Accenture’s report titled “Fueling India’s Skill Revolution” has highlighted that if India fails to bridge the skill gap of its workforce, as much as $1.97 trillion would be invested in GDP growth, as promised by investment technology companies in India over the next decade.
As indicated by the report, the nation needs to use cutting edge innovations, for example, Artificial Intelligence, augmented/virtual reality (AR/VR) and Blockchain to permit quick re-skilling and up-skilling at scale. These new advancements can help learn new aptitudes rapidly, proficiently and in a savvy way.
The report explicitly specifies that abilities like complex thinking, innovativeness and socio-emotional and tangible discernment cannot be taught by utilizing the conventional teaching methods and need to rely on new-age technology.
Rekha M Menon, Chairman and Senior Managing Director at Accenture in India, is of the opinion that as employees’ jobs are transformed, more experiential on-the-job training should be offered as it helps people adopt life-long learnings. To do this, digital tools and new-age technology like artificial intelligence, analytics and blockchain will be extremely beneficial and essential in delivering this new learning approaches.
She also strongly believes that human skills like creativity, empathy and ethical judgment cannot be taught by traditional teaching methods in a classroom. People tend to hone these skills with the help of intelligent technologies extensively.
It is also mentioned that Blockchain, Ai and Future Tech events in India will stand as a great platform for Blockchain developers to get jobs and lead to an increase in employment.
With the innovative technology being accepted by a lot of Indian start-ups, ICO/STO pitching competitions are a great way for start-ups to secure funding from investors.
A comprehensive skill-based learning path and awareness needs to be created in schools and colleges to oblige the more extensive needs of the digital economy by all the stakeholders including the government departments, industry bodies, academia and corporates, is also accentuated in the report.