India – the new hub of emerging technologies?

The pandemic has pushed the agenda of a digital-first economy since 2020. The adaptation was faster and set the tone for transition. Organisations – both public and private – prioritise the agenda. At the beginning of the year, India Union Budget 2022 had further marked a huge budget for marking India’s transition to a global digital hub. The focus is on technology-enabled development and aligned investments in key sectors like healthcare, finance, education, infrastructure, R&D, start-ups, agriculture and manufacturing.

There will be a fundamental transformation in the way we work. By 2030, many of the jobs that might sound important may perish giving rise to new ones. Automation, Artificial Intelligence might replace human tasks and jobs. In a PwC survey of 10,029 members of the general population based in China, Germany, India, the UK and the US, 37% are worried about automation putting jobs at risk – up from 33% in 2014.

The article Future Technology 2030 – Jobs and Automation Tech talked about some radical transformation:

One of the biggest transformations will take place in the world labor market. Many experts predict a loss of some 50% of all current jobs and professions due to Artificial Intelligence and Big Data. The future world will see over 2 billion jobs disappear, with most coming back in different forms in different industries. Over 50% jobs will be structured as freelance projects rather than full-time jobs. By 2050, experts predict over 50% of today’s Fortune 500 companies will have disappeared, over 50% of traditional colleges will have collapsed, and India will have overtaken China as the most populous country in the world along with over 30% unemployed population.

On June 6th, the All India Council for Technical Education (AICTE), an Apex Indian government advisory body, launched a Digital Skilling platform for skilling, reskilling, and upskilling 10 million students and professionals in emerging technologies. In an event organised to launch the platform, Anil Sahasrabudhe, Chairperson, AICTE said they have identified 30 emerging technologies, 55 job roles and 155 skill sets With 50% of the Indian population below 25 years, a huge opportunity for youth and young professionals awaits to form the foundation of the country’s economy. He further added that to handle the challenge of the skill gap in emerging technologies by digitally skilling our youth.

Dr Amit Andre, Chief Executive Officer, The DataTech Labs Inc., there has been a lot of statistics around Industry-Academia gap and that gap is being fulfilled from the prospective of Curriculum, Certifications, Programs, etc.

One of the areas highlighted was Blockchain. In fact, Polyversity, AICTE’s office in the metaverse, was launched on Monday by Dharmerendra Pradhan, Minister of Education. Information Data Systems (IDS), the company that has developed Polyversity, is partnering with AICTE for supporting the organisation in training in Blockchain courses. Aravind Voruganti said their Bharat Blockchain Network will work closely with academia and bring various decentralised applications that will help in making the processes and data more secured.

There are several tech giants and other partners that will be supporting this initiative. Major names include Amazon Web Services, Microsoft, IBM, The Data Tech Labs Inc, NASSCOM, Aspire For Her, etc.

Sevashree Mohapatra
A strategic Corporate Communication leader and technology enthusiast, I have more than 20 years of experience in content, corporate communication, and Strategy. Having worked in major media houses and MNCs like Hindustan Times, Ogilvy, ArcelorMittal, and Suez, I have helped brands to create value for their customers.