The jobs of the future will incorporate a heady mix of storytelling, visual and sound effects and technology, and will need people with the ability to work with cyber-physical processes and big data emerging from multiple sources
Ganesh Natarajan with NITIE Director, Dr Karuna JainIt gave me a sense of pride and humility to stand before a vast assemble of students at my alma mater, NITIE where I had the privilege to be the Chief Guest of the annual convocation. Very conscious of the fact that I was standing in the shows of a giant like Dr Kurien, the inspirer of Amul who was the Chief Guest at my own convocation in the nineties, I shared some thoughts on the future of India and our youth.
We can all be proud of the fact that India is indisputably the fastest growing economy in the world. The 8.2 per cent GDP growth recorded in the first quarter of the current fiscal, with double-digit growth in manufacturing should give us the confidence that for well trained and ambitious young folks, there will be no dearth of opportunities to monetize. The external environment shows positive signs too with global growth projections upgraded to 3.6 per cent this year, well above the 2016 and 2017 achievements.
India is expected to retain its position as the fastest growing major economy in 2019, a projection that augurs well for job creation for the hundreds of millions of young job-seekers who expect that their country will give them the opportunity to do better than the previous generations, which is often the best indicator of upward movement of an economy.
One concern, which I shared with the large assembly is the impact that new developments in artificial intelligence, machine learning, robotics and robotic process automation can have on traditional jobs. Old jobs may be under threat but new jobs there will be in plenty! In my own industry, Information Technology and Digital, a NASSCOM study has identified opportunities in eight new areas including AI, Machine Learning, Internet of Things, User Experience and Mixed Reality, Predictive and Prescriptive Analytics and Data Sciences, which were not even heard of a few years ago and today are creating thousands of job opportunities worldwide.
The jobs of the future will incorporate a heady mix of storytelling, visual and sound effects and technology, and will need people with the ability to work with cyber-physical processes and big data emerging from multiple sources in the environment. The future of the car industry might actually see designs crowd sourced from potential buyers and converted to a drive-away model through 3D printing and instantaneous robotic assembly
For young folks entering the job and entrepreneurship world in 2018 and beyond, there are multiple opportunity streams from traditional and smart manufacturing to logistics to digital transformation applied in virtually every business sector and healthcare, agriculture, smart cities and Government. The understanding of re-engineered processes, the technology push and customer pulls that change businesses at breathtaking speeds and the imperative to build the work force of the future with new attitude and skills all this will be needed to lead in the coming years.
As one bright NITIE student correctly wondered, is anything I have learnt in the last two years going to prepare me for these rapid changes? The answer is, you have the industrial engineering discipline to understand new concepts and learn skills that will enable you to cope and succeed in the new world and the management training to build energized teams, new markets and innovative strategies for success. But you need to be quick to adapt.
This world of Fast, Focused, Flexible, Friendly and Fun is what makes me breathe fresh air everyday at 5F World
As a NITIE alumnus who has seen it all, led successful teams and companies in India, China, Japan, Europe and the US and built consulting and startup investment companies, I can confidently say that my finest moments have been in the last year, as I took on the Chairmanship of Social Venture Partners India and Pune City Con Connect. In Pune we partner with the Government to bring better education, digital empowerment and skills to every citizen and nationally at SVP we are a group of over two hundred industry leaders seeking to enable a million sustainable livelihoods for our countrymen. Believe me, there is no better entrepreneurship than social entrepreneurship and no joy which is greater than putting smiles on the faces of large numbers of empowered communities around the country… and the world!
When I started my new group 5F World, it was with the conviction that the future belongs to those who can think and act fast, be very focused on their chosen path to success, retain their flexibility to incorporate new concepts, technologies and learnings—all in an environment that is designed to be friendly. This world of Fast, Focused, Flexible, Friendly and Fun is what makes me breathe fresh air everyday at 5F World. For a true patriot and entrepreneur, there are many opportunities to truly live up to the inspiring words of one of India’s greatest sons, Swami Vivekananda.
“Arise Awake and Stop not until the Goal is reached.”
Dr Ganesh Natarajan is an alumnus of NITIE and the Harvard Business School and PhD from IIT Bombay. He is now the Chairman of 5F World, Social Venture Partners India and an investor in India’s digital eco-system.
Ganesh Natarajan
