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Jobs of Future

Jobs of Future. Growth, Drivers & Challenges. Prof. Sandeep Sancheti President Association of Indian Universities, New Delhi Vice Chancellor, SRM Institute of Science & Technology, Chennai. Present Scenario. The Big Picture.

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Jobs of Future

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  1. Jobs of Future Growth, Drivers & Challenges Prof. SandeepSancheti President Association of Indian Universities, New Delhi Vice Chancellor, SRM Institute of Science & Technology, Chennai

  2. Present Scenario

  3. The Big Picture • APAC leads global markets with a Net Employment Outlook of 62% for the April-September, 2018-19 period. Middle-east [54%], Americas [44%], Africa [43%] and Europe [39%] trail behind APAC by significant margins. • Benchmarked against global markets, the employment outlook for India is ahead of APAC (global leader) by 33% and ahead of Europe (global laggard) by 54%. • For the Indian economy the outlook improves in 8 out of the 16 sectors, covered as part of the survey, dips in 7 and stays neutral in one for the April-September, 2018-19 period compared to October-March, 2017-18. *Source - Key findings of the Team Lease Employment Outlook Report H1 FY18-19

  4. Job Scenario * Source - World Economic Forum

  5. Job Statistics As per the report from Ministry of Labour & Employment following is the statistical picture : The various stakeholders in the NCS platform include job seekers, industries, employers, employment exchanges, training providers, employment exchanges and placement Organizations. *Source - Ministry of Labour & Employment's Annual Report 2017-18

  6. Opportunities

  7. Sectors and their Outlook * Source - Key findings of the Team Lease Employment Outlook Report H1 FY18-19

  8. Emerging Jobs In India (Tech Savvy Jobs) • Machine learning engineers • Application development analyst • Back-end developer • Full-stack engineer • Data scientist • Customer success manager • Digital marketing specialist • Big data developer • Sales recruiter • Python developer

  9. Emerging Jobs In India (Non-Tech Jobs Sectors) • Media & entertainment • Food and Health care • Body and Beauty care • Insurance • Legal aid and support • Financial planning and management • Marketing & Sales • Sports as a profession • Non-conventional energy

  10. Challenges

  11. Education & Skill Gap With the increase in-demand for emerging roles, the key will be to up skill talent; and focus on candidate’s skills rather than previous job titles. India has a huge skill gap Here’s how our working population, aged 15-59 years, among the 470+ million labour force, are placed in the education spectrum With nearly 50% with primary or less education, there is clearly a potential problem. And a lack of sufficient skill can lead to a lack of decent employment opportunities * Source Planning Commission 2017

  12. Skills or Attributes Required (General) There are seven skills that will be essential to future jobs: 1. Mental Elasticity and Complex Problem Solving 2. Critical Thinking 3. Creativity 4. People Skills 5. STEM (science, engineering, technology, management) 6. SMAC(social, mobile, analytics and cloud) 7. Interdisciplinary Knowledge

  13. Other Challenges Here are some major problems, among others, that are plaguing the Indian employment landscape: • There are just not enough jobs • The skewed income distribution • Whether it is the lack of resources, government restrictions and policies, poor manpower projections, inadequate education, lack of support for job creation, market mismatch, or good old corruption, the fact remains that around 31 million unemployed Indians are currently out of job, according to a report by the Centre for Monitoring Indian Economy and this is not likely to change soon.

  14. Road Ahead

  15. Sunrise Industries in 2018 • Artificial intelligence and autonomous systems • Financial regulatory services technology • High-value nutrition • Next generation energy storage and distribution • Cyber-physical systems security • Personal health and ageing • Digital infrastructure and connectivity • Contact and online education Caution : The jobs created won’t be the same as the ones destroyed

  16. AI – New Job Profiles Here are 10 examples of AI-powered predictive experiences that are changing how brands interact with customers: 1. Sprint Uses AI To Lower Churn/ Attrition Rate 2. Harley Davidson Targets Potential Customers With AI 3. Volvo’s AI Program Detects Faulty Parts 4. Netflix Uses Data For Personalised Recommendations 5. Sephora Helps Customers Find The Right Products With AI 6. Royal Bank of Scotland Combines Data To Proactively Solve Problems 7. American Express Uses AI To Predict And Stop Fraud 8. Caesars Palace Predicts The Best Guest Upgrades 9. Progressive Turns Customer Data Into Accurate Policies 10. Gogo Air Predicts Customer Trends and Demand With AI

  17. May be we will have less work &more comfortable life ! As of 2018, humans account for about 71% of the total work hours done by humans and machines. But by 2022, that is expected to decline to 58%. And by 2025, the WEF report predicts that humans will do just 48% of the hours of work done by humans or machines. THANK YOU

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