With the advancement in artificial intelligence and cognitive technologies, the world has entered Industrial Revolution 4.0. And no nation it seems would want to miss the bandwagon.

The Union Minister of Skill development and Entrepreneurship, Dharmender Pradhan, on Friday, stated that efforts are being made with regards to job creation in the country with the aim of India not missing the fourth industrial revolution.

“We must be prepared and should not miss the industrial revolution this time,” he said at the Global Skills Summit.

People Matters previously reported, how Elon Musk, the founder, CEO and the CTO of SpaceX tweeted that competition for AI superiority would most likely cause WW3.

His tweet was in response to Vladimir Putin, wherein, the latter had said in an open lesson to students, ‘Artificial Intelligence is not only the future for Russia but all of the humankind. It comes with colossal opportunities, but also threats that are difficult to predict. Whoever becomes the leader in this sphere will become the ruler of the world.”

In the same report, People Matters talked about how artificial intelligence will change the nature of business and societies, leading to widespread automation of job activities across occupations. And though this would lead to considerable economic and social disruption - it won’t happen till the next 30-50 years.

Considering, that the government has opened up to the fact that the world has already entered the fourth industrial revolution, and to catch up it would have to start planning for not just skill development of the workforce (currently 10% of the Indian population is skilled, as against 50-90% in the robust global economies), it will have to revisit the educational system to keep pace with the evolving technology, if India wishes to compete with world economies in the future.

During the Global Skill Summit, Dharmendra Pradhan highlighted that 1-1.5 crore people enter the employable category each year and there is a requirement to create an enabling ecosystem, such that their employability translates into jobs.

T V Mohandas Pai, FICCI Skills Development Committee Chairman, during the summit, sought government intervention to rework the educational policy and incentivize people who create jobs.

Simon Bartley, president of WorldSkills, said during the summit, "India is missing in the list of top 10 countries in the world skills competition. You have a challenge and I wish you take it.”