The world has changed a lot in the last few years. We see research in AI and Industry 4.0 has emerged. There are demographic changes. All this affects the way we work, where we work and who does the work.

The work is influenced both by supply and demand-side factors. Demography, migration, cost of living and social trends are some supply side factors. These influence the availability and expectations of workers. Technology is a major factor on the demand side. AI and automation take over the routine tasks. Some tasks require creative faculties, cognition and emotional intelligence. There are issues of cybersecurity. There are new markets on account of globalization. At the same time organizations must adapt to local diversity.

AI has affected production operations. There are vast changes in sectors such as finance, healthcare and logistics. Data analytics has introduced efficiency in decision-making. There are new work models — work from home, work partly from office and partly from home, remote work.

Work demands high competency and therefore there is constant need for reskilling and upskilling.

Countries create enabling work environment. There are digital platforms such as UPI. The governments must take suitable policy initiatives.