Indeed-Nasscom Unveil Future of Work 2024 Report: Navigating Jobs, Workforce, and Workplace in an AI-Driven World
The world of work is undergoing a rapid transformation, driven by technological advancements, changing employee expectations, and macroeconomic uncertainties. To explore the future of Jobs, Workforce, and Workplace, Indeed and Nasscom launched the fourth edition of their Future of Work report – Balancing Priorities in an AI-driven World at Indeed’s flagship event, FutureWorks 2024. The report highlights key trends in the job market, the role of AI in recruitment, and updates to simplify, accelerate, and humanize hiring processes.
Future of work: AI, Analytics, and Cloud are the “holy trinity”
Increasing integration of technology into workstreams is fundamentally reshaping traditional job roles. With the increasing adoption of AI across organizational functions, AI/ML and Analytics continue to dominate as the most in-demand job family, while Cybersecurity has overtaken Cloud to become the second-most sought-after domain. The top five in-demand job roles include Data Scientist/Analyst, AI/ML Expert, Cybersecurity Specialist, Cloud Architect/Engineer, and DevOps Engineer. In response, HR leaders emphasize core technical skills, a strong learning mindset, and analytical thinking and problem-solving abilities as the primary selection criteria. Meanwhile, both the current and future workforce regard AI/GenAI proficiency, creativity, communication, and leadership skills as critical to success.
The adoption of GenAI tools has seen a dramatic increase over the past year, evolving from proof-of-concept experiments to widespread commercial applications. A large portion of the workforce now actively leverages GenAI for diverse applications, including coding, programming, content creation, and beyond. The future workforce (students) is particularly using GenAI for Learning & Development, enhancing general knowledge, improving communication skills, seeking mentorship and advice, and exploring AI’s vast capabilities.
Notably, 70% of respondents from the current workforce express confidence in their readiness for the evolving job roles of the future. This optimism is largely fuelled by regular skilling and upskilling initiatives, driven both by mandated organizational programs and proactive self-learning efforts, underscoring a collective commitment to adapt to the rapidly changing job landscape.
Furthermore, as organizations become increasingly data-driven, AI, Analytics, and Cloud have emerged as the “holy trinity” driving this transformation. In tandem with this shift, HR functions are becoming progressively tech-enabled across the value chain. Companies are leveraging AI in various aspects of the recruitment and hiring process, such as automating CV screening to identify top candidates, generating gender-neutral job descriptions, enhancing knowledge sharing and learning initiatives, and streamlining candidate evaluation.
Workplace evolution: Hybrid models and the gig economy on the rise
While the future of work remains predominantly hybrid, the return to office is gaining momentum, with the average time spent in the office increasing by 1.2x. Key drivers of this shift include the need for stronger cultural connections, enhanced cross-team collaboration, improved employee engagement, increased leadership interactions, role-specific or customer-driven requirements, and a more immersive learning experience.
Further, there has been a noticeable increase in willingness among both the current and future workforce to embrace the gig model. Approximately 35% of each group expressed openness to gig opportunities, a significant rise from 23% for the current workforce and 28% for the future workforce in the previous year. Key skills driving demand for gig roles in the technology sector include Generative AI & Automation, Information and Cyber Security, Digital Transformation, Solution Architecture, and Data Engineering.
Gen Z and Millennials continue to represent the majority of the tech workforce. Across generations, factors such as brand value and opportunities for learning and growth remain key considerations when selecting an employer. Additionally, job satisfaction, job security, work-life balance, and career growth consistently rank among the top priorities for both generations when deciding to stay with an organization.
Sashi Kumar, Head of Sales, Indeed India said, “Indeed and Nasscom come together, to bring unmatched insights and clarity to critical conversations about the future of work. This partnership highlights the importance of upskilling, embracing hybrid models, and adapting to automation. With nearly 70% of respondents eager to apply new skills in real-world settings, the report underscores the need for organizations to bridge the gap between current readiness and future demands. By combining human creativity with AI-driven innovation, businesses can lead confidently in this new era of work.”
Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at Nasscom, said, “The future of work, workforce, and workplace continues to evolve as organizations embrace a ‘people-centric’ approach, addressing the needs of both current employees and the future workforce. Advancements in technologies, particularly AI and ML, are driving a transformation in the job market, reshaping the skills required—spanning both technical expertise and analytical or soft skills. Technology companies must implement policies and processes that are not only aligned with the changing dynamics but also adaptable to the continuous evolution of the workforce landscape.”
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