CEO speaks: Upskilling for the future
As we step into 2024, a confluence of global and local factors is shaping the choices students make in their pursuit of knowledge and employability. The dynamics of the job market are evolving at an unprecedented pace, driven primarily by technological advancements. Here are some career options that students should consider in this emerging landscape while considering the major trends that will shape the professional world over the next five years.
The Future of Jobs Report 2023, published by the World Economic Forum (WEF), provides very interesting perspectives on the future of the job market. While the 2023 report does state that the rate of business-related task automation shall be slower than anticipated, it makes it very clear that 75% of all companies surveyed remain committed to adopting various modes of automation into their businesses. As per their estimates, 42% of business tasks will be automated by 2027. More specifically the prediction is that 35% of reasoning and decision-making to 65% of information and data processing roles shall be automated soon.
There is no doubt that over the next five years, the pervasive integration of Artificial Intelligence (AI) into various industries is poised to reshape the job market significantly. Repetitive and routine tasks, particularly those involving manual labour and data processing, are likely to be automated, leading to a decline in demand for jobs traditionally associated with these functions. However, the transformative nature of AI is also anticipated to create new opportunities, giving rise to jobs that require creativity, critical thinking, and emotional intelligence — areas where human capabilities currently outshine machines and shall continue to do so in the foreseeable future. The workforce of the future will need to adapt by acquiring skills that complement AI technologies, focusing on roles that demand uniquely human attributes, such as complex problem-solving and interpersonal communication.
The winds of change blowing through India’s education system with the implementation of the National Education Policy (NEP), 2020 as well as various guidelines from the University Grants Commission (UGC) are fortuitous in their timing. The emphasis on interdisciplinary learning, skill development, and a holistic approach is set to revolutionise undergraduate education.
As students gear up for the future, courses that blend technology, creativity, and critical thinking are expected to take centre stage. If we look at the trends in admissions, traditional favourites such as core engineering seem to be taking a back seat. More diverse and assimilative courses are gaining popularity. It is my firm belief that courses that blend technology yet complement machine capabilities shall become increasingly popular. Healthcare, nursing and associated disciplines shall continue to grow. So shall the requirement for diverse skill sets such as business administration, psychology, law, computer applications, data science, statistics, journalism and communication, graphics and animation, digital marketing, biotechnology, hospitality, dietetics, sustainable energy and related fields. The world economy shall pay a premium for students who can seamlessly blend soft skills and critical thinking with high adaptability to technology in their respective fields.
While it’s challenging to predict the future with absolute certainty, some choices that shall flourish in the next five years shall be:
Environmental Scientists and Specialists: With a growing emphasis on sustainability, professionals who can address environmental challenges and promote sustainable practices will be sought after.
Renewable Energy Technicians: As the world transitions towards cleaner energy sources, technicians in the renewable energy sector will be in demand.
Artificial Intelligence and Machine Learning Specialists: With the increasing integration of AI and machine learning in various industries, specialists in these fields will be in high demand for developing and implementing advanced technologies.
Cybersecurity Analysts: As cyber threats become more sophisticated, the demand for experts in cybersecurity is expected to rise.
Data Scientists and Analysts: The ability to derive insights from vast amounts of data is crucial for businesses. Data scientists and analysts will continue to be in high demand across industries.
Healthcare Professionals: Doctors, nurses, and other healthcare professionals will continue to be in demand, especially with the global focus on public health in the wake of recent events.
E-commerce Specialists and Digital Marketing Experts: The rise of online shopping and digital transactions will create demand for professionals who can navigate the e-commerce landscape.
Robotics Engineers: Industries are increasingly adopting robotics and automation. Engineers who can design, implement, and maintain robotic systems will be in demand.
Emotional Intelligence Coaches: With a growing awareness of the importance of mental health, coaches who specialise in emotional intelligence and well-being will be sought after.
Soft Skills Trainers: Professionals who can train others in essential soft skills like communication, adaptability, and teamwork will be valuable in the evolving job market.
This is by no means an exhaustive list but I strongly believe that this shall be the trend to look out for!
Looking beyond our borders, major economies such as Japan and the USA are grappling with skilled labour shortages. As these nations seek to fill the gaps, Indian students who strategically plan their educational journey can position themselves as global contributors. The NEP internationalisation focus is designed with this in mind — to create global workers from India on a sustained basis.
The future belongs to those who are agile, adaptable, and forward-thinking. By choosing courses aligned with emerging trends, honing both technical and soft skills, students can plan and embark on a journey that not only makes them job-ready but also positions them as leaders in the ever-evolving global workforce. The opportunities are vast, and the time to seize them is now. Let the choices that you make today be wise and well-informed!
Dr Sanku Bose, Group CEO (Techno India Group)
