5 Reasons Why Tech Upskilling is the Future for Pakistan
By Mahnoor Imran & ChatGPT | 8th April 2023
In today’s rapidly evolving business landscape, technology has become an integral part of every industry. With the advent of new technologies, businesses are changing the way they operate. McKinsey and Co estimates that by 2025, all jobs will require leveraging some form of data. As such, the need for tech upskilling has become paramount-and this applies to Pakistan as well. Upskilling refers to the process of improving an individual’s skills and knowledge, often by learning new technologies, to keep up with the demands of the changing industry. In the current landscape-where powerful new technologies such as ChatGPT and DALL-E are emerging to the forefront-tech upskilling may just be the answer to many of our country’s social and economic problems.
1: The Future is Here
The first reason why tech upskilling is crucial is that technology is changing the way we work. With the rise of automation and artificial intelligence, many traditional jobs are being replaced by machines.At least 400-800 million jobs are projected to be displaced due to AI, according to McKinsey. While this may seem like a threat to some, it is also creating new job opportunities that require a different set of skills. For example, the demand for data scientists, machine learning engineers, and cybersecurity experts is growing rapidly. By upskilling in these areas, individuals can prepare themselves for the future job market and increase their chances of getting hired. In Pakistan, where the existing education system may take years to catch up to technological advancements, investing in tech upskilling may help students and young professionals find a niche and earn their living. Already Pakistani freelancers are dominating platforms such as Upwork, Fiverr and Freelancer and by providing more tech forward services, these freelancers can unlock new opportunities.
2: Better Pay Days Ahead
The second reason why tech upskilling is important is that it can lead to higher-paying jobs. In many cases, individuals who possess advanced technological skills are in high demand, and as such, can command higher salaries. For instance, a software engineer with experience in machine learning can earn significantly more than a software engineer who does not possess this skill set. According to Glassdoor, the average salary of a data scientist is $126,000 with the highest paying companies offering up to $200,000. Therefore, investing in tech upskilling can be an excellent way to boost one’s earning potential or to boost the earning potential of the country as a whole.
3: Turbocharging Growth
The third reason why tech upskilling is critical is that it can improve productivity and efficiency within organizations in Pakistan. Technology is designed to streamline processes and automate repetitive tasks, which can help businesses save time and money. For example, a business that adopts cloud computing can significantly reduce the time and cost associated with managing its IT infrastructure. For example, recently Careem partnered with the Lahore University of Management Sciences to produce a predictive model for ride-hailing demand. Using projects like these and by upskilling in the use of cloud technology, organizations can improve their productivity and efficiency, which can benefit both the employee and the Pakistani society at large..
4: Higher Job Satisfaction
The fourth reason why tech upskilling is important is that it can improve job satisfaction. Many employees report feeling unchallenged or unfulfilled in their current positions. By upskilling in a new technology, employees can learn new skills and take on new challenges, which can increase their job satisfaction. Additionally, learning new technologies can make work more interesting and engaging, which can lead to a greater sense of fulfillment in one’s career. An increasing amount of roles in tech are also hybrid or remote-allowing workers flexibility in their day to day lives. This is why tech is consistently ranked as one of the best industries.
5: For a Better Pakistan
The fifth reason why tech upskilling is crucial is that it can help businesses stay competitive. In today’s fast-paced business environment, companies that fail to keep up with technological advancements risk falling behind their competitors. By investing in tech upskilling, businesses can ensure that their employees possess the skills and knowledge necessary to stay ahead of the competition. This can lead to improved products and services, better customer experiences, and increased revenue. Deploying tech can help improve the quality of Pakistani businesses. Moreover, by providing IT related services in the international market, Pakistani business and freelancers can help with Pakistan’s skewed balance of payments in the short term, In Pakistan, in particular, where the economy struggles with a weak balance of payments, IT exports and remittances can play a major role to provide relief to the economy.
In conclusion, tech upskilling is an essential investment for professionals in today’s rapidly evolving business landscape. By learning new technologies and expanding their skillsets, individuals can prepare themselves for the future job market, increase their earning potential, improve productivity and efficiency, boost job satisfaction, and help their organizations stay competitive. The benefits of tech upskilling are clear, and it is up to individuals to take advantage of the many resources available to them, such as online courses, workshops, and certifications. The future belongs to those who can adapt to change, and tech upskilling is one of the best ways to ensure that one stays ahead of the curve.