With technologies seeing newer dawn in Indian businesses, more companies are looking to adopt disruptive technologies such as analytics, data science, artificial intelligence in their working. To enable this, companies will have to look for a workforce that is skilled enough to adopt these tech innovations and bring newer competencies in the market.
This is where the need to reskill or replace comes into the picture. We have seen in the past how companies such as Cognizant and many other tech companies have laid off employees who were not able to keep up with the changing technologies and failed to upskill themselves in this highly tech-driven time. The world is changing at a fast pace and companies need to alter the ways they work by incorporating technology in their processes.
We have published numerous studies and reports in the past which suggests that there are a lot of job openings in data science and AI field that currently needs to be filled up, which clearly indicates towards unavailability of talent that can be addressed either by reskilling or making new hirings.
But what do companies usually prefer — reskilling or hiring? Let us find out.