It seems that automation is likely to kill the jobs in India. According to a latest research by tech analysts like Gartner, Forrester and McKinsey Automation is expected to gain further steam in 2018, killing nearly 70 percent of the Indian Jobs. The research point out that this will impact future hiring in India, where around 65 percent of the global IT offshore work and 40 percent business process work is done. “Ongoing reductions of headcount in outsourced businesses (due to automation) will eventually result in a scenario where only 30 per cent of the workforce will remain relevant,” said DD Mishra, Research Director at Gartner.
One of the key factors driving automation in the companies, and particularly in IT sector, is that clients in developed markets are asking their outsourcing partners to adopt automation more as it helps them increase scale and competitiveness. “Overseas clients of the software services industry are asking their Indian offshore vendors to invest on automation tools. In some cases, clients are willing to fund as they seek a 5-10 per cent cost reduction on a yearly basis,” said Kris Lakshmikanth, CEO, and Headhunters India. India’s $155-billion IT sector employs around 3.9 million people in the country, and McKinsey estimates that half of the existing workforce will be irrelevant as they are not skilled to stay tuned to the changing market needs.
Well it seems that the automation is not only limited to the IT sector. “Automation will soon snatch away traditional jobs in manufacturing sector and there is challenge ahead to prepare oneself to fit in other avenues. One of the most sought after jobs in future is going to be ‘story-telling, “said Ganesh Natarajan, executive chairman and founder, 5F World, Skills and Global Talent Track. Automation and robotic processing practices will destroy as much as 30 percent of jobs in the global banking sector over the next 10 years, according to Citigroup. As per a survey conducted by researcher Katja Grace at the University of Oxford’s Future of Humanity Institute there is a 50 percent chance that Artificial Intelligence will surpass Human Intelligence in a period of 45 years. There are also certain benefits that are associated with the automation. The adoption of automation may enable companies to drive more innovation and increase revenue per employee. But it is the high time for employees to tune up their skills as per industry needs to protect themselves from these new technologies.