From Peril to Promise – Futureskills Beckons

The Indian IT industry directly employs about 4 million people which also makes it one of the top employers in the private sector. Over the next 4 – 5 years, 60 – 65% of the workforce is very likely to face a major change when their job role transforms, maybe even beyond recognition, for many. The point that needs to be made here is about shifting the narrative from job losses to re-skilling for a future, the harbinger of which has already brought about new but enhanced skill requirements. Granted, many jobs will go away and never to return, but we are really talking about a better future where human skills are optimally utilized as part of a nation’s progress. 

9 – 66 – 155

Well, it’s about 9 new technologies to be aced, 66 Job Roles on offer & 155 new skills to be acquired. (Please refer the PPT for details).  

Digital transformation is already upon us and for most industries, it’s not so much as an option as it’s an imperative. Needless to say, certainly that is the case for IT BPM. An impending ‘peril’ for those who are in denial, and unimaginable ‘promise’ for the vital others who choose to ace the new opportunities. Choice. Action.

It has been said before but we will say it again anyway. Skills shortage or the need for re-skilling isn’t only about India. It’s a global phenomenon and even the developed nations are struggling – at times more than we can imagine. There’s enough statistical evidence and Analysts’ Reports to support this claim. And, the figures are stark. Upwards of 55 – 60% of the global CEOs feel they are ill-equipped currently to bridge the widening gap. Sample this: In the next 3 years, the requirement for Cybersecurity professionals is ~ 3 million. There are similar daunting numbers everywhere.

That’s why the NASSCOM Futureskills programme is highlighted. We believe, it will take us a step closer to our avowed vision of preparing 1 – 1.5 million people in new technologies in the next 4 – 5 years. As an industry, we need to take many more giant leaps like this one if the gap is to be bridged.  

Current Status

  • Pioneer Companies: Futureskills launched with a mix of member firms to solve for different kinds of use cases.
  • User Base: 200,000+ committed users from signed up member firms
  • Partner Ecosystem: 30+ partners have signed up, including best in class product firms.
  • Over 30,000 content pieces fuelling the platform
  • Subject Matter Experts: A key differentiator. Industry experts contribute relevant and current learning content. On-boarding in progress.

Technologies Enabled:

Goal 1 (Discovery)  – enabled for all 9 Technologies.

Goal 2 & 3 (Continuous Learning &Deep Skilling) enabled for AI, Big Data, RPA. Rest by Sep ’18.

The Future

  • Continued Focus on Phase 1 in 2018-19 – B2B
    • Continue to roll out to NASSCOM member companies in 2018-19.
  • Prepare for Phase 2 – Launch B2C in 2019
    • Make futureskills available to Universities and Colleges in next year.
    • MOU with MeitY focused on extending the Futureskills platform to individuals.
    • Goals for next 5 years : 1 million professionals to be reskilled and 1 million potential employees and students to be skilled in the new emerging technologies !

The great Peter Drucker once said, “The only skill that will be important in the 21st century is the one of learning new skills. Obsolescence is inevitable.”

Come,  be a part of this revolution.

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