Indian employers plan to outpace global peers in future tech adoption: World Economic Forum (WEF)
- IBEF
- January 9, 2025
India is set to lead the global adoption of several future technologies, with employers heavily investing in Artificial Intelligence (AI), energy technologies, robotics, and autonomous systems, according to the World Economic Forum’s (WEF) "Future of Jobs" report. The report highlights that 35% of Indian employers believe that adopting semiconductors and computing technologies will transform operations, while 21% foresee quantum and encryption technologies having a similar impact. These trends align with global projections, particularly in the growing demand for AI, big data specialists, and security management professionals. India is also tapping into diverse talent pools and adopting skills-based hiring, with companies moving away from degree requirements to meet the growing demand for AI skills.
The report forecasts significant shifts in the global labor market, with India and Sub-Saharan Africa projected to supply nearly two-thirds of new workforce entrants due to demographic changes. It predicts 170 million new jobs by 2030, with technological advancements, geopolitical tensions, and climate mitigation efforts driving these changes. While some job roles, like farm workers and caregivers, will increase, others, such as cashiers and administrative assistants, will diminish due to the rapid impact of Generative AI. The skills gap remains a significant barrier to business transformation, with nearly 40% of job skills expected to change in the coming years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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