Year 2020: The year to reskill yourself

Published: January 20, 2020 12:25 AM

A McKinsey survey reveals data-driven organisations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable.

ai, artificial intelligenceRPA, artificial intelligence, data analytics are reshaping how organisations do business

By Lakshmi Mittra

This year will witness organisations placing greater emphasis on transparency, agility, culture and purpose-driven leadership. As per a recent study, 54% of the world’s workforce will need reskilling and upskilling by 2022. Some of the key reskilling trends of 2020 are:

Emerging technologies: RPA, artificial intelligence, data analytics are reshaping how organisations do business, engage with customers, and manage their operations. Gartner predicts 70% of organisations will integrate AI to assist employee productivity by 2021. So, there is a pressing need for global businesses to focus on future skills and talent management.

Data-driven culture: A McKinsey survey reveals data-driven organisations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable. This year will witness enterprises integrating data and analytics in business strategy.

Reskill: As new-age technologies are disrupting traditional business models, employees need to reskill themselves to stay productive and relevant. Reskilling doesn’t always mean going back to college. Instead, one can benefit from company-run training programmes also. But where options aren’t easily available, employees must be proactive and take steps towards reskilling themselves.

The author is head, Clover Academy

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