At a recent Horasis event, Rajiv Kaul, Chairman of Nicco Group and Past President of the Confederation of Indian Industry (CII), shared his insights on the intersection of automation, digitization, and employment, with a focus on Australia and India. Discussion of Rajiv Kaul highlighted the need for a balanced approach to technological advancements and preserving employment opportunities.
The Evolution of the Job Market
Reflecting on historical technological shifts, Kaul observed how initial fears of job loss were counterbalanced by the changing nature of jobs and the rise in productivity, ultimately leading to job creation. In the current era of artificial intelligence and tools like ChatGPT, the emphasis is on enhancing efficiency and expediting outputs.
Skill Development in the Digital Age
Kaul emphasized the importance of acquiring scientific and engineering-related skills through training and exposure. He pointed out the availability of short and accessible training programs, making it feasible for individuals to upgrade their skills in response to the evolving technological landscape.
Language and Education: Bridging the Gap
A key advantage for India and Australia, as highlighted by Kaul, is their common language – English, which eases the adaptation of skills in both countries. He suggested that Australian universities could benefit Indian students by establishing campuses in India, providing cost-effective and accessible higher education.
Managerial vs Technical Skills
Kaul made an important distinction between managerial skills, which remain relatively constant over time, and technical skills, which require regular updates. Short courses, he noted, can effectively augment technology skills.
Digital Transformation: Challenges and Opportunities
Highlighting his experiences with international business, Kaul noted that digitization has significantly reduced challenges, especially in remote collaborations. He emphasized that the COVID-19 pandemic accelerated the adoption of remote working, making global business interactions more efficient.
Job Creation in the Digital Era
In the realm of digital transformation, while clerical and repetitive jobs may be phased out, new opportunities in cloud computing, cyber security, and data analytics are emerging. Kaul reassured that fears of job loss are unfounded, provided individuals are willing to adapt and acquire new skills.
Rajiv Kaul’s conversation at the Horasis event underscores the importance of embracing digital transformation, the need for continuous skill development, and the vast opportunities that arise from a digitally connected world. His insights shed light on the evolving landscape of employment and the critical role of education and training in this transformation.