In my earlier blogs (Links below) I had spoken about job losses being real but the consequences of it being a hype unless we just ignore what the response should be. It is like saying I will go out on a rainy day without my umbrella and not get wet. So someone has to do something about it only one can get out unscathed or untouched by the drops of water.
Automation Tiger: Hyped Or Real
Decluttering the Hype Around Job Losses
Recently the McKinsey Global Institute did a survey on this subject and came up with a paper in December 2017 titled "JOBS LOST, JOBS GAINED: WORKFORCE TRANSITIONS IN A TIME OF AUTOMATION"
I would emphasize the usage of Workforce Transitions in the title that reflects the nature of what is to come and has already arrived.
The fact is echoed here too that shifts are happening and one should be ready. While I won't go much into the paper as you can read it on the McKinsey site I want to emphasize some points from the article and then discuss who should try and address this shifting jobs and ensure that societal impact is reduced.
To Quote from the article
"Automation will bring big shifts to the world of work, as AI and robotics change or replace some jobs, while others are created. Millions of people world wide may need to switch occupations and upgrade skills."
Another interesting fact therein is about 30% of jobs within 60% of occupations leading to many job shifts needed. The question is who will manage these and what kind of leadership will organizations and individuals need to show
a) To avoid a disruption to the economy in a rapidly changing world of shifts in skills a balanced growth should be planned (in skills,roles and competencies).
b) Industry along with the Government and Industry Bodies have to play a key role
c) Educational institutes, training agencies should be roped in to take up this massive effort
d) If we don't take this up on rapid scale within the country external universities will come in and take a big pie of the opportunity
e) Large corporate houses in every industry will have to play a "Responsible Leadership" kind of role to nurture new talent by providing a view of what they need and a slice of what should be done.
So the coming decade will see the role of Industry Academia alliances shooting up and UGC and NAAC (Indan Context) have already seen this coming and place a heavy weight on this collaboration in their ratings of colleges and universities.
Industry bodies like NASSCOM and PHARMACEUTICAL ASSOCIATION are already doing significant work on this and every sector should have some responsible leaders within their space coming out and looking at the future and assessing the skills demands and shifts that will happen
As we all know from economics Wages and Salaries are sticky and so any decline in demand or supply reduction due to talent availability will drive down the jobs and this will have a spiral effect if the road ahead is not redone. Its only with the help of this careful planning and management that the road ahead on job street can be smoother in the years to come.
Automation Tiger: Hyped Or Real
Decluttering the Hype Around Job Losses
Recently the McKinsey Global Institute did a survey on this subject and came up with a paper in December 2017 titled "JOBS LOST, JOBS GAINED: WORKFORCE TRANSITIONS IN A TIME OF AUTOMATION"
I would emphasize the usage of Workforce Transitions in the title that reflects the nature of what is to come and has already arrived.
The fact is echoed here too that shifts are happening and one should be ready. While I won't go much into the paper as you can read it on the McKinsey site I want to emphasize some points from the article and then discuss who should try and address this shifting jobs and ensure that societal impact is reduced.
To Quote from the article
"Automation will bring big shifts to the world of work, as AI and robotics change or replace some jobs, while others are created. Millions of people world wide may need to switch occupations and upgrade skills."
Another interesting fact therein is about 30% of jobs within 60% of occupations leading to many job shifts needed. The question is who will manage these and what kind of leadership will organizations and individuals need to show
a) To avoid a disruption to the economy in a rapidly changing world of shifts in skills a balanced growth should be planned (in skills,roles and competencies).
b) Industry along with the Government and Industry Bodies have to play a key role
c) Educational institutes, training agencies should be roped in to take up this massive effort
d) If we don't take this up on rapid scale within the country external universities will come in and take a big pie of the opportunity
e) Large corporate houses in every industry will have to play a "Responsible Leadership" kind of role to nurture new talent by providing a view of what they need and a slice of what should be done.
So the coming decade will see the role of Industry Academia alliances shooting up and UGC and NAAC (Indan Context) have already seen this coming and place a heavy weight on this collaboration in their ratings of colleges and universities.
Industry bodies like NASSCOM and PHARMACEUTICAL ASSOCIATION are already doing significant work on this and every sector should have some responsible leaders within their space coming out and looking at the future and assessing the skills demands and shifts that will happen
As we all know from economics Wages and Salaries are sticky and so any decline in demand or supply reduction due to talent availability will drive down the jobs and this will have a spiral effect if the road ahead is not redone. Its only with the help of this careful planning and management that the road ahead on job street can be smoother in the years to come.
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