3 Out Of 4 Indians Fear Technology Will Replace Their Jobs: Study

Technological disruptions are driving Indians’ increased desire to upskill, with as many as 3 out of 4 working professionals believing that technology will replace their jobs if they do not continue to develop their skillset, as per the recently released Emeritus Global Workplace Skills Study 2023 from Emeritus.    

With technological advancements shaping every sector, the World Economic Forum’s report in 2020 estimated that at least 40 per cent of the employees across the world would need “new skills” in the coming years and “would be expected to perform distinct roles within their companies”. About 92 per cent of the Indians agreed that they face a skill gap regarding employability, as per a McKinsey Survey. 

Pointing towards a future where continued education is the norm, the Emeritus Global Workplace Skills Study 2023 found that the professionals from Finance and Insurance, Software and IT services, Healthcare and Manufacturing, among other industries are most concerned about technology replacing their jobs if they do not upskill. Most Indians expressed concerns around experiencing a skill gap and feeling pressure to keep up in the fast-changing job market.   

With increasing technology penetration accelerating the demand for tech professionals in the country, over 80 per cent of Software and IT services professionals surveyed expressed their concerns about technology replacing their jobs, unless they continued to upgrade their skillsets, as per the study. The same percentage stood at 81 per cent for healthcare professionals, 79 per cent for those working in Technology & Innovation, 78 per cent for those involved in Professional Services/Consulting, and 72 per cent among those from Finance and Insurance.  

For the Indian workforce working in various sectors, digital marketing, data analytics, finance, management and Artificial Intelligence (AI) were among the most sought-after topics for the professionals, as per the study.  This is visible from the demand and supply gap witnessed in these sectors. For instance, a recent report from the IT industry apex body Nasscom found that there is a 51 per cent gap between the demand and supply of skilled AI/ML talent in India.  

The third edition of the Global Workplace Skills Study 2023 was conducted by Emeritus through its extensive survey of 6,600 professionals aged between 21 and 65 across 18 countries, including India, US, China, UK, Brazil, Mexico and UAE, to understand how the global workforce is leveraging online education to navigate through uncertain times. The study surveyed a total of 1,720 Indians aged between 21 and 65 years, hailing from across 20 tier-I and II cities in India. Some of the other key findings from the report include the following:  

• Tech disruption across sectors is evident through professionals from across sectors taking a keen interest in honing their tech prowess. While a total of 94 per cent of software and IT professionals and 93 per cent working in technology and innovation took an interest in upskilling around tech subjects, 86 per cent of manufacturing sector professionals also showed an interest in learning how they can leverage technology tools.  

• Among those in Professional Services/Consulting, the interest to pursue higher education, because of the macroeconomic factors, stood at 85 per cent, while for those in software and IT services, it stood at 77 per cent. About 76 per cent of professionals in manufacturing also took to further education to stay resilient against global changes.  

• The need to increase self-confidence, increase their job security and enhance their skill sets, were among the key motives for Indian techies working in software and IT services to upskill.  As a result of upskilling opportunities, Indian professionals also expressed satisfaction at workplace. About 80 per cent of the respondents said they would be more loyal to their employer if they invested in continued education.  

• One in every three Indians from various industries was interested in pursuing further education to better comprehend opportunities and strategic implications of new technologies in their organisation. 

The surveyed Indian professionals hailed from diverse sectors such as Software and IT services, Finance, Insurance, Education, Manufacturing, Technology and Innovation, Healthcare, Engineering and Construction and Retail, among others. The median age of the respondents was 39, with an average work experience of 12 years.