Generative AI is poised to usher in a new wave of innovation and productivity for India. An EY report estimates that GenAI could add $1.2-1.5 trillion to India's GDP in the next 7 years, with education and upskilling as critical drivers. In a digital world where talent can rise from anywhere, access to digital skills would be a game changer - a gateway to more equal opportunities for millions while unlocking India's demographic dividend.
A report by BCG finds GenAI is a top three priority for 89% of CEOs. However, the majority grapple with a shortage of talent and skills. What sets the winners apart is that they are "upskilling systematically". Structured, role-based learning pathways that empower all employees will be necessary to maximise the full potential of AI within organisations. In India, companies like L&T have taken an early lead in building foundational digital literacy by launching Coursera's GenAI Academy for th ..
With high-quality learning content from the world's best experts available online, organisations can balance AI's transformative potential against inherent risks like bias and misinformation - adopting GenAI quickly and safely. Like they say in F1, "To go fast, you need good brakes." You also need a skilled driver.
India can be the source of human capital for the world over the next decade. A digitally-skilled workforce would position it to become the hub for AI talent. Last year, every 3 minutes, someone in India enrolled in a GenAI course on Coursera. Private-public partnerships can harness this potential by creating learning and career pathways for emerging digital jobs that can be performed anywhere in India - from Kerala to Mizoram, the Andaman Islands to Kashmir.
Industry micro-credentials rapidly prepare Indians with in-demand digital skills. Under India's expanding skill ecosystem, credits for online and blended learning could scale such skills without location barriers - IIT Guwahati's online BSc (Honors) in Data Science & Artificial Intelligence on Coursera will now recognise industry micro-credentials from leaders like Google and IBM, allowing students to build on prior learning.
GenAI is the answer to its own disruption, levelling the playing field and transforming threats into opportunities. Students in rural India now have a virtual coach with conversational abilities, explaining concepts in their language. Indians are able to learn digital skills in local languages - with AI breaking down language barriers, learners here can now access over 4,000 courses in Hindi on Coursera.
This is just the beginning. By embracing AI-enhanced learning and developing an AI-skilled talent pool, India can harness GenAI's potential to empower every citizen and accelerate towards a $5 trillion economy.
(The author is CEO of Coursera. He will be speaking at the ET Now Global Business Summit 2024 in New Delhi)
Source Name : Economic Times