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Bengaluru, NFAPost: The Covid-19 pandemic induced lockdowns and the related recession of 2020 has created a highly uncertain outlook for the labour market because it is estimated that about 2.7 billion people or more than four out of five workers in the global workforce have been impacted by these disruptions.

Sindhu Gangadharan, managing director of SAP India Labs disclosed this in her presentation ‘Future of Work’ at the Bengaluru Tech Summit 2020 on Saturday.

“Covid-19 is a watershed moment and it has certainly impacted the future of work not just for now but permanently. The pandemic has taught us new ways of we conduct our business, how we interact with our employees and how we connect with the larger ecosystem of customers and partners. Virtual networks and digital collaboration technologies have become mainstream today and have also become the true enablers of work in these times,” she said.

According to a latest World Economic Forum report on the future of jobs the face of technology adoption is expected to remain unabated and accelerate in some areas. The adoption of cloud computing, big data and e-commerce have become areas of high priority for all business leaders, she said.   

“The future of work has already arrived for a large majority of the online white-collar workforce as more than 84% of the employers are rapidly digitalising working processes and significantly expanding remote work out of which 44% of the workforce is expected to work remotely,” she said of the key trends. She said 43% of the employers are expected to trim their workforce due to technology integration and automation. About one-third of the employers are also expected to engage with the employees.

She said reskilling of workers will be one of the main focus areas of employers with this technology adoption. She said 40% of the workforce will require to be reskilled.

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