As of 2024, India’s growth is unpredictable. The job market in India is undergoing revolutionary changes that uplift the chances for freelancers and remote workers more than the traditional 9-to-5 jobs. Technological advancements, AI floods, and globalisation have made the transition easier, pointing towards an evolving employment landscape crucial for building a stable chair in this dynamic environment. The future of work in India is more than we can imagine.
The surge in the gig economy opens new doors of opportunity for freelancers. The innovations go beyond the IT sector, transforming scenarios in sectors such as finance, education, and manufacturing. In order to experience the premium effect of this transformation, one needs to acquire certain skills to compete against the threats that the modern AI world is immersed in. In this blog, we discuss the future of work in India and how the introduction of AI can direct it to the next dimension of growth. Stick on to us to be a part of the ever-growing Indian workspace landscape.
The future of work; the role of AI and emerging technologies
The Indian economy is being transformed by AI innovations and automation technologies. In the past 30 years, the Indian economy has surpassed all the predictions by showing an active line that goes up daily. Globalisation has removed geographical barriers, connecting innovators across the globe for futuristic technological advancements.
With AI, companies can significantly increase the potential for quality output. AI and automation systems help firms analyse vast amounts of data to create personalised experiences, which are important in connecting with wider, long-term audiences. Although AI can take over many parts, the human role will be at its peak. Through practical problem-solving skills, creative ideas, and execution, the human intellectual spectrum can go hand in hand with the AI revolution.
A new study was conducted in 2023 about artificial intelligence and its role in Indian workspaces solutions. The study by UKG, a leading workforce management solution, derived key insights into what employers think of AI and what the employees are looking forward to in the AI interference in their workspace. In the study, 62% of employees opined that AI is relevant to either keeping their current job or finding one suitable to their talents. 90% of employees believe they deserve higher pay for their familiarity with AI.
95% of Indian employees believe AI can improve their quality of life by helping them finish tasks on time, thereby providing a balance between their professional and personal lives. The study was conducted in multiple countries, including India, the UK, and the US. It gave meaningful data about what people think of AI globally and in India. As a workspace provider in India, we understand that the future of the world is transforming with digitalisation and AI innovation.
Educational role in the future of work in India
Broader adoption of AI and automation is making the educational role more crucial than ever. To reinforce the workspace with talented employees, courses that nourish one’s creativity, critical thinking, and familiarity with AI innovation are important. By incorporating AI-related courses into the curriculum, India can prepare the students with the necessary expertise to sustain themselves in the AI-dominated job market.
Future of work in India: 3 industries where changes are inevitable
Let’s understand how AI and automation will change the future of existing highly manual-centred industries.
Agriculture field
Agriculture is the basis of India. We export vegetables, fruits, and other commercial crops to different parts of the world. The advancement in the agriculture industry can be the root of leading India to the top of the world. In the past, farmers depended on traditional methods for harvesting and seeding. Currently, technological progress like drip irrigation and drones makes their work easier. The future is AI-centred to make the agriculture process a smart one, although our agriculture industry is shaken by structural inequalities, poverty, and low capital investments.
Financial sector
The financial sector is developing rapidly. India is going through digitalisation, popularising digital transactions over traditional cash transactions. New financial institutions are emerging, including RBI-approved small-scale financial institutions where personal loans, home loans, and agricultural loans are available at the lowest interest rates. UPI transactions, credit card communications, and bank transfers have become common in rural areas of India. The future of India in the financial sector will use the advantage of blockchain and digital currencies for national and international transactions. The future of work will be more about the new invention of digital currencies and less about traditional cash transactions.
IT sector
2024 is witnessing rapid growth in the IT sector. The second half of 2024 will see a huge demand for generative AI and automation. The IT sector is adapting flexible roles, focusing on remote workers rather than permanent staffing positions. The demand for data engineers and cloud architects is on the edge. The hiring trend keeps a 50:50 ratio between permanent and flexible staffing positions. Junction, the best workspace provider in India, has seen a surge in the IT sector for AI-integrated roles.
Final line
The future work in India is promising for those who are ready to seize the moment with the changing landscape of the workspace. We are developing a comprehensive service that offers flexibility and modern aspects to the concept of office spaces in India. Contact us to learn more about our workspace services.
