The demand for knowledge in cutting-edge fields like artificial intelligence, robotics, and data science will outpace the supply by 2025 by a factor of 20.
“There is a big chance to establish India as a worldwide digital powerhouse for data and artificial intelligence (AI), allowing investment, jobs, and innovation,” claims Anant Maheshwari, president of Microsoft India.
In a rapidly changing technological environment, India has an opportunity to emerge as the global powerhouse for digital talent. The demand for knowledge in cutting-edge fields like artificial intelligence, robotics, and data science will outpace the supply by 2025 by a factor of 20. Since technology is now intertwined into every aspect of our life, this opens up several opportunities. The adoption and application of technology is becoming more crucial to national economies.
AI and digital skills are already accelerating the transformation of India’s core industries, including manufacturing, healthcare, MSME, government services, and agriculture. These abilities are also assisting in the development of a secure and reliable environment that supports innovation. In the digital age, trust is crucial, and businesses will need reliable digital and data ecosystems if they want to grow safely.
Various tactics are used around the world
Global competition to establish oneself as a hub for digital skills is escalating. For instance, the UAE has stated plans to expand who is eligible for golden visas and recruit the best digital talent to make the country the preferred investment destination for technology enterprises.
Other countries, like the United States, Australia, and the United Kingdom, are rethinking policies like encouraging visas for highly talented individuals and accelerating visas for at-risk industries. A survey by Capgemini found that a digital-first attitude encompasses both soft talents like storytelling and hard technology abilities like data analytics.
India: How is it doing?
India’s position in the digital age has improved thanks to the adoption of the following abilities.
Incorporate the National Education Policy: The emphasis on quality and outcomes is emphasised by skill credits, world-class academic innovation, experiential learning, and faculty development.
Empowering women: promoting the involvement of more women in the work stream with diverse work standards. reforming polytechnics’ vocational education and industrial training centres.
Promote the development of skills Tax advantages are crucial in helping multinational firms develop a global presence in India during the early stages of the computer sector. India has devised initiatives that promote corporate skilling not only for their needs but for the benefit of the entire ecosystem.
Investigate novel teaching strategies, such as the extensive use of retraining programmes that serve both certification and evaluation purposes. India is also making investments in producing top-notch free knowledge that is accessible to everyone and linked to a reliable certification system. In order to develop the abilities necessary for the upcoming period of growth and innovation, it is thinking about ways to develop its own internal talent as well as plans to hire the best global talent.
Indian pandemic’s effects
We will continue to live in a hyper-digital, contactless world for a while. Additionally, technology has saved many lives, especially in the sphere of education. Technology is merely a tool, and how we use it determines a lot. The pandemic has taught us that humanity and technology will coexist on Earth, with each having a certain function to play. Understanding people’s functions is challenging since it requires a significant change in abilities, viewpoints, and attitudes. To this new digital environment, we must adapt.
The epidemic has expedited the shift to digital business, creating substantial potential for all businesses. The demand environment is very favourable, and many companies have declared that they want to grow by double digits this fiscal year due to the customer-centricity of the Indian IT industry. In 2015–16, the last time the digital sector grew by more than 10%. Between that time and 2020–21, its CAGR was 7%, while the growth rate of its headcount was 5%.
Potential market size worldwide
The best chance India has is to develop digital skills for the future. We’re going to have some of the best leaders in the world. India’s workers will be its biggest competitive advantage. Businesses will place their investments based on where the talent is located.
India may modify the game’s rules with the aid of innovation driven by the people. If we view innovation as a problem solver rather than just another technology tool, we can address the many crises. One topic that will govern the tech industry is artificial intelligence. India can set the bar high on how to sustainably produce and use technology.
As a result, we can position India as a global hub for digital skills and offer our skilled residents additional possibilities. We might become more future-ready and take advantage of the opportunities presented by a digital future by developing a strong ecosystem for digital talent.
(The author is C Ahead’s Chairman and Global CEO).