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Deb Deep Sengupta, President and Managing Director, SAP India & Sub-Continent summarizes, To face the challenges and reap the rewards of the Fourth Industrial revolution, India must focus on people and skills.
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| A focus on employability and skills for India's huge youth population is crucial Photo: REUTERS/Punit Paranjpe |
As India moves along the trajectory of digital transformation, the growing penetration of digital technologies in Indian society presents huge economic opportunities. The government has set its sights on transforming India into a $5 trillion economy by 2025. For India to reap the economic rewards of the Fourth Industrial Revolution, the participation of the government, large enterprises, micro, small and medium enterprises, start-ups, entrepreneurs and society at large is required. For India Inc., this is an opportunity to seize with both hands.
Businesses at the forefront of the Fourth Industrial Revolution must take the initiative to raise awareness and provide technical expertise and guidance for all citizens to ensure a future-ready India.
National treasure
With the introduction of new, cutting-edge technologies almost every single day, organizations are becoming aware of the need to don the digital mantle. They are increasingly adopting innovative solutions that can help them stay relevant in today’s hyper-competitive environment. According to a recent McKinsey Global Institute report, roughly 14% of the global workforce by 2030 will need to switch to new occupational roles under categories such as digitization, automation and data management and analytics. Moreover, 35% of existing job roles will be non-existent by 2022...
Digital inclusion for all Digital inclusion is the process of empowering people through information and communication technology. Strong public-private partnerships will help us accomplish it more quickly.
Online training programmes and the inclusion of machine learning, data analytics and the Internet of Things, plus increased automation in the existing education curriculum and corporate training programmes for early-career youth can help catapult India far into the Fourth Industrial Revolution.
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Source: World Economic Forum
