Thread by @BiIndia

Whether it's half a million or three million — 'low skilled' #ITjobs in India are definitely at risk

businessinsider.in/careers/news/l…

By @pabsgill

@pabsgill India’s leading information technology (IT) lobby, NASSCOM, and analysts at Bank of America are sparring over how many employees in the sector are set to lose their jobs this year.

#IT #ITjobs

@pabsgill Bank of America has estimated that Tata Consultancy Services (TCS), Infosys, HCL Tech, Wipro, Tech Mahindra, Cognizant and others will see a 30% reduction in ‘low-skilled’ jobs globally by 2022 because of robot process automation (RPA).

#IT #ITjobs

@pabsgill The global financial services company gauged that around 9 million people are employed in such roles in India, which means 3 million — one third of the total — will find themselves unemployed by the end of the year.

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@pabsgill .@nasscom has hit back saying that only 1.5 million people are employed in low-skilled and BPO roles, not 9 million. Which means, even if there are to be job losses, at the same rate as Bank of America is predicting, they may only amount to around half a million.

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@pabsgill @nasscom RPA isn’t actually robots — it’s software. And it’s programmed to complete specific business processes, which are routine, high-volume activities like routine help desk requests, call centre operations, data migration and other applications.

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@pabsgill @nasscom The justification for their use — despite the threat to actual human jobs — is that they will allow employees to focus on more specific tasks that require soft skills. At the same time, they will save companies a bucket-load of money.

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@pabsgill @nasscom Bank of America estimates that $100 billion in annual salaries & associated expenses will come in as savings as a result of automation. “Given that robots can function for 24 hrs a day, this represents a significant saving of up to 10:1 versus human labour,” said the report.

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@pabsgill @nasscom India’s fifth-largest IT exporter also disclosed that it planned to lay off 5,000 employees within its BPO vertical by April this year with chatbots and virtual assistants increasing the productivity per employee.

#IT #ITjobs #Jobs

@pabsgill @nasscom While India is among those most at risk due to automation, it’s hardly alone in trying to face this dilemma. The US, which was grappling with high unemployment numbers during the pandemic, is set to see 1 million jobs disappear due RPA, according to Bank of America.

#IT #ITjobs

@pabsgill @nasscom While some jobs may go out the window, new jobs will also be created as a result of automation. With 85 million jobs expected to disappear globally by 2025, 97 million new jobs will be created, as per the WEF report — that’s a net addition of 12 million jobs.

#IT #ITjobs #Jobs