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Are our skills future-ready? On Automation Indian IT and BPO sector will lose 6.4 lakh jobs by 2021: HfS Research

By   /  July 5, 2016  /  Comments Off on Are our skills future-ready? On Automation Indian IT and BPO sector will lose 6.4 lakh jobs by 2021: HfS Research

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Mumbai: Is skill is a perishable item? Is Automation a threat to job markets? Are job seekers ready to face the challenging situation where skills appear to be a perishable item?  US based global research firm HfS Research perhaps for the first time has quantified the impact of automation and robotics on the job creation. HfS Research has predicted that Intelligent Automation will take a heavy toll on global IT services and BPO workers with a net decrease of 9%  or  loss of 1.4 million jobs. The negative impact is the most strong in India with a net decline of 14% or a loss of 6.4 lakh jobs in the IT services and BPO sector.

The HfS future workforce impact model pegs the current total IT Service and BPO industry  at nearly 15 million in 2015, with 3.5 million in India, 1 million in the Philippines, 5 million in North America and 4 million in Europe.  The impact of automation is severe in low-skilled jobs such as simple entry level, process driven tasks that require little abstract thinking or autonomy.  India is set to lose 6.4 lakh and the US 7.7 lakh low-skilled positions by 2021, decreases of 28% and 33%, respectively.

On the other with automation job churning will take the lead as it will create more jobs in medium-high skilled jobs. The research report mentioned that the Philippines, the UK and India are positioned to benefit from semi-high skilled job creations by 2021.  A job churn is going to happen where demand for jobs having higher degrees of complex problem solving, autonomy, creativity, etc will surge. The fasted growth in medium-high skill jobs creation will be seen in the Philippines with 48% growth, albeit from a lower base. The UK will create 1.3 lakh semi-high skills jobs at 13% growth, India 1.64 lakh jobs at 14% growth and the US with only 7% growth at 1.73 lakh new jobs .

The global research has suggested some measures for India how to create more opportunities for job seekers. India needs to focus on new areas for services job creation where it has strength in numbers and strength in potential. Engineering and analytics are some impressive areas where it can generate opportunities for its talents.

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