Indian Workers Face Job Crisis as Technology Advances, Upskilling Key to Survival

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An increasing number of professionals in India are becoming anxious about the possibility of technology overshadowing their roles. A new study, launched by Emeritus, suggests that almost three out of four Indian professionals are worried they might lose their jobs to tech unless they continually enhance their skills. This concern is especially pronounced among those in finance, insurance, software and IT services, healthcare, and manufacturing.

The report, titled “Emeritus Global Workplace Skills Study 2023,” highlights that popular upskilling areas include digital marketing, data analytics, finance, management, and AI. Echoing this sentiment, a previous report from the World Economic Forum in 2020 estimated that almost half the global workforce would need to acquire new skills in the near future, with roles within companies evolving rapidly. Furthermore, a staggering 92% of Indians feel there’s a skill gap when it comes to employability, as per a McKinsey Survey.

The data is crystal clear: the majority of software and IT service professionals, 80% to be precise, are apprehensive about technological advancements potentially making their roles obsolete if they don’t keep pace. Similarly, anxiety levels were 81% among healthcare professionals, 79% for those in technology and innovation, 78% in professional services/consulting, and 72% in finance.

It’s not all gloom and doom though. The silver lining here is that a vast majority of professionals, irrespective of their sector, are eager to grasp technological nuances. For instance, 94% of IT professionals and 93% of those in tech and innovation are enthusiastic about enhancing their tech knowledge. Even in the manufacturing sector, 86% are interested in discovering how they can use technology to their advantage.

Additionally, the allure of higher education continues to grow. Among professionals in services and consulting, 85% are mulling over pursuing further studies. Similarly, 77% in software and IT services and 76% in manufacturing view higher education as a shield against the ever-changing global landscape.

Mohan Kannegal, the CEO of Emeritus for India and APAC, commented on the findings, saying, “While the fear of job loss due to tech disruptions is palpable across various sectors in India, it’s heartening to see 83% of respondents eager to upskill through trustworthy learning avenues. This not only boosts their career prospects but also quells some of their concerns.”

For those curious about Emeritus, it’s supported by several prominent entities, including the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, Sequoia Capital India, Bertelsmann, Accel, and SoftBank Vision Fund 2.

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