Bangalore, India, July 13, 2017 --(PR.com
)-- TWB_ announced the release of an analysis of the impact of automation on Indian IT, with a focus on what the industry, companies and employees can do in the face of data pointing to about half a million IT/ ITES employees being made redundant over the next 5 years due to this.
While technology will continue to fundamentally reshape the world, the largest impact will come from machines creating technology and delivering services. As this happens, the job market will inevitably shrink. The TWB_ analysis points to:
● Relative wages will determine the relative pace of automation. It is here that the Indian IT industry is most vulnerable, since wages in destination markets are the highest and the industry has never created a real spread away from the US.
● Job losses are not evenly distributed among low, medium, and high-skilled jobs. In fact, jobs that require experience, complex problem-solving, the ability to learn on-the-job, and to work autonomously will actually grow by 14-15% over 5 years.
● The full impact is not just in the form of job losses but also on the large number of "freshers" in engineering colleges.
3 things for companies to do
1. Move into more engineering services and analytics, with there being such a proficiency for data and technology from services talent.
2. Do more automation. Companies that help their customers automate will be the next generation of outsourcing.
3. Look for niches where management is directly involved with customers’ management in decision-making, problem-solving and creative+strategic processes.
3 things for the industry to do
1. Work with the education system: The industry must create a workforce with knowledge of computer science, mathematical, analytical, statistical and communication skills.
2. Change onboarding processes: Stop focusing on developing narrow, college-level skill sets instead of encouraging creative thinking, critical decision-making and problem-solving.
3. Innovate: The Indian IT industry has however always been customer-led, and consistently avoided investment in innovating on basic technology to create new markets.
3 things for employees to do
1. Move up the IT development value chain: Develop the skill and expertise to grow into data analytics, engineering design, cloud, digital automation.
2. Move across the value chain: There are functions outside of software development where one can create value. For instance in product management, business and marketing management, content development.
3. Move into adjuncts: There are several non-IT sectors that are thriving currently, but are starved for professionals with technical backgrounds such as training & education.
Rakesh Shukla, Founder & CEO, TWB_ said, “The industry focus has to move from hiring to re-skilling, and re-skilling quickly. There will be new jobs created in the future to focus on higher value work, and this will require the workforce to evolve their skills to take on roles with higher degrees of complex problem-solving, creativity, and emotional intelligence. Which only means that companies and individuals that resist innovation and rest on legacy skills won't be around in half a decade.”
The analysis of the impact of automation can be seen here: https://goo.gl/5lTJMc
The 2-minute confidential self-assessment for employees is here https://goo.gl/rOfpEV
TWB_ is the home of Business + Learning + Product content for Fortune 500 technology leaders and startups alike. TWB_ creates, automates, repurposes and publishes content achieving unprecedented efficiencies, enhancing content quality, achieving faster go-to-market and lowering costs. TWB_ is the worldwide pioneer of offshore development of technology content (since 2006), was the first India-based company to roll out & implement enterprise-grade Content Automation solution (2010) and the first India-based company to roll out & implement IETM IV/V solutions for Defense and Aerospace (2013). TWB_ operates across Information Technology, Telecom, Financial Services, Manufacturing, Life Sciences and Aerospace & Defense. TWB_ delivers to over forty Fortune 500 technology majors including AXA, ABB, Cisco, Fidelity, Honeywell, IBM, Intel, Israel Aircraft, Microsoft, Oracle, Société Générale, Samsung Shipping, Siemens, Toyota etc located across the Silicon Valley, the US East Coast, France, Luxembourg, Germany, India, Taiwan, South Korea and Japan. More information on TWB_ is available at www.twb.in
The soon to be announced automationshift_ conference will be India’s first conference for CEOs and other CXOs to share their approaches and technological direction in leveraging AI + automation and drive higher efficiencies across Marketing + Product Engineering + Product Management + Learning across their organizations. automationshift_ will also brings together large enterprise users together with exciting AI + automation startups to create a larger automation ecosystem. More details available on www.twb.in/shift
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