AI makes the life’s of employees more complicated
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Last year, the World Economic Forum’s ‘Future of Jobs’ report had predicted that artificial intelligence and robotics would take over more than 5 million jobs by 2020. The report noted that “some jobs will be wiped out, others will be in high demand, but all in all, around 5 million jobs will be lost.”
Having the right skill set is key
In addition to robots taking over, the increasingly competitive job market is making the lives of employees no easier. The dynamics have changed considerably—just a college degree no longer guarantees a job. This is because the rapidly advancing technology has transformed many jobs and the sought-after skills for professional success. To cope with the current workforce’s needs and culture, employers are seeking employees who are skilled in artificial intelligence, robotics, and Big Data. And it’s not just artificial intelligence and engineering skills that are in-demand these days. With businesses going global and dealings with international clients becoming a norm, soft skills are more important than ever for potential employees.
Education provided differs from market needs
According to the findings of the SEED Report 2016 (Student Enrichment and Employment Development), the employment scenario has changed for the better, but the curriculum continues to lag behind. Although a lot has changed regarding market trends and technology, the education system needs updating. Most college curricula are still not equipped enough to teach in-demand, job-ready skills. Aspiring Minds, the country’s leading employability solutions company, recently conducted a survey and the numbers reveal that India has almost 800’000 engineering diploma holders who enter the job market every year and only about 20% of them are employable. A report by Assocham presents that of the 100’000s of business graduates produced every year from over 5,500 business schools in India, only 7% are employable. This ascertains the fact that there is a major gap between learners, potential employees, and employers […]