SME sector need to be equipped digitally
New Delhi, 17 June (KNN) Arrival of disruptive technologies like Artificial Intelligence (AI) and Big Data is bringing change in the way of function of organization. Mainly, the SME sector is dependent on digital tools enhance their operations. Digital tools provide them a platform to gain wider exposure and reach, to compete with larger enterprises without having to invest large amounts of money. There is a lack of digital skills in today’s workforce.
There is a lack of digital skills amongst the workforce of today, according to the World Economic Forum, about 55% of employees are likely to need significant re-skilling by 2022.
Although the SME sector is suffering from challenges like, infrastructure and funds in which improvement in digital grounds is a way to bring some solution. To work on it, SMEs need to start equipping their employees with the right skill sets. Even the government is also trying to act on this with initiatives like Digital India and Skill India to train manpower of this sector. Skill gaps among the workers should be fixed through organizing internal audits at the workplace itself.
This will help companies determine the extent to which business operations and functions need to be revived and skill development programmes can be designed.
According to a report by Omidyar Network and BCG, there are 55-60 million MSMEs in India, employing more than 111 million people. When the demand for new skills is rising, talent pool generation with the ability to adapt to and harness advanced technologies is the need of hour today. SMEs need to upgrade the skill and re-skill their employees to equip them for the future requirements of their jobs. By implementing new processes, these companies will also be able to streamline operations to optimise output, enabling them to significantly cut down operational costs.
To make employees adapt the new changes, SMEs need to strategise the roll out of new processes in a organized manner. Creating a strong workforce, equipped with the right skills and mind-set, businesses in the SME sector can leverage new technologies to boost productivity and innovation. (KNN/VS)