Given the increased focus on education and employment, close to 1.7 crore people join the workforce in India every year. In contrast, 55 lakh new jobs are created, thereby creating a huge employment gap. The issue is compounded with the speed with which the industry is moving, soon, employers will not have the requisite talent to succeed competitively.
Business models are undergoing disruptive changes, and this will have a profound impact on employment landscape in future. Many of the major drivers of transformation currently affecting global industries are expected to have a significant impact on jobs, ranging from significant job creation to job displacement, and from heightened labour productivity to widening skills gaps. In many industries and countries, the most in-demand occupations or specialties did not exist 10 or even five years ago, and the pace of change is set to accelerate.
A recent study by Microsoft along with IDC conducted with 1560 business decision makers in mid and large sized organisations in the Asia-Pacific region shows that 85% of the jobs will be transformed in the next three years, half of which will be redeployed to higher value roles or reskilled to meet the need of the digital age.
In India, 200 top executives were quizzed about the future of current jobs in India and the response was a staggering 92 percent jobs will see a transformation.
While 31% of jobs may be automated or made redundant, 28% new roles are expected to be created due to digital transformation, leaving a gap of 3%.
Institutions have a great opportunity here to identify and train people in the upcoming roles which lie ahead. For higher education institutions, re-training and re-skilling presents another set of opportunities to partner with industry and provide assistance. The 3 percent jobs that may be affected were primarily in production area where robots may be able to up take to routine tasks that is currently being performed by manual labour posing life hazards.
Jobs in demand in future
India is undergoing a huge transformation for multiple reasons. Rapid urbanisation, demographic changes, a stable political environment and adoption of advanced technologies like never-before are likely to impact the jobs in future.
We have witnessed a massive transformation of unorganised sector into organised ones like in Transportation, food catering, passenger vehicles, maintenance, industrial services and even software development. Not only is this leading to increased share of organised sector in the economy.Some of the jobs that we can expect in future include:
VFX Artist, Data Scientist, Data Architect, Cloud Architect, AI research Scientist,3D Design Engineer,Language Processing specialistApp, Developer, Digital Marketing Specialist, Augmented Realty Developer, 3D Printing Technician, Vehicle Cybersecurity Expert, Sustainability Integration Expert, Apparel Data Scientist (Textiles), IT Process Engineer, Environment Specialist, PLC Maintenance Specialist, Blockchain Architect, Robot Programmer, Process Modeler Expert, Customer Experience Leader, Retail Data Analyst (Retail Industry), IT Process Modeler
Digital Content Specialist, Drone Pilot, Digital Imaging Leader
Around 65% of children entering primary school will end up working in completely new job types that don’t even exist today.