The loss could be to the tune of $1.97 trillion in GDP.
Skills gap may cost India dear, says a report by Accenture. The loss could be to the tune of $1.97 trillion in gross domestic product (GDP) growth that investment in intelligent technologies over the next decade could fetch.
The report titled "Fueling India's Skill Revolution" says that advanced technologies like artificial intelligence (AI), augmented/virtual reality (AR/VR) and Blockchain can be the tools for rapid reskilling and upskilling at scale, as
These technologies can help people learn these new skills quickly, efficiently and cost effectively, the report said.
ET quoted Rekha M Menon, Chairman and Senior Managing Director at Accenture in India, who said, “We must offer more experiential on-the-job training and help people adopt life-long learning as their jobs are transformed. Digital tools and applications - like artificial itelligence, analytics and blockchain -- will be essential in delivering these new learning approaches.”
The report points out that traditional teaching and learning methods cannot hope to teach skills such as complex reasoning, creativity, and socio-emotional and sensory perception.
Intelligent technologies require exclusive human skills such as creativity, empathy and ethical judgment and these cannot be learnt in the classroom, says the report.
The report suggests a framework based on a combination of a suite of innovative learning methods grounded in neuroscience research for making skill development more effective.
According to this framework, a person’s learning journey can be augmented by a combination of digital technologies.
AI, for instance, can help with content curation and dissemination to ensure that students are aware of the skills they need. The reports says that AI-based adaptive programmme can build specific pathways to tailor learning to individual needs.
AR/VR technologies also enable immersive training to make people job-ready and blockchain-based micro-credentials can help individuals stay on the path to lifelong learning and build deeper expertise.
The report recommends that government departments, industry bodies, academia, non-profit organizations and corporates come together to build a comprehensive skill-based learning path in schools and colleges. It also suggests adapting curriculum in institutions of higher learning to cater to the broader needs of the digital economy.