AI to transform financial management for Indian SMEs, MSMEs
Thes enterprises make up more than 60 million of them, contributing to over 30 per cent of the nation’s GDP and employ more than 110 million people.
Further, it said soft skills take centre stage, with nine in ten L&D professionals prioritising human skills.
(Representational Image) File Photo
A recent study by LinkedIn on Tuesday revealed that 94 per cent of companies in India plan to enhance their employees’ skills and abilities this year as artificial intelligence (AI) continues to reshape the world of work.
The report titled “Workplace Learning Report” highlights upskilling employees, aligning learning programs with business goals, and creating a culture of learning as the top three focus areas for India’s learning and development (L&D) professionals in 2024.
Further, it said soft skills take centre stage, with nine in ten L&D professionals prioritising human skills.
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A total 91 per cent of L&D professionals in India view human skills as increasingly competitive in the economy.
‘Communication’ has topped LinkedIn’s most in-demand skills list in 2024 across all countries in the Asia Pacific, including India. Soft skills like critical thinking and problem-solving are among the top five skills that hiring managers in India consider the most important in the AI era.
L&D professionals are keen on investing in a culture of continuous learning. Companies in India are focusing on enhancing employees’ skills for greater confidence and job security by offering online training and development programmes (53 per cent) and providing opportunities for hands-on experimentation with Gen AI tools (54 per cent), the report added.
This will lead to increased investments in learning opportunities. In fact, 96 per cent of L&D professionals in India said they can show business value by helping employees gain skills to move into different internal roles.
Speaking on the development, Ruchee Anand, senior director of Talent, Learning, and Engagement Solutions at LinkedIn India, said, “Last year, we saw a 21x surge in job postings mentioning ChatGPT or GPT on LinkedIn, reflecting the growing demand for tech skills as businesses explored AI. This year, we are seeing a pronounced shift towards skills – both technical and soft skills – to thrive in the era of AI.”
“With skills for jobs globally expected to change by 68 per cent by 2030, we are seeing a greater emphasis on learning both technical and soft skills, with a majority of employers surveyed agreeing that this balance will be critical for organisations to succeed in the age of AI,” she added.
It highlighted that 48 per cent of India’s hiring managers are providing career progression opportunities to their existing employees. They also believe that “helping employees build the skills needed for the future of work” (38 per cent) and “providing competitive salary and benefits” (31 per cent) are key to retaining top talent.
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