India in GTCI 2020
India has moved up eight places to the 72nd position in the 2020 Global Talent Competitiveness Index (GTCI) that measures and ranks countries based on their ability to grow, attract and retain talent. Switzerland topped the list of 132 countries, followed by the US and Singapore. Although more could be done to improve the country's educational system (68th in Formal Education), India's key strength relates to growing (44th) talent, due to its levels of lifelong learning (40th) and access to growth opportunities (39th), the Global Talent Competitiveness Index (GTCI) report noted.
- The country's highest-ranked sub-pillar is employability, but the ability to match labour market demand and supply stands in contrast to the country's poor "mid-level skills", which result in a mediocre score in vocational and technical skills, the report said.
- India's greatest challenge is to address its weak ability to attract and retain talent, where strengthening the role of minorities and women would raise the level of internal openness.
- The GTCI report was launched by INSEAD, a partner and sponsor of the United Nation's Sustainable Development Goals (SDGs) Tent in Davos, Switzerland on 22 January 2020.
- Switzerland topped this year's ranking, followed by the United States, its highest position yet, while Singapore is the third most talent-competitive country.
- Other countries in the top 10 include Sweden at the 4th position, Denmark (5th), the Netherlands (6th), Finland (7th), Luxembourg (8th), Norway (9th) and Australia (10th).
- India's GTCI score and GDP per capita are both lower than the corresponding medians of its other emerging market economies such as BRICS - Brazil, Russia, China, and South Africa. Thus, the country's talent competitiveness is in line with what would be expected given its income level. China was ranked at the 42nd place, Russia (48th), South Africa (70th) and Brazil (80th).
- Report noted that the gap between high income, talent-rich nations and the rest of the world is widening. More than half of the population in the developing world lack basic digital skills.
- This year's GTCI report explores how the development of artificial intelligence (AI) is not only changing the nature of work but also forcing a re-evaluation of workplace practices, corporate structures and innovation ecosystems.
- There is little question that AI is a game-changer in every industry and sector. At this critical juncture, the race for AI-capable and AI-compatible talent and the quest to develop the skills required will only intensify.
- This is the seventh edition of the Global Talent Competitiveness Index (GTCI) report. With its global coverage and wide range of variables, the GTCI continues to broaden its readership and to be used as a reference of choice by governments, business, and talent experts around the world. Its city component is also rapidly gathering a large audience.
- This new GTCI report focuses on Global Talent in the Age of Artificial Intelligence, following the path initially explored by the GTCI 2017 theme of Talent and Technology.
- Big data—largely fuelled by the internet of things (IoT)— has taken deep learning and Artificial Intelligence (AI) to levels that, until a few years ago, many considered unreachable for several decades. But in and around AI, technical advances are often mismatched with the institutions and mechanisms necessary for their full social acceptance and sustainability: Regulatory, ethical, and values-based AI strategies are among the dimensions that require specific (and coordinated) efforts.