Chandigarh 27th July:- Rana Kapoor, MD and CEO, YES Bank said that throughout the course of history, disruptions in technology and socio-economic patterns have presented opportunities to the one who has been best prepared to take advantage of it. The current era of disruption marked by rapid advancements in computing power (automation, AI and IoT) is a defining opportunity of our times. Like all other disruptions, the threat perception is high especially in terms of potential loss of jobs as the transformation transpires in the economic sectors and now impacts our daily lives.
To make sense of this opportunity, new age corporations need to chart out an approach to cope with constant changes, enormous expectations and an unpredictable future. Most of the time they will have to re-orient and re-calibrate their approach to ‘learning’ for developing a ‘Future Ready Workforce’, which has the capability and confidence to meet future needs. Organizations need to shift the dial from awareness to actualization, by deploying ‘learning & development’ solutions to equip employees with ‘future ready skills’ pertaining to emerging technologies and develop enhanced capabilities for driving business results in this new world.
Visualizing the Future: It is easier to plan and execute if the future is reasonably predictable. However, the exponentially increasing scope of AI and robotics is making it difficult to understand the scope of re-training or re-skilling. Thus the re-training schedule will have to deliver an on-demand, need based, seamless and personalized learning experience. While lifelong learning has become cliché in HR circles, there is a need to break the psychological barrier and enable the trend of re-skilling in mid-life professionals and entrepreneurs. This is not only to add value to the same job, but sometimes even re-skill completely to shift focus to different areas during the 40s and 50s. Fortunately, we are seeing progressive corporations in our own country spend time and resources to re-skill employees in futuristic technologies.