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Economic Times
05-08-2025
- Business
- Economic Times
Jobs at Risk: AI's reality check
TIL Creatives India's white-collar workforce has started feeling the tremors of job displacement due to AI with India's largest IT employer Tata Consultancy Services (TCS) announcing it will cut 12,000 roles. While the country's technology industry has weathered several downturns in the past—from the post-Y2K lull to the 2008 financial crisis and the Covid-era freeze—the current shift is unlike any before. AI is rewriting job descriptions, replacing repetitive roles and forcing a reset on what skills are truly futureproof. It's part of a broader trend. Recruitment firms report the erosion of jobs across the board–from finance and insurance to marketing and customer service. According to the World Economic Forum's 2025 Future of Jobs report, the structural labour market shift will impact 22% of today's jobs globally, although it foresees an overall rise. Nearly 8% (92 million) will be lost, while 14% (170 million) new jobs will be created. This will result in net growth of 7% in total employment, or 78 million jobs in 2025-2030, it said. For India, 38% of existing core skills are expected to traditional job pyramid of the Indian white-collar workforce—wide at the base with repetitive roles—is being compressed, experts said. Hiring is becoming more selective, with companies placing a premium on value-creation over volume. Rule-based and pattern-driven processes are already being replaced with AI's speed and accuracy, said Sachin Alug, CEO of recruitment firm NLB Services. 'We're already seeing it in roles such as customer service agents, data entry operators, invoice processors, and junior audit staff. In many cases, AI handles the first layer of work, such as responses, validations, and summaries, faster and with fewer errors.'The BPO and KPO (business and knowledge processing outsourcing) sectors, India's largest employment engines, are also under pressure. Voice-based customer service agents, chat support, transcription and data-cleaning roles are all at risk due to co-pilots and conversational bots. Nearly 65% of retail jobs and up to 70% of financial reporting tasks could be automated in the coming years, said Neeti Sharma, CEO at recruitment firm TeamLease Digital.'Already, about 30% of global customer service requests are handled by AI, and junior roles in legal and audit are being reduced as AI reviews documents and checks compliance,' she said. The squeeze isn't immediate but seems inevitable.'While these roles are not vanishing overnight, many organisations, especially in captive centres and large shared services setups, are seeing a slowdown or freeze in hiring unless driven by fresh investments or expansion mandates,' said Sanketh Chengappa KG, director and business head, professional staffing at Adecco India. The cascading effect of job displacement is creating higher entry barriers for younger people entering the workforce, he said. It may create urban unemployment clusters, particularly in cities with a high concentration of BPO/KPO jobs, and enhance income inequality. AI disruption isn't confined to entry-level workers. Mid-career professionals are increasingly vulnerable, especially those with 15–25 years of experience in functions now becoming redundant, said Shyam Menon, co-founder of the Bharat Innovation Fund. He noted that this cohort is at risk due to outdated skillsets and limited exposure to newer also noted that the narrative around AI is heavily skewed towards coding and data science. 'This creates a perceived 'tech wall' for professionals in fields like human resources, marketing, sales, and arts,' he said. According to Maya Nair, executive director at Grafton Recruitment India, companies are beginning to prioritise productivity over manpower. 'In manufacturing and healthcare sectors, automation or data entry folks and base level roles in finance, admin, HR are where chatbots are being introduced to provide solutions to queries raised within minutes, which previously took two days by employees doing the same role,' she said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Can Coforge's ambition to lead the IT Industry become a reality? BlackRock returns, this time with Ambani. Will it be lucky second time? Amazon is making stealthy moves in healthcare, here's why! The trader who blew the whistle on Jane Street Stock Radar: Globus Spirits breaks out from 9-month consolidation; check target & stop loss for long positions Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus These large-caps have 'strong buy' & 'buy' recos and an upside potential of more than 25% Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 36% in 1 year
Time of India
05-08-2025
- Business
- Time of India
Jobs at Risk: AI's reality check
ETtech India's white-collar workforce has started feeling the tremors of job displacement due to AI with India's largest IT employer Tata Consultancy Services (TCS) announcing it will cut 12,000 roles. While the country's technology industry has weathered several downturns in the past—from the post-Y2K lull to the 2008 financial crisis and the Covid-era freeze—the current shift is unlike any before. AI is rewriting job descriptions, replacing repetitive roles and forcing a reset on what skills are truly futureproof. It's part of a broader trend. Recruitment firms report the erosion of jobs across the board–from finance and insurance to marketing and customer to the World Economic Forum's 2025 Future of Jobs report , the structural labour market shift will impact 22% of today's jobs globally, although it foresees an overall rise. Nearly 8% (92 million) will be lost, while 14% (170 million) new jobs will be created. This will result in net growth of 7% in total employment, or 78 million jobs in 2025-2030, it said. For India, 38% of existing core skills are expected to traditional job pyramid of the Indian white-collar workforce—wide at the base with repetitive roles—is being compressed, experts said. Hiring is becoming more selective, with companies placing a premium on value-creation over and pattern-driven processes are already being replaced with AI's speed and accuracy, said Sachin Alug, CEO of recruitment firm NLB Services. 'We're already seeing it in roles such as customer service agents, data entry operators, invoice processors, and junior audit staff. In many cases, AI handles the first layer of work, such as responses, validations, and summaries, faster and with fewer errors.'The BPO and KPO (business and knowledge processing outsourcing) sectors, India's largest employment engines, are also under pressure. Voice-based customer service agents, chat support, transcription and data-cleaning roles are all at risk due to co-pilots and conversational bots. Nearly 65% of retail jobs and up to 70% of financial reporting tasks could be automated in the coming years, said Neeti Sharma, CEO at recruitment firm TeamLease Digital.'Already, about 30% of global customer service requests are handled by AI, and junior roles in legal and audit are being reduced as AI reviews documents and checks compliance,' she said. The squeeze isn't immediate but seems inevitable.'While these roles are not vanishing overnight, many organisations, especially in captive centres and large shared services setups, are seeing a slowdown or freeze in hiring unless driven by fresh investments or expansion mandates,' said Sanketh Chengappa KG, director and business head, professional staffing at Adecco India. The cascading effect of job displacement is creating higher entry barriers for younger people entering the workforce, he said. It may create urban unemployment clusters, particularly in cities with a high concentration of BPO/KPO jobs, and enhance income inequality. AI disruption isn't confined to entry-level workers. Mid-career professionals are increasingly vulnerable, especially those with 15–25 years of experience in functions now becoming redundant, said Shyam Menon, co-founder of the Bharat Innovation Fund. He noted that this cohort is at risk due to outdated skillsets and limited exposure to newer also noted that the narrative around AI is heavily skewed towards coding and data science. 'This creates a perceived 'tech wall' for professionals in fields like human resources, marketing, sales, and arts,' he said. According to Maya Nair, executive director at Grafton Recruitment India, companies are beginning to prioritise productivity over manpower. 'In manufacturing and healthcare sectors, automation or data entry folks and base level roles in finance, admin, HR are where chatbots are being introduced to provide solutions to queries raised within minutes, which previously took two days by employees doing the same role,' she said.
Time of India
24-07-2025
- Business
- Time of India
India's concert economy to create 1.2 cr temporary jobs by 2030-2032, says NLB Services
India's live event and concert economy is expected to generate nearly 12 million (1.2 crore) temporary jobs by 2030-2032, with over 100 large-format concerts expected annually across the country, says global technology and digital talent solutions provider NLB Services . "Live event and concert economy in India is witnessing a transformative phase, which is emerging not only as a thriving cultural phenomenon but also as an employment and economic driver, poised to generate nearly 12 million temporary jobs by 2030-2032," NLB Services CEO Sachin Alug said. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Public Policy Operations Management Data Science Artificial Intelligence Cybersecurity others Digital Marketing Product Management Others Data Science Healthcare Design Thinking MBA Finance Project Management CXO MCA PGDM Leadership Degree Management Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details This evolving landscape is fueling demand for skilled professionals in production, logistics, security, hospitality, and digital media, he stated. While metropolitan cities like Mumbai, Delhi, Bengaluru, and Hyderabad continue to host major international and national acts, the next wave of growth is clearly shifting toward tier II and III cities, he said. "Cities like Shillong, Guwahati, Pune, Jaipur, Kochi, Lucknow, Indore, and Chandigarh are fast becoming hotspots for high-energy live events," Alug said. Live Events He said, each concert generates 15,000 to 20,000 short-term roles across venue operations, crowd management, Food and Beverage (F&B) services, stage rigging, digital marketing, content creation, artist management, and more. Further, he said, the concert economy is acting as a multiplier for allied sectors like travel, tourism, hospitality, and F&B as well. For instance, he said, Coldplay's 2024 concert in Ahmedabad (Gujarat) added Rs 641 crore to the local economy, including Rs 72 crore in GST revenue. The ripple effects included a 300-350 per cent surge in flight demand, an 8 per cent spike in train bookings, record-high hotel tariffs (some rooms hitting Rs 90,000 a night), and huge business for local eateries and delivery platforms, he added. This concert boom is not just about short-term engagement, he said, adding that around 10-15 per cent of temporary roles are transitioning into full-time employment, particularly in domains like audio engineering, digital strategy, event tech, and production management. Repeat gigs, portfolio development, and upskilling are helping gig or freelance workers secure long-term opportunities, he noted. With over 100 such concerts expected annually, the cumulative contribution is projected to cross Rs 15,000 crores over the next few years driven by direct revenues from ticketing, hospitality, and transport, as well as indirect gains through tourism, local employment, and MSME engagement, he said.
Hans India
22-07-2025
- Business
- Hans India
30 pc STEM graduates likely to join AI-enabled workforce
A clear shift from traditional learning to dynamic, AI-led skilling that prioritises adaptability, innovation, and real-world problem-solving. Home to one of the world's largest pools of STEM graduates, India's strength is now evolving into a digital edge. With over 25.5 lakh students graduating from the STEM field each year, the opportunity to build a future-ready, AI-enabled workforce has never been more promising. Of these, an estimated 30 per cent are expected to take up roles directly linked to AI by the end of FY26, highlighting how AI is becoming core to India's future of work strategy. Even as the country marks 10 years of the Skill India Mission, its ripple effects are being seen right from urban campuses to small towns where youth are equipping them with practical, job-ready skills like - AI/ML engineering, cybersecurity, and cloud engineering Hans News Service New Delhi About 30 per cent of students in India graduating from the Science, Technology, Engineering, and Mathematics (STEM) fields are likely to join the artificial intelligence (AI)-enabled workforce by the end of FY26, according to a report. The report by talent solutions company NLB Services highlighted how AI is becoming core to India's future work strategy. It noted a clear shift from traditional learning to dynamic, AI-led skilling that prioritises adaptability, innovation, and real-world problem-solving. 'Home to one of the world's largest pools of STEM graduates, India's strength is now evolving into a digital edge. With over 25.5 lakh students graduating from the STEM field each year, the opportunity to build a future-ready, AI-enabled workforce has never been more promising,' said Sachin Alug, CEO, NLB Services 'Of these, an estimated 30 per cent are expected to take up roles directly linked to AI by the end of FY26, highlighting how AI is becoming core to India's future of work strategy,' he added. Even as the country marks 10 years of the Skill India Mission, its ripple effects are being seen 'right from urban campuses to small towns where youth are equipping themselves with practical, job-ready skills like - AI/ML engineering, cybersecurity, and cloud engineering,' Alug said. In addition, India is projected to require 1 million AI professionals by 2026, which underscores the urgency of this trend, he stated. Moreover, Tier 2 and Tier 3 cities are emerging as new entrepreneurial potential, where young Indians are not just job seekers but also job creators. They are leveraging AI tools to launch businesses, solve local challenges, and participate in the global economy. To fully unlock this potential, we must double down on inclusive, accessible skilling models and invest in strong public-private partnerships, Alug said. The report noted that the journey from Skill India to a $10 trillion digital-first economy hinges on empowering every young Indian with the tools to lead and not just participate in the future of work.
Hans India
03-06-2025
- Business
- Hans India
India to see 7.29 mn green jobs by FY28
Mumbai: India's green economy is growing rapidly and is expected to reach a value of $1 trillion by 2030, and a staggering $15 trillion by 2070, a new report said on Monday. With this massive growth, India is also set to create a huge number of green jobs -- around 7.29 million by the financial year 2027-28 and 35 million by the year 2047, according to a NLB Services report. NLB Services CEO Sachin Alug said: 'In the past 4–5 years, we've seen green jobs evolve from niche roles to mainstream opportunities across renewable energy, EVs, and sustainable infrastructure. What's changed pragmatically is the skillsets.'India Green Economy, Green Jobs, NLB Services Report, Renewable Energy, Sustainability Skills, Workforce Development 'Today's green workforce needs both sustainability know-how and digital fluency, and the increased integration of AI, IoT, blockchain, GIS, and data-driven tools are laying the foundation for progressive, new-age green careers,' Alug mentioned. As the green sector expands, industries are not just investing in green technology and renewable energy, but also focusing on building a skilled workforce to meet the rising demand. This shift is driving companies to change their hiring strategies. Rather than relying only on traditional degrees, employers are now giving more importance to practical green skills and hands-on experience. Many companies are also working closely with colleges and universities to equip young people with sustainability-related skills, while also investing in inclusive hiring and re-skilling programmes, the report stated.
