Digital Skilling: How Trinity Of Govt, Edtech Startups, Tech Businesses Is Helping MSMEs Grow Online

Skilling, Labour, Talent for MSMEs: SMBs constantly struggle to attract and retain digitally-savvy talent. This heavily impedes the rate at which these businesses can adopt digital solutions and drive business benefits.

Skilling, Labour, Talent for MSMEs: India is forging ahead as the world’s fastest-growing economy, with startups, entrepreneurs, small and medium-sized businesses (SMBs) powering this economic development. While digital adoption among these businesses has helped drive this incredible growth, per a recent survey, Indian entrepreneurs, especially those with small and medium businesses (SMBs), view failures to keep up with technological advancements as a major growth challenge. They recognise the advantages of adopting digital technologies in terms of efficiency and market growth but get easily intimidated with rapidly evolving solutions in today’s digital age.

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It is also common knowledge now that SMBs also constantly struggle to attract and retain digitally-savvy talent. This heavily impedes the rate at which these businesses can adopt digital solutions and drive business benefits. According to a recent study, 85 per cent of Indian businesses consider reskilling their existing workforce for digital adoption, to be critical for their growth. This is because, business leaders today understand that working with intelligent systems with algorithmic and artificial intelligence capabilities requires extremely technical skills like complex reasoning, problem-solving, and interpreting data that go beyond simple technical capabilities.

Source: Financial Express

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