Job Loss Fear Due to Technology: 75% Indians Fear Tech Will Replace Their Jobs Unless They Upskill, Finds Report

Mumbai, August 7: Technological disruptions are driving Indians' increased desire to upskill, with as many as three out of four working professionals believing that technology will replace their jobs if they do not continue to develop their skill set, according to a report on Monday. The Emeritus Global Workplace Skills Study 2023 report by edtech company Emeritus showed that the professionals from finance and insurance (72 per cent), software and IT services (80 per cent), healthcare (81 per cent), technology and innovation (79 per cent) and professional services/consulting (78 per cent), among other industries are the most concerned about technology replacing their jobs if they do not upskill.

Most Indians expressed concerns around experiencing a skill gap and feeling pressure to keep up in the fast-changing job market.  Further, the study showed that the most sought-after topics for the professionals included digital marketing, data analytics, finance, management and Artificial Intelligence (AI). The need to increase self-confidence, increase their job security and enhance their skill sets, were among the key motives for Indian techies working in software and IT services to upskill. Tech Layoffs Continue! Cybersecurity Firm Kape Technologies Lays Off Nearly 200 Employees.

As a result of upskilling opportunities, Indian professionals also expressed satisfaction at the workplace. About 80 per cent of the respondents said they would be more loyal to their employer if they invested in continued education. “We learn from Indian professionals across sectors that the fear of job displacement due to technological disruptions is a growing concern. However, it is encouraging to note that 83 per cent of the Indian respondents are keen on upskilling through a reputable learning provider as it allows them to achieve their career goals,” said Mohan Kannegal, CEO, India and APAC, Emeritus, in a statement.  AI Eating Away Jobs: Artificial Intelligence Will Take More Jobs From Women Than Men by 2030 in US, Reveals Study.

The report is based on a survey of 6,600 professionals aged between 21 and 65 across 18 countries, including India, US, China, UK, Brazil, Mexico, and UAE, to understand how the global workforce is leveraging online education to navigate through uncertain times.  The study surveyed a total of 1,720 Indians aged between 21 and 65 years, hailing from across 20 tier-I and II cities in India.