Nearly 51% of Indian respondents in a PwC survey titled ‘India Workforce Hopes and Fears Survey 2023’ believe that AI will increase their productivity at work compared with about 31% of global respondents, provided their organisations support with upskilling opportunities.India can take the lead in incorporating Artificial Intelligence (AI) technology into business if the industry focuses on the right upskilling approach, according to a report by professional services firm PWC.
Nearly 51% of Indian respondents in a PwC survey titled ‘India Workforce Hopes and Fears Survey 2023’ believe that AI will increase their productivity at work compared with about 31% of global respondents, provided their organisations support with upskilling opportunities.
“Amidst the rising uncertainty and seismic impact of AI, the workforce is demanding more from their employers on all counts. The workforce is not settling with competitive compensation only but also a deeper job satisfaction, and faster growth opportunities to fulfil their aspirations,” said Anumeha Singh, Partner, PwC India.
“To thrive, organisations and leaders will need to make some tough choices while blending adaptability with innovative workforce structures and career pathways, for an ever-evolving landscape,” added Singh.
Nearly 62% of Indian employees believe the skills required to do their jobs will change significantly over the next five years; 69% of them are also aware of how these requirements will change. The Indian respondents are also 15% more confident as compared to their global counterparts that their employer will provide them with the necessary tools and opportunities to develop the requisite skill sets.
The report also highlights that the Indian workforce is restless, with 42% of employees indicating that they are likely to change jobs in the next year due to expectations of better pay packages and promotions as compared to 26% globally.
While a significant number of organisational efforts are focussed on the younger generation, the PwC survey found that managers and senior executives will also need attention.
Kartik Rishi, Partner, PwC India said, “Most Indian leaders are aware of the criticality to transform their workforce for the future success of their businesses. Similarly, as their work and workplace are undergoing significant changes, employees in India are highly aware of the urgency to upskill, it increasingly becoming an important factor in their career decisions.”
“However, organisations continue to adopt a much lesser focus on skills, especially those for the future, in their talent strategies and programs. Adopting a forward-looking, skills-first approach, which is integrated in their business processes will be a key factor for leaders in sustaining businesses over the next decade,” added Rishi.
About 24% of the respondents from India believe AI would impact the nature of their work in a negative way, 10% more than the global average. Furthermore, 21% of the Indian respondents believe that AI will take over their job as compared to 13% of the global respondents.
The most common sentiment, expressed by 51% of the Indian respondents, is that AI will help them boost productivity or efficiency at work in comparison to 31% of global respondents.
The survey also shows that employees in India are more likely to ask for a raise, promotion or switch job than their global counterparts.
Nearly 70% of India participants, as against 35% of their global counterparts, are willing to ask for a promotion (compared to 59% last year during the Great Resignation). Millennials are keener on pay hikes (74%) and promotions (74%) as compared to Gen Z, Gen X and boomers. Across levels, 73% senior executives, 70% managers and 63% non-managers are expected to ask for a pay raise.