$1.97 trillion growth at risk in India due to the Skills Gap
India may have to forgo nearly $1.97 trillion in GDP (Gross Domestic Product) growth, promised by the investment in intelligent technologies, over the next decade if the country fails to bridge the skill gap, according to a new report from Accenture.
According to the report “Fueling India’s Skill Revolution”, Advanced Technologies such as Artificial Intelligence (AI), Augmented/Virtual Reality (AR/VR) and Blockchain can enable rapid reskilling and upskilling in a large scale. As these technologies can help people learn new skills quickly, efficiently and cost-effectively.
The current education system in place is essentially conventionally traditional teaching and learning, and no on-the-job training. This Classroom-teaching approach does not develop human skills like complex reasoning, creativity, empathy, socio-emotional and sensory perception, ethical judgment in students which is a necessity with the advancing Intelligent technologies.
The report also includes a framework that combines a suite of innovative learning methods grounded in neuroscience research to increase efficiency in skill learning. This framework dictates that the learning journey of an individual can be augmented by a combination of these digital technologies. For instance, AI can help in content curation and dissemination to ensure that students are aware of the skills they need. Further, AI-based adaptive programme can tailor learning to individual needs.
Similarly, AR/VR can enable immersive training to make people job-ready and blockchain can help individuals stay on the path to lifelong learning and deepen their expertise.
Therefore, all shareholders in India, government or corporate, need to collaborate with educational institutes and adapt the curriculum to broader needs of the digital economy and skill-based learning, in schools as well as colleges.
With Accenture releasing a report predicting the doom of Indian GDP growth owing to the prevalent skill gap, we thought it would be only fair to give you the predicament with a bit of silver lining. No wonder, the traditional classroom teaching and learning approach pre-existing in the country are to blame for the fast-approaching doom’s day but dwelling on it for long isn’t productive in any scale. Hence we came up with a list of skills you could build-on to stay relevant in the contemporary job market. Despite popular belief, skills can be gained or improved upon with practice or short-term training.
So, here is the list of skills you could start working on right away to stay at the top of your game.
Strengthen your Soft Skills, especially with AI on the rise human-to-human conversation could win you a job.
- Time Management
Employers want to hire candidates with the skill sets to remain abreast and up-to-date, with the digital future looming over us.
- Cloud Computing
- Artificial Intelligence
- Analytical Reasoning
- People Management
- UX Design