M.S.Yatnatti Editor Property Politics
by Admin User - Monday, 10 January 2022, 12:10 PM

By: M.S.Yatnatti: Editor and Video Journalist Bengaluru: In today’s world, multiple qualifications sometimes do not fetch you a dream job, but skill-based courses can. However, the dilemma over skills versus degrees happens all over the world as companies prefer skill certifications over degrees. Nasscom instead of predicting that automation would result in a 20%-25% reduction in IT jobs in three years should spend time and money on predicting new jobs and new skill sets are created by Automation and the growth of technologies like artificial intelligence (AI)  . Reportedly IT Services companies will lay off 6 lakhs jobs in coming 3 years and few experts predict worse situation .but few experts opine that any amount of automation machination and artificial intelligence and e-commerce cannot replace humans . However, this environment is providing a big opportunity for lakhs of white-collared professionals to move out of their comfort zones and up skill themselves to remain employable .Automation and digital transformation has created an adapt-or-perish scenario. It's an alarming reminder that re-skilling is the only way out to be relevant.The situations will be created such way that new job descriptions will emerge in new situations ill create new jobs .Few skill sets become obsolete but new skill sets replace them to fill the gaps. In news papers both types of news reports appear .one news is about “bemoaning the lack of job creation in the IT industry” and news is an advertisement looking for UX/UI designers, full stack web developers, data scientists, data visualisers and Java coders .Automation and the growth of technologies like artificial intelligence (AI) are resulting in a better, safer and more efficient world. Investments in automation are pouring in. McKinsey estimates that tech giants worldwide spent anywhere between $20-30 billion on AI in 2016...Interestingly, one of the key drivers of these spends is the falling cost of capital. The unit cost of capital has dropped to less than 0.6 times the unit cost of labour. This amounts to a 16x drop from the unit cost of labour in the early 1980s. This imbalance is flooding research in AI and robotics with money. These technologies will rewrite global competition, wealth generation and employment. Already the warning bells in job markets are ringing. By 2033, says one World Bank Development Report, automation will put 47% of current US jobs at risk. Corresponding figures for other nations are 77% for China, 69% for India and 65% for Argentina.These estimates are for direct job loss. The real numbers will be several times larger. For example, autonomous cars will result in direct job losses for drivers of taxis, trucks and buses. But autonomous cars will be programmed to adhere to local laws, and the size of the traffic police force can shrink substantially. In India, we must brace for the impact of these trends. Amongst the most severely affected will be the IT industry. Nasscom predicted that automation would result in a 20%-25% reduction in IT jobs in three years. The impact will be serious across sectors from e-commerce to manufacturing, security services, banking and agriculture. Labour intensive industries will become the first targets of automation.This advertisement strongly validates that what we have been seeing around us for some time now is in today's digital age, consumers and business are now embedded in technology. And more technology means more jobs. Not less. Besides, technology is a great leveler. It recognizes no caste, creed or colour. Just consumers and competence. IT companies need to recruit the recruiters and partner with Job positions for data scientists, software architects, data engineers, UI (user interface) and UX (user experience) are the most difficult to fill for companies. The number of active candidates present for these roles is less than half the demand. These niche positions are popular across industries, but the majority of the demand comes from the IT sector, according to few recruitment firms surveys .small and effective search firms / recruiting or staffing agencies / recruiting vendors if they want to be super successful .A study by IT expert in recruitment process outsourcing shows that the recruitment industry is going through a crunch of 200 professionals every day. IT companies need to Build the militia for the warfare. Simultaneously, build the army," is the advice of , Lead, HR and Recruiting, experts in India, for young HR managers. The `War for Talent is a reality ,and it need to handle the problem of the growing lacuna in HR talent, particularly recruiters, in the country. It's clear India does not have enough HR horsepower to handle the needs of the IT/ITES (IT-enabled services) industry. These sectors in the country, expected to employ about two million people by 2018, i.e, double the number of people they employ today, will predictably suffer from a severe shortage of competent HR talent soon. According to industry estimates, in the people's business, for every 50-75 person recruited, one HR job gets created. This roughly translates into a demand for 40,000 people skilled in the HR area for the tech sector alone in the next three years. This excludes the needs of other booming sectors such as retail, telecom, textiles and the recruitment industry itself, which needs as many people.Reportedly Indian investment in tech is only set to rise with number of initiatives like Digital India, which the government estimates will swell to $1trillion by 2024, up from $270 billion today. Today, India's technology investment as a percentage of GDP is well below 1%, compared to a global average of 2.5-3%. With Digital India, technology investments will accelerate significantly and this will generate new employment and many new microentrepreneurship opportunities. IT companies need to spend their energy in creating a new learning culture so that they can train more people to use software as a tool, more people who can create must-have applications, or build insights from analytics, or create smart visualisations, or even train computers to behave more intelligently. Companies have to create micro-entrepreneurs who can use technology-abled skills to provide digital services to rural and semi-urban India. Job growth in such a scenario will never be a concern. This is time to re-imagin and recalibrate and succeed .