Indian School Education System has miles to go as it has yet not evolved much, making the generation study everything just for grades, and most of it one may not even remember while perusing his carrier, also not add much value while following his passion unless you go to higher education which is more specialized.
Traditionally Indian higher education system has been very specific specializations in silos. When business moves fast, Technology is bound to move faster to drive the required transformation to compete with the changing demands. This is creating need of higher education to respond faster. Our education system is somehow not able to keep up with the pace the technology is evolving.
In today's generation of digital millennial, the technology is evolving every 2-3 years so the business is getting disrupted but our education courses are still changing at a very slow pace. The gap between what industry demands and what is being taught can be only bridged through higher education.
The higher education institutes have a great significance in creating opportunities to improve the employ ability score in evolving technology, market demands and shrinking margins.
In today's digital disruptive world as business and workplace are changing, it requires new ways of thinking, higher quality, and speed to market and demanding customer experience.
India is home to largest youngest population of the world, also is home to largest number of higher education institutes which has seen a phenomenal growth in number of people getting enrolled.
It is result of both government and private players getting into education stream setting up large number of institutes and universities, building capacity and creating awareness of value of higher education driving the sector to $100+ billion businesses by 2019.
Ability to think but fast, draw bigger picture, take higher risk and acceptance to fail fast is mantra to success with changing generation. The onus on these institutes becomes higher as these are generally niece technology and the skills required are very scarce.
The technology where these institutes should focus is Analytics, Data Science Artificial Intelligence, Machine Learning, Block Chain, and Robotics and Automation which are future skills. These technologies are changing how the business runs in retail, medicare, travel and hospitality, manufacturing, transport and many more, to bring more operational efficiency by slashing overhead cost, improve customer engagement and loyalty, and Increase workforce productivity.
With initiatives like Skill India, Make In India and so on, our traditional education system has to now change to multi-disciplinary and inter-disciplinary approach enabling inter-weaving of disciplines and blended learning making the millennial future ready.
Though the cost of higher educational instates and even the online courses are too high today, the increasing robust demand, rising investments, competitive advantages and improving supporting policies would help in growing this sector exponentially in coming years.