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Edtech leading reskilling across organisations with new-age solutions

According to a global Gartner study, 58 per cent of the workforce needs new skills to execute their tasks.

Edtech leading reskilling across organisations with new-age solutions
Due to COVID-19 and the business disruption it brought, the skills gap is even more stark.

By Anish Srikrishna 

Working professionals could seldom fathom a significant career progression across various job roles due to limited upskilling opportunities and accessibility to institutions delivering higher education programmes. With rapid advancements in technology and an ever-evolving business environment, organisations have also started to face skill gaps.

A McKinsey study conducted in 2020 revealed that nearly nine in ten executives and managers believe their organisations face skill gaps already or expected gaps to develop within the next five years. Due to COVID-19 and the business disruption it brought, the skills gap is even more stark. 

As emerging technologies like blockchain, Web 3.0, Internet of Things (IoT), Artificial Intelligence and Machine Learning are getting integrated across organisations, the need for reskilling is now dire and greater than ever. More so, the inability to get our workforce timely updated to relevant skillsets could hamper their career progression and lead to a rise of a technologically under-literate working population.

According to a global Gartner study, 58 per cent of the workforce needs new skills to execute their tasks. Since 2017, the total number of skills required for a single job has been increasing by 10 per cent year-over-year. Furthermore, one in three skills in an average 2017 job posting in IT, finance or sales are already obsolete — just five years later. 

India has a median age of only 28.4 years and a large part of its population is aged between 18 and 35 years. Yet, according to the World Economic Forum, of the 13 million people who join India’s workforce each year, only one in four management professionals, one in five engineers, and one in 10 graduates are employable. 

However, the burgeoning Higher Edtech or H.Edtech industry has now made it possible for professionals across industries to get access to future-centric learning solutions and executive education learning empowering them with skills to be job-ready, without having to take an extended break from their existing roles. Edtech has brought a shift in learning that is compatible and customised to the learner’s needs by addressing modern day challenges.

In a tech-dominated landscape, e-learning platforms with relevant, future-ready skill-building courses can help alleviate the fear of obsoletion by bringing about a perspective shift about technology. In fact, in the Future of Jobs 2022 report, the World Economic Forum predicts Data Analysts and Scientists, AI and Machine Learning Specialists and Big Data Specialists to have significant demand across organisations. In addition, according to an Indeed 2022 job report, the jump in job postings for cryptocurrency, blockchain, and NFTs has gone up a staggering 804 per cent between April 2020 to April 2022.

With strategic academia and industry partnerships, edtech platforms are uniquely positioned to provide best-in-class education to learners to cater to their needs across the different phases of their career, whether it be to equip them with skills to kickstart their career or help mid / senior executives to upskill and transform their careers for the better.

At a time when active internet users in India are projected to reach the 900 million by 2025, online education can make learning more accessible, especially where geographical or physical barriers make career development difficult. New-age upskilling in emerging technologies can empower learners to constantly evolve at every stage of their career and help organizations keep abreast with technological advancements. 

To remain relevant and competitive, students and professionals must think of learning as an investment in themselves which is a continuous, dynamic, and a never-ending process. 

The author is CEO of TimesPro.

Also Read: Meghnad Desai Academy for Economics announces to introduce ESG elective under PG diploma programme

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First published on: 10-12-2022 at 10:00:00 am