India has a chance to become the world’s digital talent hub in an evolving technology environment. By 2025, the demand for expertise in advanced technologies like AI, robots, and data science will be 20 times larger than the supply. This creates enormous opportunities, since technology is now incorporated into every area of our lives. The way countries accept and use technology is becoming increasingly important to national economies.
In India, digital skills and AI are already assisting in the rapid transformation of core sectors such as healthcare, citizen services, MSME, agriculture, and manufacturing. These skills are also helping in the creation of a trustworthy and secure environment to promote innovations. In a digital age, trust is essential, and organizations will require trustworthy digital and data ecosystems to continue to expand securely.
Strategies adopted throughout the world
The battle to become and be seen as a digital skill hub is heating up worldwide. For example, the UAE has announced intentions to increase eligibility for golden visas and attract top tech employees to make the nation the preferred investment centre for technology businesses.
Several other nations, including the United Kingdom, the United States, and Australia, are reconsidering initiatives such as expediting visas for at-risk industries and promoting visas for highly accomplished candidates. Digital talent originates from a digital-first mindset, which, according to a Capgemini poll, includes hard digital abilities like data analytics and soft skills like storytelling.
How is India doing?
India has strengthened its place in the digital era by adopting the following skills.
- Apply the National Education Policy: Continuous learning, skill credits, world-class academic innovation, experiential learning, and faculty development focus on quality and outcomes.
- Women’s empowerment: Encouraging more women to participate in the work stream with mixed work standards. Reforming industrial training institutes and polytechnics’ vocational education.
- Encourage skill development: In the initial periods of the computer sector, tax breaks are essential in assisting multinational corporations in establishing a global presence in India. India has developed programs that promote business skilling not only for their purposes but for the benefit of the entire ecosystem.
- Research innovative learning methods: Using retraining programs on a large scale, not just for a certificate but also for evaluations. India is also investing in creating world-class free information that can be used by anybody and is connected with a reputable certification system. It is considering methods to increase home-grown talent and plans to recruit the greatest global talent to catalyse the skills for the next era of growth and innovation.
Effect of the pandemic in India
We live in a hyper-digital, contactless environment, which will continue for some time. And technology has been a lifeline, particularly in the field of education. Technology is only a tool; much relies on how we employ it. The epidemic has taught us that the world will be a combination of humans and technology, each having a role to perform. The difficulty is comprehending people’s functions, which will require a considerable shift in skills, perspective, and attitudes. We’ll have to adjust to this new digital environment.
The pandemic has accelerated digital business transformation, generating significant opportunities for all firms. Given the customer-centricity of the Indian IT industry, the demand climate is highly favourable, and several businesses have stated that they want to grow by double digits this fiscal year. The last time the digital industry increased by more than 10% was in 2015-16. Its compound annual growth rate (CAGR) from then until 2020-21 was 7%, while its headcount growth rate was 5%.
A global market potential
The greatest opportunity for India is to build digital talent for the future world. We are going to be among the world’s most talented leaders. India’s greatest competitive edge will be its workforce. Businesses will go where the talent is, and their investment decisions will be based on that.
People-led innovation may help India change the rules of the game. We can tackle the numerous crises if we look at innovation as more than just another technological tool but a problem solver. Artificial intelligence is one subject that will rule the tech world. India can lead the way in thinking about how to create and utilize technology responsibly.
As a result, we can claim India to be a Digital Skills hub for the world and create more opportunities for our skilled citizens. Creating a healthy digital talent ecosystem would allow us to be more future-ready and capitalize on the prospects of a digital future.
(The writer is Chairman & Global CEO of C Ahead)