International Data Corporation (IDC ) has published a new report that provides an overview of Indian organizations’ skill development plans in the near future. This IDC report provides insights into organizations’ skill development goals, the importance of technology skills in digital transformation goals, and the overall business impact arising from lack of skills.
The report also showcases how organizations plan to acquire or develop critical skills such as Artificial Intelligence/Machine Learning (AI/ML), cloud, and data analytics within their businesses in the next six months.
With an aim to meet business goals along with accelerated digital transformation, the report showcases how lack of skills impacts meeting the business objectives.
“About 76% of respondents stated that lack of skill sets in employees impacts customer experience/customer satisfaction and profit growth. Reskilling workforces would help them in staying ahead of the technology adoption curve, meet changing business demands, and customer expectations,” says Rishu Sharma, Associate Research Director, Cloud and AI at IDC India.
Some of the key findings of the report are:
- About 74% of the enterprises stated that lack of skill impedes overall innovation.
- About 30% of organizations plan to focus on artificial intelligence/machine learning (AI/ML) as the key areas to hire or reskill their workforce in the next six months.
- About 50% of respondents find it significantly difficult to develop softer, non-technical skills in the next six months.
Enterprises, thus, should identify skill shortages and target areas/departments that should undergo skill enhancement. While technology skills such as AI, ML, and cloud become critically important for organizations to target new revenue opportunities, enterprises are becoming aware of employee reskilling and upskilling.
“Businesses should start with creating awareness about training programs within the workforce, including LOBs and IT. A training program should include comprehensive technology skills. Organizations must start with relatively small training investments, and should examine outcomes to understand how well skill development initiatives are working,” says Swapnil Shende Senior Market Analyst, Artificial Intelligence at IDC India.
