As India’s information technology sector faces job cuts amid rapid adoption of new technologies, P Venkatesh, director and co-founder of Chennai-based Maveric Systems Ltd, said academia must embrace a vocational training model to make IT engineers and professionals industry-ready.
“I don’t think at any point in time—even 50 years from now—we can say that academics will consistently produce industry-ready talent. This will always be debated,” Venkatesh said. “Academia will lag behind industry. By staying outside, they need to integrate strongly with industry. Only then is it possible.”
Citing the success of Industrial Training Institutes (ITIs), Venkatesh said vocational education has proven its relevance. “Take the example of ITI training institutes. Have you seen electrical or manufacturing companies ignoring ITI talent? They are trained specifically for those roles, and that’s why they succeed,” he said.
According to him, a shift towards vocational education is a step forward across sectors. “Whether it is manufacturing or services, vocational training is the way to go,” he added.
Established in 2000, Maveric Systems is a niche banking and financial services technology specialist, focusing on operations and technology transformation using AI, data and automation. The company was founded by Ranga Reddy, P Venkatesh, Subramanian N N, and Mahesh V N, who began their career as management consultants.
Venkatesh observed that pricing models in the IT sector are likely to change with the adoption of artificial intelligence, though the shift is still at an early stage. “For pricing models to change, the technology has to evolve and deliver accurate outcomes. Testers need to be trained to use simpler prompts, and machines must evolve to process faster and more accurately,” he said.
He explained that transactional pricing models, with minimum thresholds and agreed volumes, are emerging. “In such models, as volumes go up, transaction pricing comes down. There are slab rates, and at current volumes, this can lead to a 40–50% reduction in costs,” he said.
On India’s aggressive push to set up data centres, Venkatesh said power consumption would remain a bigger challenge than water availability for cooling. “Google has perfected this model. They are setting up operations in Visakhapatnam with a subsea cable network and alternative energy infrastructure. This allows them to scale up energy requirements whenever needed,” he said.
FAQ
1. Why is vocational education important, and how is it relevant across industries?
Vocational education builds hands-on, job-specific skills through practical training, preparing people for diverse industries and enabling them to be productive.
2. How can academia help IT engineers and professionals stay industry-ready?
Academia should adopt a vocational training model and integrate closely with industry to better prepare engineers and professionals.
3. How is AI affecting pricing models in the IT sector?
4. What improvements are needed for AI to drive this change?
AI systems need to become faster and more accurate, and testers should be trained to use simpler and more effective prompts to support the transition.
About The Author
As the Co-founder and whole-time Director at Maveric, P Venkatesh (PV) leads the global thought leadership function aimed at shaping and promoting Maveric’s perspectives as well as expertise in the banking technology space. By building relationships with industry influencers, partners and BankTech ecosystem leaders, PV drives creation of impactful frameworks, methodologies and landscape reports that provide informed perspectives on new age technologies that shape the BankTech space.
Originally Published in The New Indian Express
