In addition to analytical thinking and innovation, active learning, complex problem-solving, and social impact and leadership, key skills that current and future CXOs must learn in 2024 and beyond are artificial intelligence (AI), sustainability and decarbonisation, and geopolitics (to the extent of its impact on supply chains), according to Emeritus, the leader in the $280-billion global professional education market.

Mohan Kannegal, CEO, India & APAC, Emeritus, told FE that being up-to-date in sustainability and geopolitics has assumed great importance, especially with the rising significance of events such as the United Nations COP (Conference of the Parties), and after the recent geopolitical crises – Covid-19, China Plus One, semiconductor shortage, Ukraine war, and so on.

“New-age CXOs will need to learn sustainability and geopolitics skills if they have to stay relevant in the job market, in addition to the other leadership skills that are required,” Kannegal said. “The AI revolution is new. The thrust on sustainability has accelerated. And geopolitics has become important since it hugely impacts our supply chains.”

Indian economy

India, Kannegal added, has emerged as a global leader in technology skills, and therefore there will be a larger emphasis on AI in India. “As the organised sector’s contribution to the Indian economy increases, the need for formal CXO skills becomes important,” he said. “India will also see a dramatic acceleration of fintech and digital government services. These will feed into rapid digitisation of all value chains. So, India will be more AI, fintech and digital-focused versus other markets.”

Skills by sectors

As far as skills by sectors are concerned, Kannegal said the manufacturing sector will be hugely impacted by electrification – electric cars, buses, two-wheelers, and the entire electrification supply chain including batteries, charging points, green energy, etc. “The shift from internal combustion engine to electric motor is key to manufacturing,” he said. “In the services sector, I think AI and digital will have the most important impact. For public sector employees, the key will be digital citizen services and sustainability. The Indian government is pushing hard on the sustainability front and there will be a thrust on decarbonising the economy via policies. The banking sector will be transformed because of fintech and government digital services. If eKYC, DigiLocker and DigiYatra reach the scale of UPI, we will see a revolution in credit in India. The banking sector may finally see an India where virtually every Indian can be a customer for credit.”

Sustainability jobs

Kannegal added that sustainability jobs are growing the fastest in Europe, second in the US, and third in India. “While the government has made early policy and directional efforts, India’s industry is yet to fully adopt sustainability as a mantra. But I think it will happen soon. At this point, sustainability jobs are fewer in India. I suspect sustainability will go the way of AI – a skill that is needed for everyone, not just for specific roles,” he said. “Everyone on every side of business will have to build sustainability skills. This is where some of our European courses on sustainability and circular economy will be very useful.”

CXO upskilling

As far as CXO upskilling trends are concerned, Kannegal added that Emeritus serves both aspiring and incumbent CXOs. “CXOs are absolutely open to learning – everyone is trying to make sense of the rapid changes that are happening around us. They are setting aside time to learn, as our enrolments indicate. A lot of learning we provide is very flexible, so while it is demanding on time, it is in an on-demand model, so schedules can be built around it,” he said. “I do not think age is a factor at all. We have course leaders who are younger, and who are older. CXOs are more interested in learning – irrespective of who is doing the teaching. They value expertise, not age. And if I may add my personal view to the matter – if you have the time to watch a web series online, you have the time to do an online course. The average web series is 10-plus hours. If you set aside some of that TV time to study, you can certainly upskill.”