“The tech industry is constantly evolving, and it’s important for businesses and individuals to stay up-to-date on tech news and the latest trends. By doing so, they can position themselves to succeed in the years to come.”
The world of work is changing rapidly, and Pakistan is no exception. In recent years, the gig economy has grown significantly in Pakistan, with an increasing number of people choosing to work as freelancers or contractors. This trend is driven by several factors, including the rise of technology and the challenges posed by the country’s education system and limited job opportunities.
The gig economy is coming for your job. Are you ready?”
The gig economy refers to the growing number of individuals working as freelancers or contractors, taking on short-term projects for various clients without traditional long-term employment. Pakistan’s gig economy is on the rise due to several contributing factors. Firstly, the internet has provided a platform for easy client connectivity and accessibility. Secondly, the inadequate standard of education in the country has left many young people without the necessary skills for traditional employment, compelling them to explore alternative opportunities. Lastly, the gig economy offers flexibility and autonomy, attracting those seeking non-traditional work arrangements. While it can provide fresh possibilities for earning a living, it also presents challenges, such as job insecurity and a lack of benefits.
The Rise of Technology
A major driving force behind the gig economy’s growth in Pakistan is the rapid advancement of technology. With the help of technology, individuals can effortlessly connect with clients and execute tasks remotely, expanding their horizons for independent work opportunities.
As per research published by McKinney “The top trends in tech” By 2025, we estimate that 50 billion devices will be connected to the Industrial Internet of Things (IIoT), while 70 percent of manufacturers are expected to be using digital twins regularly (by 2023). Gartner says some 70 percent of new applications will use LC/NC technologies by 2025, up from less than 25 percent in 2020.
According to Bloomberg, in report published on December 1, 2021 — The global Metaverse revenue opportunity could approach $800 billion in 2024, up from about $500 billion in 2020. This proliferation of technological innovations means we can expect to experience more progress in the next decade than in the past 100 years combined, according to entrepreneur and futurist Peter Diamand and Steven Kotler, in the book “The Future Is Faster than You Think”
Tech literacy becomes core to every role, requiring learning to be continuous and built at the level of individual skills that are deployed at the point of need.
The Challenges Posed by Pakistan’s Education System
Another significant factor fueling the gig economy in Pakistan is the subpar state of education. Many young people lack the essential skills required for conventional jobs, leading them to turn to the gig economy as a viable means of earning a living.
The government and educational institutions in Pakistan need to take steps to ensure that young people are prepared for the gig economy. This includes providing them with the skills they need to succeed in the digital age, as well as ensuring that they have access to social safety nets.
Preparation for the Gig Economy
To prepare the youth for success in the gig economy, the government and educational institutions in Pakistan must take proactive steps. This includes providing them with relevant skills for the digital age and ensuring access to social safety nets.
The tech industry is changing faster than you can keep up. Don’t get left behind equip with Essential Skills
There are various avenues through which Pakistanis can acquire the necessary skills to thrive in the gig economy. Online courses have emerged as a valuable resource, offering knowledge in areas such as AI-as-a-Service, Genomics, DevOps, 5G, Artificial Intelligence (AI) and Machine Learning (ML), Internet of Things (IoT), Internet of Behaviors, and Edge Computing. Additionally, mentorship from experienced professionals and participation in workshops and conferences are effective ways to gain expertise.
The Significance of Education and Knowledge
In the future, education and knowledge will be more critical than ever. The workforce of tomorrow will require technology, problem-solving, and creativity skills. Equipped with these abilities, young people will be well-positioned for success. Moreover, the development of soft skills like communication, teamwork, and critical thinking is vital for thriving in an interconnected world.
Investing in Education and Training
To ensure the readiness of young people for the future economy, the government and educational institutions in Pakistan must invest in education and training. This investment will empower the youth with the skills needed to excel in the digital age, allowing them to contribute effectively to the nation’s progress.
Tech Trends in 2023 & 2024: Readiness for the Future
In addition to skills and education, staying abreast of the latest tech trends is crucial for businesses and individuals in Pakistan. Noteworthy trends expected to shape the future of IT and business in 2023 & 2024 include learning artificial intelligence (AI), blockchain, 5G, the Internet of Things (IoT), and cybersecurity. As technology constantly evolves, being up-to-date with these trends will position Pakistanis for success in the years to come and make them eligible for future jobs.
In short
The future of work in Pakistan is filled with promise. Armed with the right skills and education, the country’s youth can embark on successful and fulfilling careers. The gig economy provides valuable opportunities for gaining experience and honing skills. With unwavering dedication, young people in Pakistan can turn their aspirations into reality. As the gig economy continues to grow, it holds the potential to create jobs, drive economic growth, and empower the nation’s youth. By embracing this transformative shift and investing in education and technology, Pakistan can look forward to a bright future of progress and prosperity.