5 Industries that Require Upskilling and Reskilling in 2019 CareerMetis.com

5 Industries that Require Upskilling and Reskilling in 2019 Source: Pexels.comWith an unprecedented advancement of technology in every realm of life, it’s an uphill task to move along without upskilling ourselves. While technology scales down workforce requirements, it stretches our creative abilities to a great extent.So while we are at it, it’s best to upskill and reskills the manpower to make the best use of all the technological advancements happening around.If you refer the study called ‘Future of Jobs in India,’ jointly commissioned by NASSCOM and FICCI, the retail, IT/ITes, textile apparel, automotive, and financial services, sectors are looking out at significant technological advancement in years to come.evalWhile there might be job cuts due to the technical foray, it will also add 9% additional types of jobs and around 37% of the existing workforce, would require advanced skill sets.With NASSCOM putting it clearly, over a 40% Indian workforce is going to need either an up-skilling or reskilling, within the next five years t o sustain what’s coming at us with full throttle. In present times, we are all already getting the taste of Artificial Intelligence, Machine Learning, Blockchain or IoT in every sector.Let’s get an overview of five such sectors that are looking at a massive re-jig of reskilling and upskilling in the years to come1) BFSIAs we speak of the Banking, Financial Services, and Insurance sectors, popularly called the BFSI sector, India has witnessed immense potential and sequential growth here. As per a PWC report, the industry saw a whopping 1.8 billion USD investment in 16 deals, in Q4’17. With so much going on for them, all top banks are shelling out more and more to improve their services and systems. Mobile banking or digital banking isn’t for the minority population now, it’s real, and it’s here to stay.The change is so visible with the current Prime Minister’s call for ‘Digital India’ and then ‘Demonetisation’ that paved the way. It is drastic, and it is require d.Today, traditional banks are following the lead and joining hands with technology firms to offer the best services to their customers. With changes happening so fast, banks are trying to rely on employees who come along with the diverse and scalable skill set to adapt and adapt to the changes that might happen in years to come. Josh Bottomley, Paul Sallomi E-commerce might have forayed late to the country, but it is indeed the fastest-growing segment today. Smartphones have led to a vicious marketing phenomenon that is exceptionally penetrative. As per India Brand Equity Foundation (IBEF) the Indian e-commerce market is expected to grow to US$ 200 billion by 2026 from US$ 38.5 billion as of 2017. And, most credit goes to the easy reach of the internet and access to smartphones.Innovations triggered by technology enablement and reach like digital payment gateways, the customer connects, and engagement channeled by precise data analytics and digital advertising is likely to propel f urther growth in the sector. The digital marketplace calls for skilled SEO professionals to allow organizations to create their own space in the surging crowd. Then there are Data Analysts to assist organizations source and analyze information that helps them stay valid in the industry.5) HealthcareHealthcare is one of the major sectors that has been dramatically impacted by this wave of technology. With medical professionals riding high on newer machinery to assist correct diagnosis, curing the sick is also becoming easier. The segment brings a promise of a better quality of life, both for the patient and the medical personnel. So, it’s essential for everyone involved to ride high on the wave keeping a steady balance.Online health consultation has bridged the barriers between patients and specialists separated by geographical distances. While the Electronic Health Records (EHRs) help collate important patient records at a centralized database, accessible by relevant agencies. Eve ntually coming in handy for enhanced patient care through precise sharing of patient information in times of need. Big Data and Cloud Computing play a significant role here.While these only display the tip of the iceberg, it is a fact that more requires to be done to bridge the gap between the desired skill set and the skills currently available with ease.These technological advancements across different industries and the continually enhancing demographic shift of the labor market is a thing to watch out for as the world forays into a new year and the years beyond it. How we decide to optimize our resources going forward will be highly dependent on interrelated technologies and how we make the best of it, will be dependent on our multi-skilled labor.Industries will open up to work which brings in scalable and future relevant skillset. While robots take up a man’s role, there will be skilled workmen guiding the robot around and controlling the buttons. Workers who understand the r elevance of technologies like IIoT and references drawn from the Big Data.Salesforce which can connect with the customer real-time and enhance engagement levels. Yes, the coming years would call for all of this and more. Let’s accept the great wave of technology with complete conviction.