Re-imagining the automation disruption
The
future will be tamed by those who are able to unlearn quickly, pick up new
skills and collaborate effectively, as turnaround times reduce dramatically and
go-to-market gets quicker
It’s
called the Fourth Industrial Revolution. Curiously, rapid developments
happening in fields previously thought to be disjointed are now amplifying each
other.
We
are seeing this in the areas of artificial intelligence (AI), machine learning,
robotics, nanotechnology, 3D printing, genetics and biotechnology. On a
different tangent altogether, smart systems are able to address a diverse set
of issues ranging from climate to supply chains. What must be underscored here
is a sense of urgency. Perhaps less than five years is what we have to enable this
transition.
A
WEF (World Economic Forum) report which was released last year referred to an
alarming piece of statistic—65% of children entering primary school today will
end up working in jobs that don’t yet exist. “Alarming” if we don’t prepare
now, but it can be hugely rewarding if we do, as it provides an opportunity for
humans to acquire better skills. This isn’t a robotic apocalypse as some
quarters would have us believe.
It’s
a time to AQT (pronounced “act”).
As
an illustration, AQT is a popular automation framework developed by Tech
Mahindra to deliver continuous increase in business efficiency (faster,
cheaper, better) for our stakeholders and ourselves through intelligent
automation. AQT is implemented using our AQT Toolkit to achieve year-on-year
productivity improvement, straddling across task-driven to knowledge- driven
(basic, robotic, autonomous and cognitive). A simple formula acts as the
guiding principle here: A (automation) = Q (quality) / T (time).
Machines
continue unabated in pursuit of mimicking humans, and seem to be making
astounding progress. If we see from an Indian IT industry standpoint,
automation of jobs has already led to decoupling of productivity and
employment.
At
the time industry revenue was $100 billion, there were three million people in
direct employment. It is expected that the next 100 will require anything
between 1-2 million people only.
Martin
Ford, in his popular book, The Rise of Robots, has estimated the amount
of data stored globally to be in the range of thousands of exabytes (an exabyte
is equal to a billion gigabytes). And, Moore’s Law is very much applicable—data
doubling every three years.
All
this data comes from different sources and resides in unstructured form.
It
is but inevitable that skills in data science/computer science will be in great
demand, as we leapfrog towards data-based decision-making in business,
including almost every other aspect of life.
The
idea of machines and humans coexisting as co-workers to complement each another
is arguably a more realistic one than AI replacing humans completely.
Repetitive jobs, including those with a very high degree of predictability are
likely to get replaced by machines. This may not be such a bad thing after all.
It may actually free up humans to enable them to become knowledge creators or
curators in pursuit of higher cognitive skills.
It
is estimated that by 2020, in most occupations, at least a third of the desired
core skill sets will be comprised of skills that are not yet considered crucial
to the job.
With
such powerful and complex technologies doing the rounds, there will be a
distinct need for people with great persuasive skills who are able to put
forward the value proposition cogently and clearly, in the minds of buyers.
Perhaps EQ (emotional quotient) will have a greater appeal than what it has
today?
The
global tech spend in 2014 was approximately $2.7 trillion. By 2025, this figure
is expected to touch $4 trillion or thereabouts. Now in 2014, all of 90%
constituted traditional tech spend and only 10% was towards digital.
However,
in 2025, it is widely believed that this ratio would be 60:40 in favour of
digital. Is the talent pipeline robust enough to enable this shift? We don’t
want a supply side constraint.
There
is a shortage in the market today of people who are equipped with the necessary
skills to ace digital opportunities. Undeniably, the rate of obsolescence is
very high. In the earlier industrial revolutions, it often took decades to put
training systems in place.
Obviously,
this one will not allow such leeway, and so it is essential that this challenge
be taken up by stakeholders (government, industry and academia) in tandem by
complementing one another, rather than outdoing each other through silos. The
future will be about collaborative models which will aid differential
approaches to sync together in a giant-sized jigsaw.
There
is also a “dark side to digital” which continues to raise its ugly head through
unending cyberattacks. Battlefields of the future will be in cyberspace, as
keyboard warriors try to wrest control. At Nasscom, we believe cybersecurity to
be a $35 billion opportunity by 2025, and there is a definitive charter to
create 1 million jobs, and also spawn 1,000 start-ups in this domain.
However,
behind every cloud is a silver lining. The Indian IT industry has ridden many
disruptive waves in the past, and this time too, it will be no different.
The
future will be tamed by those who are able to unlearn quickly, pick up new skills,
work in flatter organizational structures, and collaborate effectively, as
turnaround times reduce dramatically and go-to-market gets quicker.
Let
us see this as an opportunity to re-skill ourselves to add value, stay relevant
and move continually up the proverbial value chain that we keep referring to.
C.P.
Gurnani is chairman of Nasscom and managing director of Tech Mahindra Ltd.
Source | Mint – The Wall Street Journal | 15 February
2017
Regards
Pralhad
Jadhav
Senior
Manager @ Library
Khaitan & Co
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