Key takeaways:
- Pearson held its inaugural Skills for Employability Summit in Delhi.
- The event explored the need for continuous reskilling to prepare India’s workforce for AI and other emerging tech.
- Public-private partnerships and employer-led training are key to helping India realise its economic ambitions.
As India aims for ‘Viksit Bharat’ (Developed India) by 2047, bridging the skills gap is crucial. Pearson’s inaugural Skills for Employability Summit 2024 in Delhi brought together government officials, academic leaders, industry executives, and EdTech innovators, to discuss the future of workforce skills and learning in India.
Global trends impacting work
AI and new technologies are transforming work. The IMF predicts nearly 40% of jobs worldwide will be affected by AI. This means jobs will change, not disappear, and both employers and workers will need to continually assess their skillsets and develop new skills to thrive in a tech-drive world.
There is also a shift away from traditional ‘education-to-employment' routes, in favour of multi-occupation careers that require continuous reskilling. The global skills gap threatens to cost the global economy $8.5 trillion in lost revenues by 2030, according to Korn Ferry.
Investment and education reform are crucial in tackling this. We need stronger partnerships between educational institutions and business; and we must teach how to use AI and other advanced technologies effectively. Dr. Avantika Tomar from EY-Parthenon summed it up: “The key challenge is translating knowledge imparted in universities and colleges into skills usable in the workplace.”
Pearson’s President of Workforce Skills, Vishaal Gupta, opens the summit.
India’s ‘Demographic Dividend’
India is poised to have the world’s largest working-age population by 2050. When many other countries have ageing populations, this presents a unique economic advantage. But education and skills development need improvement in order to realise this potential.
Right now, around 23% of 15-24-year-olds in India are not in education, employment, or training (NEET). Many technical and vocational education and training programmes don‘t quite meet market needs. And learning English learning is pivotal –– Pearson’s research shows it leads to better pay and more job opportunities in a rapidly changing world.
To harness this potential, we need to modernise curricula to include STEM and vocational training, addressing NEET issues by aligning education with job market needs, push further into English language learning, and integrate AI education into schools.
A path forward
I believe three key things will help India’s upskilling journey:
- Public-private partnerships: Governments and businesses must invest together in lifelong learning and better vocational education. Pearson’s work with India’s National Skill Development Corporation is a good example. We need quick action, data-driven planning, and better apprenticeship programmes.
- Employer-led reskilling: Employers must ensure training matches industry needs, especially in sectors like AI and digital transformation. They should assess current skills, plan for future needs, and offer learning programmes that boost productivity and retain talent. English proficiency at work is crucial for global competitiveness.
- Early careers and BTEC: Pearson BTEC offers vocational programmes developed with experts, educators, and employers. BTEC qualifications are delivered in 50 countries and recognised by over 300 prestigious universities worldwide. In India, Pearson partners with several institutions to offer these programmes.
How Pearson can help
Pearson is helping to meet these challenges head-on. Whether it’s upskilling in the workplace, developing a team, getting ahead in school, making the grade at university, or learning a new language, we help millions of people realise the life they imagine through learning. Our global network of test centres and solutions for English proficiency position us as a key partner for organisations and governments.
Our workforce skills capabilities include Faethm by Pearson’s AI-powered data sets that help enterprises analyse and futureproof skills. This enables organisations to identify new talent pools, work out how to develop skills at pace to stay competitive, and design a future workforce that takes account of which skills can be automated or augmented by AI.
Closing skills gaps and building competitive workforces require collaboration between employers, governments, and institutions. Success depends on more investment in skills and infrastructure, aligning training with industry needs, and creating a comprehensive skills ecosystem. Pearson is a committed partner to helping India achieve its vision for ‘Viksit Bharat’.
Highlight reel: Skills for Employability Summit 2024
Authored by Vinay Kumar Swamy, Country Head, Pearson India.