Industry 4.0 and technology are revolutionizing the Industry. Automation, artificial intelligence, Internet of Things, and data analytics are transforming manufacturing processes, enabling real-time monitoring, predictive maintenance, and efficient resource allocation.
While these technological advancements enhance productivity and efficiency, they also bring concerns about job displacement. As automation replaces certain manual and repetitive tasks, it may lead to a shift in job requirements and a demand for new skill sets. The Future of Jobs Report by WEF states that while automation may lead to job displacement, it also has the potential to create 133 million new roles by 2025, primarily in emerging fields such as artificial intelligence, robotics, and data science.
Digital platforms and other new technological advancements have increased and further enabled opportunities for people to restructure their work models. This calls for addressing the current and future skill gaps and a major thrust on skilling, up-skilling and re-skilling and preparing the workforce of the future.
Technological advancements, changing nature of work, pandemic induced digital acceleration, have all contributed to the evolving landscape of global mobility of the skilled Indian workforce. In recent years, International migration of skilled persons has assumed increased importance, reflecting accelerating industrial productivity and economic growth globally. However, changing demographics are forcing economies to be increasingly dependent on migratory workforce (both nationally and internationally) to maintain economic growth.
Addressing these challenges will require committed and concerted action from industry and government, which will act as facilitators in scaling up skills mobility by connecting Indian skilled workforce to the global opportunities.
With this context, CII is organizing a Conference on Shaping the Future of Jobs and Mobility- Investing in Talent for Global market on 30 June 2023 in Bangalore, with a focus on initiating discussion on future of work and building skilled workforce aligned to current and future requirements on a global scale, especially among G20 countries.