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Are You Skilled Enough to Co-exist with Robots?

By Finserv MARKETS - Jul 31,2019
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Personal Loans – Finserv Markets

Upskilling is Essential in the Age of AI: Here are 5 Ways to Upskill Yourself

In 2016, the then World Bank President, Jim Yong Kim caused quite a stir when he said that 69% of jobs in India will be lost to automation. No doubt, the World Development Report 2019 from the Bank has since sought to allay the fears over job losses, turning the focus on to fresh jobs created by the technology-led disruption. It says:

  • Technology is reshaping the skills needed for work. The demand for less advanced skills that can be replaced by technology is declining.

  • At the same time, the demand for advanced cognitive skills, socio-behavioral skills, and skill combinations associated with greater adaptability is rising.

Read between the lines here. Does it not imply that unless you reskill/upskill yourself you will lose out to robots, Artificial Intelligence (AI), Machine Intelligence (MI), Digital Learning? So you have to learn how to handle these technologies to survive.

Sure this calls for unexpected expenditure and if you are short of money, you have to consider taking a personal loan. Visit Finserv MARKETS and familiarize yourself with personal loan products offered leading players such as Bajaj Finserv, even as you search for free online courses to start your 5-step upskilling journey.

 1) Register for a Massive Open Online Course (MOOC)

India tops in enrolments for MOOCs offered by global universities, leading professors at elite universities and startups such as Coursera, EdX, Udacity, XuetangX, FutureLearn and the Indian government’s Swayam.

The courses range from engineering, law, technology and cutting-edge applications in robotics, AI, MI, DL and flying cars. Remember, free modules may not necessarily lead you to a job or win you a salary raise. It is better to choose paid courses that offer certifications and have tie-ups with employers and universities. Look out for the monthly subscription models and you should be able to afford one with a personal loan for education, powered by Bajaj Finserv.

Are You Skilled Enough to Co-exist with Robots

 2) Track Innovations Continuously

If you are a techie, be alert to emerging technologies that spur banks, insurers, retailers, automotive, and healthcare to change business models and embrace AI, ML and DL. Take cues from seemingly unrelated events too – green or sustainability-linked projects, innovations awards by the Atal Tinkering Labs and business-academia tie-ups to change school/college curriculum. If you can’t be an innovator, you can at least be prepared for innovations –or turn into an influencer at your workplace, spreading the word on technovations. If you find yourself lacking, apply online for a personal loan and register for a course to reskill yourself.

Are You Skilled Enough to Co-exist with Robots

3) Monitor New Job Profiles

A KPMG report has predicted that machines and algorithms are predicted to create 133 million new jobs by 2022 as companies adopt revolutionary technologies. Question yourself: Will I be equipped for the roles of AI architect, AI product manager, data scientist, software engineer or AI ethicist, listed in this report? Identify employers like Cognizant, Flipkart, Myntra and Jabong that encourage skill development with a skill premium allowance. If you cannot get in, the sooner you invest in an advanced course with a Bajaj Finserv personal loan for education, the better. Start by checking your personal loan eligibility on Finserv MARKETS.

4) Be Aware of Changing Hiring Patterns

Do not be a dinosaur, only looking up recruitment websites and vacancies. If you know it is the age of AI and are equipped for it, also know that it is the age of automated online hiring, social profile screening with predictive algorithms, simulations to determine personality types and language skills, video interviews and dynamic matching of resumes with social media footprint.

Here is a telling anecdote: Bhaskar was working as a medical coder in a BPO in Mangalore. He was drawn to AI and DL and decided to apply online for a personal loan. As he studied, he also took up a part-time job related to healthcare big data to pay EMIs. Armed with his newly acquired and applied knowledge, he took the online National Qualifier Test from TCS and landed a job for double the salary in a deep learning project for bioinformatics engineers. Surely you got the drift?

5) Gain Part-time Experience, Exposure through Freelance Work 

There is merit in taking up assignments in new fields to gain exposure and experience. Teach yourself to work for a stipend or a lower salary or even gratis as a volunteer if you get an opportunity to upskill yourself. Learn now to earn better later should be your motto.

Last but not least, disruptive technologies offer a way out for low-end outsourced jobs that Indians are trapped in. So dear IT coder, reskill or upskill yourself into the brave new world of AI!

Finserv MARKETS, from the house of Bajaj Finserv, is an exclusive online supermarket for all your personal and financial needs. We understand that every individual is different and thus when you plan to achieve your life goals or shop for the gadget of your dreams, we believe in helping you Make it Happen in a few simple clicks. Simple and fast loan application processes, seamless, hassle-free claim-settlements, no cost EMIs, 4 hours product delivery and numerous other benefits. Loans, Insurance, Investment and an exclusive EMI store, all under one roof – anytime, anywhere!

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