‘Automation disrupting industry’

McKinsey predicts that by 2030 as many as 800 million jobs could be lost worldwide to automation.

By Author  |  Business Bureau  |  Published: 13th Oct 2018  10:59 pm
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Hyderabad: Robotic process automation (RPA) and artificial intelligence (AI) are changing the dynamics of the industry. RPA which was valued at $271 million in 2016 is projected to touch $1.2 billion by 2021, growing at a rate of 36 per cent year-on-year.

Gartner predicts that AI will create 2.3 million jobs by 2020, while eliminating 1.8 million jobs. McKinsey predicts that by 2030 as many as 800 million jobs could be lost worldwide to automation.

Highlighting how technology is shaping the processes, TalentSprint MD and CEO Santanu Paul, said, “In an era of extreme automation, expertise premium is increasing and experience premium is coming down. Automation is extensively being used in multiple sectors including healthcare and aviation. The time has come where great skills will lead to great jobs and vice versa.”

Gautham Parcha, chief solutions architect, Pegasystems said, robotic process automation is becoming an end-to-end offering and artificial intelligence is being used by the company across the functions.

To improve the skills, Pega through its Pega University Academic programme has produced thousands of Pega Certified professionals. For the year 2018-19, over 1,000 students had been certified. Each year, the company has been offering placements to these engineering students. What started off with just two colleges in 2016, the programme will be expanded to 16 colleges in 2019.

“We are competing with the likes of Salesforce and Oracle in the customer relationship management (CRM) space,” Parcha added.

Hari TN, Head-HR, BigBasket says, IT employment has now plateaued. There is no growth in job creation. Automation is replacing job growth. The challenge that India is facing is that the nation is educated but not skilled. The education system has failed and thus needs to be transformed. There is a need for vocational universities where 80 per cent time is spent in industry and 20 per cent in campus.

They were speaking at TalentSprint’s Confluence 2018 focused on the theme- Extreme Automation: Get Ready for the New Normal. Telangana Chief Innovation Officer Phanindra Sama formally launched a programme on artificial intelligence and machine learning for college students. The programme enables students to be able to develop applications using AI/ML and equip them start their career in these deep-tech segments.