It is believed that the integration of Artificial Intelligence and automation would result in extensive unemployment. Contrary to this notion, the ‘Future of Jobs’ report, published by the World Economic Forum (with TCS as a strategic partner), anticipates the creation of 12 million more jobs through AI by 2025 than the number displaced. In fact, only those individuals who failed to embrace new skills and adjust to the constantly changing demands of the job market lost jobs. From computers and software to the Internet and now AI, these advancements have consistently generated more employment opportunities, Sumit Kumar, chief strategy officer, TeamLease Degree Apprenticeship, told FE Education. “Industries within the manufacturing sector is expected to benefit the most from the job expansion driven by AI including supply chain, quality control, market predictability, customer service and sales,” he said.
Amid technological advancements, a substantial 82% of employed individuals expressed concern about the potential obsolescence of their roles, as revealed in the ‘Future of the Skills Landscape 2024’ report. The report emphasised the growing apprehension within India’s workforce regarding the looming threat of job displacement due to advancing technology, underscoring the need for continuous reskilling. “Continuous reskilling and upskilling are essential for preparing the current workforce. It is imperative for both livelihood and employability to invest in these practices consistently. While organisations must focus on talent development, individuals bear the responsibility of continually upgrading their skill sets to stay employable,” Kumar said.
Additionally, NASSCOM has introduced programmes aligned with roles and skill competencies, considering jobs of the future. Successful programme execution requires collaboration between the industry and academia. Furthermore, the government, through the Skill India mission led by NSDC, is promoting digital literacy to address skill creation in AI and related technologies, he said while responding to a query regarding the collaborative efforts between industries, academia and government bodies are being undertaken to facilitate the positive impact of AI on job creation.
As of August 2023, the AI professional count stood at 4.16 lakh in India, ready to address the rising demand projected to hit one million by 2026. India faces a substantial 60-73% demand-supply gap in critical positions like Machine Learning (ML) engineer, data scientist, DevOps engineer and data architect, according to ‘India Skills Report 2024’. “These job opportunities will encompass a variety of roles, spanning both technical and non-technical realms, across diverse functions and domains. Sectors such as healthcare, retail, BFSI, logistics and supply chain management and manufacturing will see a mix of entry-level and advanced AI positions, exerting both direct and indirect influences on the industry,” Kumar explained.
