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AAs the world economy recovers from the havoc created by Covid, businesses are preparing to fully compensate for their losses in profits and productivity. Coupled with this passion are the radical changes we observe every day in the way products and services are consumed as well as disruptions in technology and the ecosystems built around them.
This critical combination of motives, competencies, and lack of skilled human resources has actually opened up various career trends that B-school graduates or MBA candidates can look forward to.
Robotics and automation
This is definitely a winning choice for graduates as companies face serious supply chains and labor shortages following the pandemic. The global industrial robotics market is $14.7 billion in 2020 and is expected to grow to $32 billion by the end of 2028. In addition, small and medium-sized technology companies continue to leapfrog capability and time, enabling routine business processes to be automated. .
Companies will be looking for skilled individuals with technical and managerial skills who can bring about change in domains such as network security, gaming, e-commerce, and dating apps, to name a few, by managing the entire robotics process (multi-purpose robot implementation, robot interoperability, robotics). autonomous delivery) and automation.
Continuity
Today’s world needs managers who cannot think, but also feel. We are clearly on the way to a green generation, a community of young managers whose main focus is aligning with the global parameters set by the sustainable development goals. Roles such as ecological sustainability business analyst, transportation analyst, energy control manager, regulatory framework manager, for example, are being considered and the hunt to fill these roles is ongoing.
Today’s agenda is to have a special position in a large company that will think and act purely from the perspective of social implications and encompass the overall well-being of the various business stakeholders.
AI and ML
Tech and digital startups and large consulting firms are looking for talent with the right knowledge, skills and attitudes to manage their businesses built on AI or ML-based technologies. This technology is increasingly being used in fields such as manufacturing, metaverse, cybersecurity, e-commerce, and many other fields.
The market needs managers who can drive the bottom-line by developing and managing AI-enabled products and services and using the fundamentals of machine learning and analytics at their core.
Health management
Major investments are being made to introduce new technologies around predictive and preventive healthcare. The size of the global healthcare app market is expected to touch $105 billion by the end of 2023, which was a meager $2.6 billion market in 2017.
Biotech and healthcare companies recruit MBA graduates who can quickly learn market dynamics and then apply the business fundamentals to expanding the size of hospitals and healthcare systems, managing costs, developing and maintaining community-based healthcare centers, and meeting evolving emergency needs. increase. health — something the pandemic has taught us.
Fintech and edtech
The financial services industry is rapidly moving into the hi-tech market with the help of new age technologies such as cryptocurrencies and blockchains, non-fungible-tokens, cloud computing, no-code and low-code, and hyper-automation, in order to provide superior productivity convenience to consumers.
We live in an era of fintech 3.0 which has gone beyond ATMs and online banking to mark its presence in services such as mobile wallets, robo-finance advisors, and peer-to-peer lending, to name a few. New age companies as well as large financial institutions are looking for managers who can effectively manage their fintech ventures and build share of the minds and wallets of consumers in a crowded market.
Similarly, edtech companies are also on the rise. With the help of technology, they are on their way to transforming the workforce by upskilling, upgrading, and retraining new and experienced business professionals. These companies are looking for new talent from B-schools who can multitask and manage strong business models that have compelling propositions for users.
For example, many educational technology companies are working on MOOCs to create meaningful conversations and seamless interactions between students and professors. Joining an edtech company to manage and grow its business should be on the MBA graduate’s choice list.
If you are about to graduate, look forward to these upcoming career trends with an open mind, an attitude to learning, and a passion to excel in the business world.
(The author is a Professor and Vice Dean (Academics), TA Pai Management Institute (TAPMI) Manipal, the constituent unit of the Manipal Academy of Higher Education (MAHE).)
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