In the rapidly evolving landscape of technology, artificial intelligence (AI) is increasingly being recognized as a key driver of change in workplaces around the world. According to a recent survey by PwC, titled ‘India Workforce Hopes and Fears Survey 2023,’ it appears that India is poised to become a pioneer in incorporating AI technology into businesses, provided the industry takes the right upskilling approach.
AI and Productivity: A Positive Outlook
A notable finding from the survey is that 51% of Indian respondents believe that AI will significantly increase their productivity at work. This is a considerably higher percentage compared to the global average of 31%. The caveat here is that this optimistic outlook is contingent upon organizations providing the necessary upskilling opportunities for their employees.
Anumeha Singh, a partner at PwC India, emphasizes that amidst the uncertainties and seismic impact of AI, the workforce is demanding more from employers. Competitive compensation is no longer the sole focus; job satisfaction, growth opportunities, and upskilling support are increasingly becoming integral to employee expectations.
Upskilling: A Key to India’s AI Leadership
The report underscores the importance of upskilling for India to take the lead in AI integration. A significant majority (62%) of Indian employees foresee a significant change in the skills required for their jobs over the next five years. Remarkably, 69% of them are already aware of how these requirements will evolve.
The survey also reveals that Indian respondents are around 15% more confident than their global counterparts that their employers will equip them with the necessary tools and opportunities to develop the required skill sets. This confidence in employer support is crucial for fostering a workforce that can adapt and thrive in the AI-driven future.
Restless Workforce: A Call for Transformation
India’s workforce appears to be restive, with 42% of employees indicating a likelihood of changing jobs in the next year. This restlessness is driven by expectations of better pay packages and promotions, a sentiment more pronounced in India than globally (26%). The report suggests that organizational efforts need to extend beyond the younger generation to include managers and senior executives who also seek growth and development opportunities.
Kartik Rishi, a partner at PwC India, points out that while Indian leaders are aware of the urgency to transform the workforce, there is still a notable gap in their talent strategies and programs, particularly regarding future-focused skills. Rishi advocates for a forward-looking, skills-first approach integrated into business processes as a key factor for business leaders to sustain success over the next decade.
Urgency to Upskill: A Clear Call to Action
The survey indicates a higher awareness among India’s workforce regarding the need for upskilling. Over half (53%) of Indian employees highlight new skill development as a reason for taking on secondary jobs, compared to 36% globally. This urgency to upskill is not just a personal initiative but is also reflected in the broader perspective of preparing for the evolving demands of the job market.
Conclusion
The PwC survey paints a picture of an Indian workforce ready to embrace the opportunities presented by AI, provided there is a concerted effort from organizations to prioritize upskilling. The call to action for businesses is clear – adopt a forward-looking, skills-first approach to not only meet the immediate demands of a changing landscape but also to ensure sustained success in the future.
Source: Fortune India
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