Hero Vired, a leading learntech startup within the Hero Group, recently released a report on the ”Future of the Skills Landscape 2024” highlighting a notable trend among professionals and graduates.
According to findings from a comprehensive survey of 2 lakh people, including students, working professionals, and academicians, 82% of working professionals expressed concern about potential job redundancy due to emerging technologies. This finding emphasises the workforce’s concern about the impact of evolving technologies on job security.
Despite these concerns, 78% of working professionals see upskilling as a proactive strategy to navigate the rapidly changing work landscape. This acknowledgement reflects a growing recognition of the importance of continuous learning and skill enhancement to remain relevant in today’s dynamic job market.
Here are the key findings from the report:
Impact Of Artificial Intelligence
The study reveals the role of artificial intelligence in shaping career trajectories. 39% of respondents believe that knowledge of AI significantly impacts career growth opportunities within their current organisations. 43% are dissatisfied with their employers’ lack of adequate AI training. This shows a clear gap between perceived importance and actual training provision in this critical technology domain.
Priorities for Skill Development and Continuous Upskilling
Of the working professionals aged 18-55 from metro and non-metro cities, 43.5% express the need for upskilling every six months. 83% of those polled believe that upskilling, particularly in AI, will improve their job prospects. Furthermore, with EdTech platforms transforming education and increasing accessibility, 81% of respondents who upskilled themselves last year chose online courses as part of their learning journeys.
Emergence and Impact of Generative AI
The growing popularity and impact of generative AI, as exemplified by the launch of ChatGPT in late 2022, have sparked debate in corporate boardrooms and households alike. Notably, 90% of respondents believe AI will be the most in-demand skill in the next five years, with an astounding 80% believing AI will be the highest-paying job in the same timeframe.
Booming Non-Tech Industries
As per the report, the top three non-technology sector jobs expected to be in high demand are digital marketing, green jobs, and mental health coaching. As industries prioritise environmental responsibility, demand grows for professionals with expertise in Corporate Social Responsibility (CSR), corporate governance, and eco-friendly technologies. This diversification suggests a broader recognition of the evolving nature of skills required across various sectors.
In essence, as individuals and organisations adapt to the evolving needs of the professional landscape, Hero Vired’s report is a valuable resource for comprehending today’s job market dynamics. As an emerging learntech platform, it is dedicated to fostering a workforce that is not only future-ready but also at the cutting edge of innovation and technological prowess.
Commenting on the findings, Akshay Munjal, Founder and CEO of Hero Vired, stated:
The report captures the sentiments and priorities of professionals and graduates amidst a dynamic and volatile job landscape. It illuminates concerns tied to technological changes and the urgency to upskill to address these challenges. Also, as professionals and companies alike are placing the long-due focus on sustainability, fitness, and mental health, job roles in these sectors will be in demand. Through our platform, we aim to address the skill gaps in the country through new-age courses that aim to make professionals future-ready for the 21st century and Industry 4.0.
Munjal further mentioned:
It cites concerns tied to rapid technological advancements while underscoring the crucial role of upskilling in addressing these challenges. Upskilling will prepare future leaders to navigate the challenges better and assist them when using technology to their advantage.
Hero Vired is India’s premium learntech Company for professionals and higher education aspirants. The Company offers career-relevant programmes in partnership with world-class universities to make learners more competent and industry-ready for emerging jobs and skills of the future. With best-in-class short- and long-term learning programmes, the platform offers overall professional development via skill-based programmes and courses that are imperative for a learner’s growth in India’s rapidly evolving digital economy.