Infosys research reveals disparity between developing and developed countries’ youth outlooks, as the world confronts the Fourth Industrial Revolution
Davos, Switzerland – January 18, 2016
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced research findings that provide insight into a generation that is positive about technology, divided economically about their career chances, and unsatisfied with their current formal education.
The research report, Amplifying Human Potential: Education and Skills for the Fourth Industrial Revolution, commissioned by Infosys and conducted by independent research agency Future Foundation, polled 1,000* young people per country, aged between 16 and 25, in Australia, Brazil, China, France, Germany, India, South Africa, the United Kingdom and the United States.
Overall, while youths across all surveyed countries understood the role that technology will play in their careers and the need to advance their own skills, there is a clear disparity in technical confidence and job opportunities among developed and emerging economies.
Data also indicates that the disparity between emerging and developed economies’ technological understanding is linked to developed markets' long-established education, employment and economic strategies. Emerging economies surveyed have less institutional inertia to contend with, having embarked on their economic rises more recently, and therefore can more flexibly embrace emerging technology. Emerging markets have also accelerated investments in education, buoyed by economic growth.
The workforce of tomorrow also understands that as technology increasingly takes away routine tasks, they will need to pursue lifelong learning to develop new skills and focus on “soft" skills that computers will not be as adept at handling.
Finally, the study showed that job security was important for today’s youth, with the majority of them uninspired to work in volatile start-up ventures. Many, especially in developed economies, are reluctant to set up their own enterprises. Instead, they prefer employment with established large and mid-size companies. And the gender gap in science, technology, engineering, and mathematics (STEM) careers remains prevalent, but it is much starker in developed countries than developing countries.
Overall, young people are aware that the Fourth Industrial Revolution will usher several disruptive forces in the job market: from the next-generation Internet of Things and Big Data, to work environments that will be drastically changed by automation, artificial intelligence and similar technologies. Today’s youth understands that it must be agile, open to learning and capable of operating in a global environment to build a long-term career path.
Dr. Vishal Sikka, CEO and Managing Director, Infosys, said, “Young people around the world can see that new technologies, such as artificial intelligence and machine learning, will enable them to reimagine the possibilities of human creativity, innovation and productivity. To empower these young people to thrive in this great digital transformation, our education systems must bring more focus to lifelong learning, experimentation and exploration – in addition to bringing computer science and technology more fundamentally into the curriculum. Every one of us can reimagine our circumstances, innovate and create, but our education systems must instill new ways of thinking, which include finding the most important problems to solve, collaborating across diverse groups and learning from quick failures — so that each one of us can find our own meaningful, purposeful work.”
For more information and a full copy of the report, please visit: http://www.experienceinfosys.com/humanpotential
* 700 surveyed in South Africa
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
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