The Economic Benefits of Tech Savvy with Amazon Web Services Insights from Analytics Insight

As technology continues to shape and transform the way we work, it’s become increasingly clear that digital skills are no longer just a nice-to-have, but a necessity for anyone looking to succeed in today’s economy. New data from Amazon Web Services (AWS), an firm, suggests that workers in India who use advanced digital skills, such as cloud architecture or software development, are predicted to contribute US$507 billion (about US$10.9 trillion) to India’s annual gross domestic product (GDP).

The “Asia Pacific Digital Skills Study: The Economic Benefits of a Tech-Savvy Workforce,” commissioned by AWS and carried out by Gallup, looked at how developing a workforce that is equipped with modern technology offers major advantages for individuals, businesses, and the economy.

About AWS:

The most complete and widely used cloud service in the world for more than 15 years is Amazon Web Services. With over 200 fully featured services for computing, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), the Internet of Things (IoT), mobile, security, hybrid, virtual, and augmented reality (VR and AR), media, and application development, deployment, and management from 96 Availability Zones across 30 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Australia, Canada, Israel, New Zealand, and Thailand. Millions of clients trust AWS to power their infrastructure, make them nimbler, and cut expenses. These clients include the biggest corporations, the fastest-growing startups, and the top government organizations.

Insights from the Program

Mastering Digital Skills Leads to Job Satisfaction and Security

The Gallup and AWS survey found a strong correlation between digital skill mastery and employee job satisfaction and security. Advanced digital skills increase the likelihood of considering one’s job near-ideal by 72% and reporting greater job security by 72%.

Amazon Commits Hundreds of Millions to Provide Cloud Computing Training

Amazon is investing in the future by providing free cloud computing training to 29 million people worldwide by 2025. This commitment is in response to the impact of increased technical knowledge and to help bridge the digital skills gap.

Advanced Digital Skills Add Trillions to Global GDP and Boost Worker Income and Productivity

The study reveals that advanced digital skills, such as cloud architecture and software development, raise global GDP by an estimated US$6.3 trillion annually. Companies that use digital skills at a high-level report annual revenues that are approximately 168% higher than companies that do not use digital skills. Workers with intermediate digital skills earned 40% more, and individuals with advanced skills saw a 65% increase in earnings.

Investing in Digital Skills Provides Economic, Innovation, and Performance Benefits

As technology continues to transform our lives and workplaces, investing in digital skills provides economic, innovation, and performance benefits. Companies that integrate advanced digital skills, digital technologies, and cloud technologies outperform their non-digital counterparts. Furthermore, 66% of companies that run some or all of their business in the cloud reported innovating products or services in the last two years.

India’s Digital Transformation Relies on Building a Strong Pipeline of Cloud Talent

AWS is working with organizations in India to help bridge the digital skills gap and provide economic benefits from building a strong pipeline of cloud talent. AWS has trained over four million people with basic, intermediate, and advanced cloud skills in India since 2017, and they continue to invest in the future.

Conclusion: The main findings of the study, which was conducted from August 2 to August 23, 2022, show a significant correlation between improvements in employee job satisfaction and mastery of digital skills. Compared to less than half (43%) of employees with basic digital skills, over three-quarters (72%) of those with advanced digital skills think their jobs are almost ideal. Likewise, employees who possessed sophisticated digital skills reported having more job security (72 percent vs. 48 percent). These were some of the key insights from the recent meeting held on “The Asia Pacific Digital Skills Study: The Economic Benefits of a Tech-Savvy Workforce,” which was commissioned by AWS and conducted by Gallup.

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