation, data analytics, and artificial intelligence (AI) will compel individuals to reskill themselves in the next two years in order to remain competitive at work.
These technologies offer new opportunities for businesses to improve productivity, reduce costs, and increase efficiency. However, these same technologies are also compelling individuals to reskill themselves in order to stay competitive in the job market.
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The Impact of Automation: Automation is replacing jobs in various sectors, including manufacturing, transportation, and customer service. This has created a demand for new skills in programming, maintenance, and repair of automated systems. Individuals who fail to acquire these skills will be left behind in the job market.
The Rise of Data Analytics: Data analytics is becoming an essential tool for businesses to analyze customer behavior, improve supply chain management, and make informed decisions. This has created a demand for individuals with skills in data science, statistics, and machine learning. Those who fail to develop these skills will find it difficult to compete for jobs in these fields.
The Emergence of Artificial Intelligence (AI): Artificial Intelligence (AI) is rapidly transforming industries such as finance, healthcare, and retail. AI offers new opportunities for businesses to improve processes, enhance customer experiences, and reduce costs. However, it also poses a threat to jobs that require repetitive tasks. Individuals who reskill themselves with knowledge in AI programming, robotics, and algorithm design will be better equipped to compete in the job market.
The Importance of Reskilling: In order to remain competitive in the job market, individuals must reskill themselves with new technologies, tools, and techniques. This requires a commitment to continuous learning and professional development. Employers can play a crucial role in supporting reskilling efforts by offering training programs, mentorship, and opportunities for professional development.
Automation, data analytics, and artificial intelligence are transforming the job market, creating new opportunities and posing new challenges. Individuals must take responsibility for reskilling themselves in order to stay competitive in the job market. Employers can support these efforts by offering training and development programs to their employees. In this way, we can ensure that individuals and businesses are prepared for the future of work.
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