The initial bruhaha triggered by the advent of Artificial Intelligence is slowly fading as the din rises in the realm where algorithms twirl and machines waltz through routine tasks. There’s been a bit of a stir. Some folks are fretting about job displacement, fearing humans might end up feeling like Cinderella after midnight as recession strikes.
Let’s not RSVP to the fear party just yet. The age of AI isn’t a threat; it’s a backstage pass to a job market remix. So, grab your dancing shoes as we disco through the dazzling changes and reveal the funky strategies for you to rock.
Automation in Daily Life
Automation, encompassing machinery, artificial intelligence, and software, has seamlessly integrated into daily life in India.
From e-commerce’s algorithm-optimized delivery routes to data analytics-driven personalized product suggestions and banking chatbots handling customer queries, automation is reshaping industries and redefining roles.
The impact spans various sectors, including auto manufacturing, banking, healthcare, IT, and agriculture, each adopting robotics and automation to enhance efficiency and quality.
Evidently, the efficiency brought by automation is promising, challenges loom, especially in a country with a vast and diverse workforce like India. Traditional roles, particularly those involving repetitive tasks, are at risk of displacement.
Let us take the example of call centers, once bustling with human agents, now facing the encroachment of AI-driven chatbots.
The advent of digital payment platforms has reduced footfall in bank branches, impacting traditional bank teller roles. Even the transport industry faces potential disruption as India explores smart cities and autonomous vehicles.
However, history attests to human adaptability. Just as the Industrial Revolution led to the creation of new professions, India’s wave of automation promises novel roles and industries yet unexplored.
The writing was on the wall
Denying the impact of automation earlier was like the proverbial Ostrich sticking its head in the sand to escape its surroundings. The government of India has been preparing for the upheaval since 2018. A NITI Ayog report, “National Strategy for Artificial Intelligence,” charted the course of the future. Cut to 2024, and we are facing the storm.
A National Association of Software and Service Companies (NASCOM) study in the report’s section on skilling for the AI age predicted that by 2022, a stunning 46 percent of the Indian workforce will be engaged in wholly new jobs that did not exist in 2018 or jobs with fundamentally transformed skill sets.
According to the 2018 NITI Ayog study, demand for AI and machine learning specialists in India was expected to increase by 60 percent that same year. Independent data research also indicated that India would have a demand-supply mismatch of 2,00,000 data analytics specialists by 2020.
Despite concerns about job displacement, experts in the area say that little was done to upskill both entry-level and existing workforces to deal with the current problem.
The light at the end of the tunnel
In this rapidly evolving landscape, upskilling is imperative for India’s talent pool to remain globally competitive. The Ministry of Electronics and Information Technology (MeitY) and NASSCOM’s FutureSkills Prime initiative aims to alleviate talent shortages and provide training in cutting-edge technologies. However, there is still more to be done.
To combat the employment displacement caused by AI, industry and academia must work together to close the skills gap. The finest thing is that the chance exists within the problem itself. The advent of automation in India also catalyzes innovation and new opportunities.
The Ministry of Electronics and Information Technology (MeitY) projects substantial economic growth, potentially generating 60-65 million jobs in the digital economy by 2025.
Meanwhile, NASSCOM identifies growing demand in emerging fields like quantum computing, blockchain development, and augmented reality design. While machines excel at quantitative tasks, skills like empathy, creativity, and intricate problem-solving remain uniquely human, creating demand for such professions.
According to NASSCOM projections, the digital talent gap in India will increase to 28-29 percent by 2028, up from 25 percent today. The 2.8x rise will demand more than 6 million digital talents in the coming days. The chance for India has arrived, and we must focus on developing a future-ready workforce.
The figures show that automation in India’s labor economy is not a threat but an opportunity for adaptability. Embracing change, upskilling, and investigating novel training approaches are critical for success in this dynamic environment.
As we stand at the crossroads of automation and human potential, the journey ahead requires a ready attitude. The work landscape is changing, and with the correct strategy, it provides a wealth of opportunity and promise to those prepared to navigate the market’s shifting currents.
