Job Scenario: Indian Employers Hoping To Outpace Others In Chips, Computing Tech

(MENAFN- Live Mint) Increased digital access, geopolitical tensions and climate-mitigation efforts are the primary trends expected to shape the future of jobs in India by 2030, the World Economic Forum said in a report.

Similar to their global peers, companies operating in the country are heavily investing in AI, robotics and autonomous systems, and energy technologies.

Employers in India are also planning to outpace global adoption in certain technologies, with 35% expecting semiconductors and computing technologies and 21% expecting quantum and encryption to transform their operations.

The country's projected fastest-growing job roles-including big data specialists, AI and machine learning specialists, and security management specialists-align closely with global trends. To address talent needs, companies operating in India expect tapping into diverse talent pools (67%, compared to 47% globally) and adopting skills-based hiring by removing degree requirements (30%, compared to 19% globally) to be effective.

The report said the global workforce needs to upskill themselves urgently if they want to remain employed, estimating a net increase in 78 million jobs in the next five years.

While 170 million new roles will be created in the next five years, 92 million will get expunged, it said in a study.

According to WEF, while skill set gaps remain the biggest hurdle for employers, artificial intelligence (AI) will play a key role in reshaping business models. About 41% of the employers studied, plan to reduce their workforce as AI automates certain tasks.

"Trends such as generative AI and rapid technological shifts are upending industries and labour markets, creating both unprecedented opportunities and profound risks," said Till Leopold, head of Work, Wages and Job Creation at the World Economic Forum. "The time is now for businesses and governments to work together, invest in skills and build an equitable and resilient global workforce," Till Leopold, head of work, wages and job creation at WEF, said in a statement.

The study, called The Future of Jobs Report 2025, collected data from over 1,000 companies and noted that "technological advancements, demographic shifts, geoeconomic tensions and economic pressures" were responsible for "reshaping industries and professions worldwide".

Some of the skills in demand in the coming years will be technology skills in AI, big data and cybersecurity while "human skills", such as creative thinking, resilience, flexibility and agility, will remain critical. "A combination of both skill types will be increasingly crucial in a fast-shifting job market," the release noted.

Interestingly, the need for more AI based roles is now seen in India across hierarchies and is mirrored in campus placements in India. Placement teams at India's top engineering colleges told Mint that companies were largely recruiting for roles in cognitive science, data scientists, quantitative strategists and developers, and AI-focused developers, researchers and application engineers.

Those employed as farmworkers, labourers and other agricultural workers, Light truck or delivery services drivers, Software and applications developers and caregivers will see their job potential increase. The study found that roles such as cashiers and administrative assistants remain among the fastest declining but are now joined by roles including graphic designers as "generative AI rapidly reshapes the labour market".

The study showed that skill gap is the most significant barrier to business transformation. About 40% of skills required on the job are set to change and 63% of employers are already citing it as the key barrier they face.

While 77% of the employers are reskilling their workforce WEF said,“Almost half of employers expect to transition staff from roles exposed to AI disruption into other parts of their business, an opportunity to alleviate skills shortages while reducing the human cost of technological transformation.”

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