India is poised to take a leadership role in the adoption of future technologies, with employers investing heavily in technologies like Artificial Intelligence (AI), energy technologies, robotics, and autonomous systems. According to the World Economic Forum’s (WEF) "Future of Jobs" report, India is among the countries leading the way in tech innovation and is set to outpace its global peers in the adoption of future technologies. This trend is expected to reshape industries and workforces, with India positioning itself as a key player in the global tech landscape.

Indian Employers’ Focus on Emerging Technologies

The WEF report identifies several key technologies that Indian employers are investing in to drive business transformation. Notably:

• 35% of Indian employers believe that the adoption of semiconductors and computing technologies will significantly transform their operations. This highlights India's growing focus on advancing hardware and computing infrastructure, which are critical for AI and other future technologies.
• 21% of employers see quantum and encryption technologies as having a similar transformational impact, particularly in securing data and enabling the next generation of AI systems and cybersecurity frameworks.

The rapid growth of AI, big data, and security management professionals is reflected in the increasing demand for these roles in India. As India continues to expand its AI ecosystem, AI specialists, data analysts, and security experts will be crucial in driving the country’s tech-forward future.

Skills-Based Hiring: Moving Beyond Degrees

In response to the growing demand for AI skills, many Indian employers are adopting skills-based hiring practices. This shift marks a departure from the traditional degree-centric hiring process. Employers are increasingly focusing on practical skills and industry-relevant training to meet the demands of emerging technologies like AI, robotics, and quantum computing.

By tapping into diverse talent pools and emphasizing skills over formal qualifications, Indian employers are aligning with the global shift towards skills-based hiring. This move aims to address the skills gap and ensure that India has a workforce equipped to meet the needs of tomorrow’s tech-driven economy.

Demographic Changes and Job Growth by 2030

The WEF report projects that India and Sub-Saharan Africa will supply nearly two-thirds of new workforce entrants globally by 2030, thanks to their favorable demographic trends. India, with its large young population, is set to become a major supplier of new labor, contributing significantly to the global workforce in the coming decade.

The report forecasts the creation of 170 million new jobs worldwide by 2030, driven by several factors:

• Technological advancements in AI, automation, and robotics
• Geopolitical tensions, which will lead to the reshoring of certain industries
• Climate mitigation efforts, creating new opportunities in renewable energy and sustainable technologies

These job shifts are likely to change the global labor market landscape, with some sectors experiencing growth, while others shrink or evolve.

Job Roles on the Rise and Decline

The rise of Generative AI is expected to have a significant impact on job roles. While the demand for certain jobs, like farm workers and caregivers, will increase, roles such as cashiers and administrative assistants are predicted to decline due to automation and AI advancements. The rise of robotics and automation in various industries is set to alter the nature of work and reduce the need for certain routine and repetitive tasks.

Skills Gap: A Barrier to Business Transformation

Despite the exciting prospects of technological advancements, the skills gap remains a significant barrier to business transformation. According to the WEF report, nearly 40% of job skills are expected to change in the coming years, requiring both businesses and workers to upskill and reskill continuously.

For India, addressing this skills gap is crucial for maintaining its competitive edge in the global economy. The emphasis on AI skills development, data literacy, and technological expertise will be key to ensuring that India’s workforce is ready to capitalize on the opportunities presented by emerging technologies.

India’s AI Leadership

India’s growing focus on AI, data science, and emerging technologies positions the country as a global leader in the tech space. With a commitment to skills development and AI integration, India is well on its way to becoming an AI-first nation. The AI ecosystem in India is rapidly expanding, supported by both private sector innovation and government initiatives, including the IndiaAI Mission.

The WEF report highlights that India’s ability to lead in AI adoption will be crucial in determining its success on the global stage. By focusing on skills-based hiring, expanding AI talent, and addressing the skills gap, India is setting itself up for long-term success in a world driven by AI, automation, and emerging technologies.

Conclusion

India is set to lead the global adoption of AI, robotics, and energy technologies, with employers heavily investing in these areas. The country’s demographic trends, combined with its growing focus on skills-based hiring and technology-driven business transformation, position it as a key player in the global workforce of the future. While the skills gap remains a challenge, India’s emphasis on upskilling and reskilling its workforce will enable it to capitalize on the opportunities presented by emerging technologies. As India continues to harness the power of AI and other future technologies, it is well on its way to becoming a global leader in the future of work.

The Upcoming IPOs in this week and coming weeks are Sat Kartar Shopping,Barflex Polyfilms and Laxmi Dental.

The Current active IPO are Standard Glass Lining, Quadrant Future, Capital Infra Trust, Delta Autocorp, Avax Apparels, B R Goyal.