By Harkunwar Singh
Global digitisation has ignited progressive shifts in the industrial landscape. This is the era of Industry 4.0, marked by technological innovations and digital solutions that make it very fast-paced and dynamic. It thrives on using technology that improves the quality of the industrial process and the product. This wave of change in the industry means a need for future-ready talent that can perform efficiently in this new technological environment. As per a recent report by TeamLease, India will require a whopping 30 million digitally competent workers by 2026. Acquiring digital competency skills becomes crucial to achieving relevance in today’s technical job market.
As technology advances at an unprecedented rate, it impacts the relationship of different skill sets to the needs and structures of the market. The value and marketability of skills reduce over time as simultaneous developments affect the demand for said skills in employment. This leads to the reduction of the importance of skill by half over time. A report by the World Economic Forum suggests that in 2017, this half-life of skill was five years- which is reducing rapidly. To overcome this challenge of employability and remain contextual in the competitive arena, it is crucial to develop and improve on marketable skills from time to time. Education and skill training can be critical in creating and acquiring targeted and relevant skills.
As Industry 4.0 evolves rapidly, professionals must adapt by retooling their skill sets to stay relevant. It is estimated that integrating skill-based education, guided by competent and skilled teachers, will enable 250+ million of India’s youth to thrive as innovative thinkers, problem solvers, and leaders in a rapidly evolving global landscape. And so, overcoming the challenges of the half-life of skills in the current economic structure is crucial.
The role of ed-tech companies in shaping future-ready talent
EdTech companies are leveraging technology and innovative approaches to address the gaps in traditional education systems to support the rising need. We live in a time and age when the value of a traditional degree has significantly diminished, going from a 30-year relevance to just three years. Edtech platforms are enabling the following:
User-focused learning:
Ed-tech enables customised learning opportunities catering to the unique learning needs of users, focusing on the user as opposed to a one-size-fits-all approach while also providing global exposure and a multitude of possibilities. It naturally leads to further inroads in placements and job opportunities. Unlike traditional classroom settings, it is not bound by four walls.
Gamified learning:
Gamified learning makes for a more engaging experience. Integrating game-based structures, or ‘gamification’, is an exciting trend. Gaming structures, like competition, scoring of points, achieving set targets, and score tables, among others, are incorporated into lessons and learning. It creates an environment of interest and fun commonly associated with games and encourages students to apply critical thinking and creative skills in real-time. It has been found that such gamification in the classroom can increase retention by up to 90% and completion of tasks by nearly 300 per cent compared to traditional teaching methods.
Updated Curriculum:
Edtech curriculum enables transition quickly with a capability to walk in pace with the industry needs. It can offer a quick turnaround and transition course curriculum within a three to six-month period.
10-20-70% rule in Education:
Education runs in the 10-20-70% rule. Individuals learn 10% from coursework and training, 20% from developmental relationships such as peer learning, and 70% of learning happens from confronting challenging experiences and assignments. Edtech enables all three parts of education by providing access to coursework, peer learning, and practical challenges.
Curriculum 2.0: India’s Leap into a Skill-Fueled Future
Globally, 22% of the workforce over the next three decades is expected to come from India. This demographic trend presents both an opportunity and a challenge for the employment landscape. However, by prioritising skill-based education, the Indian education system can equip this burgeoning workforce with the necessary competencies to excel in the national and global job markets. Individuals are exposed to lucrative career growth opportunities due to enhanced skill sets and multiple possibilities. Particularly in the AEC industry, it is an absolute must.
Architecture students are still learning about labour-intensive construction techniques in the age of 3D printing, precasting, and digital fabrication. Additionally, with the National Education Policy (NEP) 2020 emphasising the importance of a holistic and inclusive education system, India can strive towards becoming a global knowledge power.
The future of the Indian education system holds promise for creating a skilled and adaptable workforce. Edutech platforms can help to spearhead this process with their innovative and decentralised approach to learning. With progressive policies that focus on skill-based learning early on in schools, we are looking at a cohort of holistic, new-age learners who are not only armed with relevant skills for the changing workplaces of the future but are resilient leaders ready to take on the challenges of the ever-evolving world. It helps build a strong network of working professionals while getting an opportunity to learn and succeed in their career trajectory.
The author is CEO and Co-Founder of Novatr. Views are personal.