On one hand, enterprise adoption of AI technologies in India is booming. A PwC report indicated that 36 per cent of the financial institutions such as banks and insurers have invested in artificial intelligence-focused technologies, while 70 per cent plan to embrace it in the near future. There has been a spurt in AI-focused innovation centres to utilise the capabilities of AI, robotics and RPAs. The report explained, how business models are opening up with banks developing virtual assistants. Insurers, for example, are relying on real-time sentiment monitoring tools to create “off-ramps,” directing customers to human agents when appropriate.
But in a similar vein, former Infosys CEO Kris Gopalakrishnan, co-founder and former CEO of Infosys reportedly shared the need for IT professionals to upskill, especially in areas related to machine learning, AI and neurosciences. “We need to figure out what jobs of the future are, the skills that would require and ensure we acquire those skills,” he was quoted by ET.
According to Gopalakrishnan, there is a convergence of biology and computational sciences with biostatistics being one of the upcoming jobs. With an increased interest in semiconductor, designing new chips and processors for machines are other hot jobs for the youth to pursue.
The PwC report indicates that to deploy the technology successfully, one should also focus on re-aligning the talent according to the industry’s needs. Given how the technology is evolving, the learning curve will be steep and human resources play a key role in carrying projects. If enterprises wish to succeed they should train people to adapt to the new technologies. In fact, many financial institutions are now relying on blockchain, RPA and virtual assistants to increase efficiency and unlock cost savings and digitise the IT infrastructure. The PwC report forecasts the growing usage of digital tools, however, talent pipeline will have to be created to realise the economic gains from emergent technology.
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Richa Bhatia is a seasoned journalist with six-years experience in reportage and news coverage and has had stints at Times of India and The Indian Express. She is an avid reader, mum to a feisty two-year-old and loves writing about the next-gen technology that is shaping our world.