While the first industrial revolution gave us the spinning wheel, the fourth industrial revolution or Industry 4.0 is here to dismantle established systems of operations and transform the way we live, work and connect. Automation is a global phenomenon that is impacting the job market by restructuring businesses and creating new work-ecosystems across all sectors, including retail, automotive, IT-BPM, textiles, and BFSI.
Though automation comes as a boon for businesses, most of the Indian workforce, which still relies on routine jobs including clerical, sales, service, and trade-related work, is threatened by rapid advancements. International Labour Organization (ILO), in its 2018 report, pointed out that approximately 51 % of jobs in India will be impacted by current technologies. The Banking and Finance (BFSI) sector is one of the main sectors that…
