Revolutionary capital-intensive AI technologies and robots are spreading fear of lay-offs and part-time employment for workers tardy about re-skilling and upgrading their skills. The message is going out to all employees from executive suites downwards: upskill or else writes Dilip Thakore With the invention of a bewildering mix of new technologies — AI, machine learning, blockchain, robotics, bio-medicine, green energy, EV (electric vehicles) and new sustainable climate technologies — making headlines in the print, electronic and social media, pervasive fear of redundancy and obsolescence is spreading countrywide. In corporate offices across the country, managements are discussing the impact of disruptive new technologies as they struggle to remain competitive with domestic and off-shore competitors in markets slowed by global inflation and falling consumer demand. The message is going out to all employees from executive suites downwards: upskill or else. Revolutionary capital-intensive AI technologies and robots are spreading fear of lay-offs and part-time employment for workers tardy about re-skilling and upgrading their skills. Speaking to a Times of India reporter (June 12), Saurabh Govil, head of human resources at IT behemoth Wipro Ltd, warned that in the current business environment of economic slowdown and lower hiring, IT professionals should focus on upskilling. According to Govil, the IT and ITES (IT enabled services) industry has reached a level of “sanity” on the issue of salary increases. Increments will depend on individuals’ reskilling and upskilling themselves. “In 2021, people had a lot of opportunities, our attrition was high and people were being hired at 30 percent premiums. That will not happen now. Now, niche skills like generative AI and cybersecurity will get a premium,” said Govil. Govil’s remarks are indicative of corporate sentiment across the spectrum of India Inc. With competition and inflation exerting pressure on margins, top managements have to improve employee productivity and can’t afford to have change-resistant employees on their payrolls. The best companies are signing up their most promising managers for company-paid executive programmes offered by top-ranked B-schools in India and abroad. Less favoured managers are expected to sign up for after hours and week-end programmes to remain contemporary and acquire additional skills and apply them pronto, to avoid being sidelined or sent away to remote regional offices. This sudden fear of obsolescence is being experienced even on the factory shopfloors of Indian industry. “Across India Inc, especially in large companies confronted with the prospect of international competition, the new mantra is more with less. Although they pay high salaries, they are downsizing and expect managers to be multi-skilled and ahead of the learning curve in adopting new technologies. Therefore, savvy, on-the-ball professionals in IT and ITES companies are enrolling with edtech companies to become acquainted with new products and processes so they can change domains if necessary. Moreover 21st century young professionals are totally different from their predecessors who were content with steady progress up the corporate hierarchy. They appreciate the necessity of acquiring new skills to remain in the race. Most of them are also anxious to acquire…
