BY ZAIRUS MASTER
Technology has farreaching effects on jobs. It has not only disrupted every major industry but also created new job roles.
The IT sector is expected to more than double by 2025, to stand at $435 billion, according to a recent McKinsey report. The demand for IT professionals carrying excellent technological skills has skyrocketed.
The retail sector, including e-commerce, will register a phenomenal growth within the next five years. Experts in digital tools, such as SEO and data analytics, are the most sought.
With banks partnering with fintech firms and digitising services, this sector will grow phenomenally and be worth $170 billion by 2025. Banking professionals, too, need to keep their skills up-to-date.
The Telecom Sector Skill Council (TSSC) estimates that 14.3 million high-value, tech-centric jobs will emerge in the coming years. There will be a huge demand for people familiar with advanced technology.
While the auto sector is currently in a slump, looking ahead, innovations in the sector are likely to eventually create new jobs. Artificial intelligence-centric high-concept innovations, such as connected mobility and self-driving cars, are technological marvels. Automobile manufacturers across the globe are focusing on R&D to come up with greater products while bringing current hightech concepts to the highways. The demand for skilled automobile professionals is expected to rev up again in the later part of 2019.
Logistics and supply chain
Automation and realtime data analytics are some of the major technologies driving the disruption in this space, propelling it to become a $30 billion market by the next halfdecade. With machines fast replacing humans to perform repetitive tasks in the supplychain management, the role of managing these advanced systems has become one of the fast-emerging and most in-demand job roles available today.