Chennai : Re-skill is the one mantra that can prepare the $154-billion-strong information technology industry for the challenging future that lies ahead. The industry is marching on to become $350 billion by 2025, and to reach that aspiration, goal re-skilling employees is critical, said R Chandrashekhar, President, Nasscom.
The IT industry is continuously pounded by newer and powerful technologies like automation and by political and economic upheavals globally. It has to create a niche for itself and once again repeat the cycle of learning, unlearning and relearning. The industry needs to re-skill nearly 1.5 million people, he said welcoming participants at 14th edition of two-day Nasscom HR Summit.
On automation, he said it is a global force but adoption will take time. Pace of change has accelerated significantly. The industry is facing a unique turbulence. Disruptive technologies are eliminating jobs and creating new jobs. For example, the US loses 21 million jobs every year due to technology and business changes but creates over 23 million jobs, he said.
Nasscom Sector Skill Council has identified 55 new job roles and 155 new age skills. These will be relevant for future. Big data and analytic are examples of new technologies and market opportunities in these are expected to grow by nearly 8 times to 16 billion by 2025. There is a huge spurt in demand for business analysts, solution architects, data analysts and data scientists, he said.
On the side-lines of the HR summit, Nasscom announced winners of Digital Skills Awards 2017 to highlight the initiatives undertaken by technology firms to develop digital capabilities among existing and future workforce.
Awardees are Infosys Ltd – for digital academy; iNautix Technologies – Digital Pulse; L&T Technology services – transformation programme for digital re-skilling; Mindtree – Digital engineers for tomorrow; Saviant – Digital skills development programme; CSS Corp Pvt Ltd – In-house learning academy; and Hughes Systique Pvt Ltd – Facilitating re-engineering of its workforce at all levels of the pyramid.
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