An Accenture report has highlighted that India must improve its skills pool over the next few years to keep abreast of its push to promote the adoption of emerging technologies.

The ‘Fueling India’s skill (r)evolution’ report warns that if the current skills gap can’t be bridged, this could result in the loss of as much as USD 1.97 trillion in GDP growth promised by investment technology.

India currently has a waiting room full of international clients who had previously given up on conducting business in the country, who would otherwise have been first in line had they been given clearer guidelines by the government and seen a change in current punitive regulation.

The client base in India is huge and are more than willing to turn cryptocurrency into Satoshi’s P2P dream. The right words from the present government and the Reserve Bank of India have the potential to kick-start a massive surge of interest in what cryptocurrency can offer across the nation’s 29 states, and further invigorate an already thriving economy.

According to the report, thriving new technologies such as AI, augmented/virtual reality (AR/VR) and blockchain are also ready to take off in India, but not without rapid re-skilling and up-skilling at scale. The report highlights the need for a new much larger skills base in advanced technologies in the country. Chairman and Senior Managing Director at Accenture in India, Rekha M Menon, suggested:

“We must offer more experiential on-the-job training and help people adopt life-long learning as their jobs are transformed. Digital tools and applications — like artificial intelligence, analytics and blockchain — will be essential in delivering these new learning approaches.”

Menon added that such skills simply can’t be learned in the classroom but require essentially “human skills such as creativity, empathy and ethical judgment”.

 

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