The rise of cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning (ML) has sparked a mix of enthusiasm and worry among working professionals and job seekers in India. This technological wave brings forth both opportunities and challenges, prompting a pressing need for professionals to reevaluate and augment their skill sets. An alarming 82% of professionals are concerned about their job roles becoming redundant or obsolete in the next five years due to the adoption of these transformative technologies.
To shed light on these evolving dynamics, Hero Vired, a prominent entity in the field, has released a comprehensive report titled ‘Future of the Skills Landscape 2024.’ This report unravels jaw-dropping insights into the dynamic skill sets that will shape the future job market in India, providing a roadmap for professionals aiming to navigate the ever-evolving terrain effectively.
The survey data paints a compelling picture of an agile and swiftly evolving job ecosystem. Nealy half, or 48.65%, of respondents described their industry as “Dynamic,” while 39.19% labelled it as “Extremely Dynamic.” This collective sentiment underscores a unanimous acknowledgement of a swiftly evolving job ecosystem. Almost every respondent, representing diverse sectors, recognizes and affirms the swift pace at which their industries are advancing.
AI on the Rise: The Skills of Tomorrow
A whopping 90.12%% of the survey respondents have pinpointed AI as the most in-demand skill in the next five years. Within this majority, 80% envision AI-related jobs offering the highest salaries during this period. This reflects a collective recognition of the significant demand and lucrative potential in technology-related fields.
- Following AI, Cybersecurity (52.91%) and Data Analysis (63.37%) emerge as key skills that professionals anticipate will be in high demand.
- Machine Learning (48.84%) and Coding (40.70%) are identified as the most in-demand emerging technology skills in the next five years, while Web and Application Development (30.23%) and Extended Reality (28.49%) also show notable relevance.
- In terms of specialized tech skills, AI Engineering (68.02%), Data Science (45.35%), and Cyber Security Engineering (43.60%) are predicted to be the most sought-after in the next five years.
- Beyond the technology world, the survey sheds light on non-tech skills that are anticipated to be in demand. Digital Marketing Managers (48.26%), Green Jobs (39.53%), and Mental Health Coaches (38.37%) stand out as essential non-tech skills for the coming years.
The above insights highlight the shifting tides of demand across both tech and non-tech domains, underscoring a heightened emphasis on AI-centric roles, data-driven professions, and the burgeoning importance of sectors such as digital marketing, sustainability, and mental well-being.
Upskilling as a Strategic Imperative
Working professionals are increasingly recognising the imperative of upskilling to foster growth in India’s rapidly evolving tech sector and safeguard current employment opportunities.
A significant 77.8% of respondents are poised to embrace upskilling as a proactive strategy, underscoring a prevalent belief in the transformative power of AI upskilling for enhancing job prospects.
Nearly half, 47.52%, of professionals view upskilling not only as beneficial but as a necessity, envisioning a spectrum of advantages. These benefits include the prospect of a 2X salary raise, increased professional visibility, smooth transitions into new roles, and an expedited trajectory of professional growth. This comprehensive perspective highlights the diverse and holistic advantages that professionals associate with acquiring new skills.
Beyond the broad consensus on the necessity of upskilling, individual opinions further highlight the positive impact of continuous skill development on various career aspects. A significant 19.86% express a specific focus on faster professional growth, recognizing the correlation between ongoing skill enhancement and career advancement. Additionally, 10.64% prioritize standing out in the competitive professional landscape, emphasizing the role of distinct skills in setting individuals apart. Furthermore, 9.93% emphasize the potential for better job opportunities through continuous skill development, showcasing a collective recognition of the multifaceted benefits that stem from staying current with evolving skill sets.
Interestingly, among the female respondents, a significant 75.6% affirm that upskilling plays a pivotal role in easing their re-entry into the workforce after a career break.
Despite the optimism surrounding the potential benefits of upskilling, the survey respondents did not overlook the challenges inherent in pursuing such educational avenues. Notably, a majority of respondents pinpointed two primary barriers: a perceived lack of time and reservations regarding the efficacy of skilling programs.
However, these challenges do not diminish the overall faith in the transformative power of upskilling. A robust 82.71% of respondents maintain a strong belief that acquiring skills in Artificial Intelligence (AI) can open doors to more job opportunities.
The survey sample offers a comprehensive snapshot of the workforce, with a majority of 81.04% being working professionals and 7.44% actively on the lookout for job opportunities. This diverse representation spans various industries and roles, providing a nuanced understanding of current sentiments and aspirations within the professional realm.
The advent of Artificial Intelligence (AI) and automation is reshaping the very fabric of the Indian workforce, ushering in both unprecedented opportunities and challenges. While concerns around job displacement are valid, the focus should shift towards embracing upskilling as a means to not only mitigate risks but also unlock new opportunities.
The “Future of the Skills Landscape 2024” report paints a clear picture of the changing landscape and the skills in demand. It’s time for employees and organizations to adapt, learn, and thrive in this dynamic new tech sector.
