Neoskilling for Digital Transformation and the Artificial Intelligence Revolution
eBook also available for institutional users
Managers reskill their teams, to meet today’s needs. Leaders think ahead, for the futuristic long-term needs of their organization and the overall ecosystem to excel and reap the benefits of Digital Transformation we are undergoing - “neoskilling” in short. Neoskilling is holistic and beyond formal class-room training, requiring a mental metamorphosis. It includes soft skills, cultural aspects and instills a higher-order thinking in individuals and groups in preparation for the Workplace of the Future. Leaders must avoid a strategically Myopic, INtellectually IMpoverished, Ethically Challenged, obtuse management approach, ensuring that they do not fall into the MINIMEC trap as they undertake this journey. For influencers and policymakers, neoskilling helps in socially inclusive growth, taking digitization and its benefits beyond corporates to every section of the society and for employability.
About the Authors
Chapter 1 The Need for Neoskilling – Beyond Reskilling
1.1 What Is Neoskilling?
1.2 Meeting the Challenges
1.3 The MINIMEC Trap
1.4 Create, Capture, Deliver Value
1.5 Competing Values Framework
1.6 The Theory of Business (ToB)
1.7 Michael Porter’s Value Chain and Digital Skills
1.8 Flow and Matching of Skills
Chapter 2 Ownership – The Buck Stops Here
2.1 The Role of Leaders
2.2 Industry Ownership for Reskilling
2.3 Government Owning Reskilling
2.4 Professionals Owning Reskilling
2.5 The Challenges Faced for Reskilling
2.6 Accountability in the Organization
2.7 Metrics to Measure the Impact
Chapter 3 The Hierarchy of Reskilling
3.1 Hard Skills vs. Soft Skills for Interpersonal Roles
3.2 Mental Metamorphosis for Forming Well-Meshed Teams
3.3 How Strategic Is Reskilling?
3.4 Skill Anticipation for Neoskilling
3.5 The Cycle of Skilling
3.6 The Impact of Automation
3.7 Using Perrow’s Classification of Technology for Determining Employability
Chapter 4 Socially Inclusive Reskilling – Digital for All
4.1 Reskilling beyond Enterprises – Stages of Inclusive Growth
4.2 Skill Development for Reaping Digital Dividends
4.3 Approaches to Socially Inclusive Reskilling
4.4 Technology for Socially Inclusive Reskilling
Chapter 5 Industry Analysis
5.1 Digitization across Industry Sectors
5.2 Information and Communication Technology – Most Impacted
5.3 Banking, Financial Services and Insurance (BFSI) – Waiting to Be Impacted the Most
5.4 Automotive and Engineering – The Most to Innovate
5.5 Consumer Packaged Goods – B2B2C Model with e-Commerce
5.6 Process-Based Industries – Inward Looking
5.7 Industry-Specific Reskilling Efforts
Chapter 6 Conclusion – Making It Happen
6.1 Travails of Implementing Reskilling in Interorganizational Networks
6.2 The Political Economy Framework
6.3 Organizational Citizenship Behavior for Motivation
6.4 Change Management Imbibing a Culture for Lifelong Learning
6.5 Second-Order Environment
6.6 Measuring the Digital Spend
6.7 The Mythological Perspective
Appendix: Survey Questionnaire
Neoskilling is the need of the hour; no one seems to get it right, though! Over several attempts, we will eventually get it!! There is a dire need to try. Here is an interesting attempt. My very best to the very able authors.
—Prof. S. Sadagopan
Director, IIIT - Bangalore
The new age users of iPads and smartphones will be wondering “what were they thinking” about the designers of yesteryears’ transistors, televisions and radios. Today’s entrepreneurs in the Healthtech, Fintech and Retailtech sectors are asking the same question about our traditional business models. They are surely coming after your business and mine. Tomorrow’s world is making us think “what to do when machines get to do everything”. The time to act is now. Reinventing ourselves and our businesses for the Digital world, rapidly, is an economic compulsion and Neoskilling is a survival imperative.
Co-Founder and Emeritus Vice Chairman, Cognizant
There is a critical imperative to skill over three hundred million people in this country and enable them for useful employment and entrepreneurship. The old models are failing and a new way, assisted by global insights and world class technologies is becoming critical. Neoskilling can provide answers if implemented at scale. This book is a timely addition to the body of knowledge from which true solutions can emerge.
—Dr. Ganesh Natarajan
Chairman, Social Venture Partners India
Given the pace at which data analytics and artificial intelligence are becoming prominent tools used across the business landscape, individuals, organizations and even nations are headed for the kind of disruption that we have not seen in living memory. Professor Prasad and Ramachandran bring together their expertise and experience in academics and industry respectively to craft a novel lens – neoskilling – to help us make sense of how we can ride this wave rather than be drowned under it. Their integrative approach and focus on human capital make this book essential reading for leaders of today and tomorrow.
—Prof. Rishikesha T. Krishnan
Director, IIM Indore
Outstanding book with compelling cases and pragmatic solutions. Leads the human mind into the future before the future gets us there.
CEO & QuizMaster, GreyCaps
Overall this book gives an excellent, in-depth discussion on the new skills and the adapta_on needed by organizations to meet both technological and social challenges that are imminent with the emergence of new digital technologies.
—Prof. V. Rajaraman
Emeritus Professor, IISc
Neoskilling addresses an important area of preparing for the future of work. The AI revolution will transform jobs and human productivity. Neoskilling discusses several ideas for creating a workforce that is always prepared for the future. An important reading for those involved in development of human capital.
—Dr. Gopichand Katragadda
Group CTO, Tata Sons