A recently released report titled ‘Future of the Skills Landscape 2024,’ highlighted the unease within the workforce regarding the impact of evolving technologies on job security. As per the findings, a substantial 82 per cent of working professionals express concerns about potential job redundancy due to emerging technologies.
The findings were from a survey engaging 2 lakh participants, including students, working professionals and academicians.
Despite these concerns, upskilling emerged as a proactive approach to navigate the rapidly-changing work landscape. The report stated that 78 per cent of working professionals acknowledge the importance of upskilling in navigating the evolving work landscape, indicating a proactive response to the changing job market.
The data also revealed that 90 per cent of respondents predict AI to be the most in-demand skill in the next five years, with 80 per cent anticipating AI to be the highest-paying job within the same timeframe.
The report also highlights the frequency and preferences for upskilling. Out of working professionals aged 18-55, 43.5 per cent expressed the need for upskilling every six months. Additionally, 83 per cent believe that upskilling, particularly in AI, will enhance their job opportunities, and 81 per cent of respondents who upskilled themselves last year opted for online courses.
The report identifies the top three non-technology sector jobs expected to be in high demand, that is, digital marketing, green jobs and mental health coaching. As industries prioritise environmental responsibility, demand grows for professionals with expertise in Corporate Social Responsibility (CSR), corporate governance and eco-friendly technologies.
However, the report also pointed out a notable gap between perceived importance and the actual provision of training in this critical technology domain. A total of 43 per cent of respondents expressed dissatisfaction with the lack of adequate AI training provided by their employers.
Respondents also emphasised the importance of soft skills, with employers valuing communication, adaptability and emotional intelligence.