By 2030, Skill Requirements Will Change by as Much as 64%: The Future of Work in India
Oct 3, 2024
HR Trend
The world of work is evolving at an unprecedented pace, driven by rapid technological advancements and societal shifts. According to LinkedIn's Chief People Officer, Teuila Hanson, the skill sets required for jobs have changed by 36% in India since 2016, and this trend is set to accelerate. By 2030, the skills needed to perform jobs are expected to change by as much as 64%, largely due to the influence of artificial intelligence (AI) and automation.
The Changing Talent Landscape in India
Post-pandemic, the professional landscape in India has seen a marked transformation. With 135 million members on LinkedIn in India alone, the platform provides a unique view of the changing nature of work. As Hanson points out, even without changing jobs, many professionals find that the skills needed to perform their current roles are evolving at a rapid pace. The integration of AI, machine learning, and data-driven technologies is significantly accelerating this trend.
The speed of change is unprecedented. A 36% shift in required skills within just six years underscores how quickly job roles are evolving in response to technological developments. As we move toward 2030, the gap between the skills workers have and the skills they need will widen unless individuals and companies actively pursue upskilling and reskilling initiatives.
How AI Is Shaping the Future of Work
Artificial Intelligence (AI) is a key driver of the changing skills landscape. AI is not only automating routine tasks but also transforming how professionals across various industries perform complex jobs. Here’s how AI is reshaping skill requirements across sectors:
Automation of Repetitive Tasks: Jobs that require repetitive tasks, such as data entry, administrative work, and routine analysis, are being automated. This shift requires employees to pivot toward higher-value activities that involve creativity, problem-solving, and strategic thinking.
Emerging Roles in AI and Tech: AI itself is creating new job opportunities in fields like data science, machine learning, AI ethics, and robotics. Professionals in these sectors must develop advanced technical skills in AI, coding, and data analysis to stay competitive.
Blending Human Skills with AI: While AI is handling the more technical aspects of jobs, human skills such as emotional intelligence, leadership, communication, and critical thinking are becoming more essential. These "soft skills" are crucial for overseeing AI-driven processes and ensuring that automation benefits the broader business strategy.
The Rise of Soft Skills
As AI and automation take over technical tasks, soft skills are emerging as the most valuable asset for professionals across industries. The World Economic Forum has identified skills such as emotional intelligence, creativity, collaboration, and adaptability as critical for future success. These skills enable individuals to navigate complex problems, manage teams, and work alongside AI in increasingly automated workplaces.
For mid-career professionals, soft skills will be especially important as they move into leadership roles that require a combination of strategic thinking, people management, and technological oversight. AI can assist with data-driven decisions, but humans will still be needed to set the vision, lead teams, and engage clients.
Industry-Specific Skill Shifts
While the overall trend shows a 64% shift in skills by 2030, different industries will experience these changes at varying speeds:
Technology and IT: In tech, professionals must constantly upgrade their technical skills to keep up with advancements in AI, cybersecurity, and cloud computing. Those who embrace lifelong learning and certifications in cutting-edge technologies will have a competitive edge.
Finance and Banking: Fintech innovations and AI-powered financial models are driving a skills shift in the finance industry. Professionals need to acquire skills in AI, blockchain, data analytics, and algorithmic trading.
Healthcare: AI is transforming healthcare with technologies such as predictive analytics, telemedicine, and AI-assisted surgeries. Healthcare professionals need to understand how to leverage these technologies while maintaining the human element in patient care.
Manufacturing: Automation and AI are revolutionizing the manufacturing industry, with smart factories and IoT-driven production. Workers need to develop new skills in robotics, AI-based quality control, and data management to stay relevant.
Marketing and Sales: AI is also reshaping the way marketing and sales are conducted. Professionals in these fields need to understand AI-driven consumer insights, predictive analytics, and personalized marketing techniques.
Upskilling and Reskilling: A Priority for the Future
To stay competitive in this rapidly changing job market, both companies and employees must prioritize upskilling and reskilling. Companies need to invest in continuous learning programs that equip their workforce with future-ready skills, while employees must take the initiative to stay informed about emerging trends in their industries.
For Companies:
Invest in Training Programs: Companies should offer learning and development programs that focus on both technical and soft skills. These programs can be internal or offered through partnerships with educational institutions.
Promote Lifelong Learning: Encourage employees to pursue additional certifications, attend workshops, and engage in mentorship programs that foster personal and professional growth.
For Employees:
Stay Ahead with Continuous Learning: Employees need to take charge of their learning journeys by enrolling in online courses, attending industry conferences, and gaining certifications in AI, data science, and other in-demand skills.
Embrace Flexibility: Adaptability is key in a world where job requirements change rapidly. Be open to exploring different roles or departments that offer learning opportunities and broaden your skill set.
Conclusion: Preparing for the Future of Work
By 2030, the skills needed to perform jobs will have changed by as much as 64%. This staggering shift means that professionals across industries must be proactive in upskilling and reskilling to remain competitive. AI and automation are accelerating the pace of change, making it crucial for both individuals and companies to invest in continuous learning. As we move into the future of work, the ability to blend technical and soft skills will be the key to thriving in a dynamic, AI-driven world.