Talent on Lease is a new age online platform backed by who’s who of IT industry, created by industry veterans with a single motto “Making available Right Resources atRight Time and at Right Cost”.
Mr. Daya Prakash is the Founder, TalentOnLease. He has been working in the enterprise and digital technology domains for a little over two decades and have vast experience at a global level.
He has contributed to some of the industry leading global brands such as LG, ADP, UC Davis Cancer Hospital representing varied industry domains such as Manufacturing, Finance, Health Care, Hospitality, Media & Entertainment and IT/ITeS.
In an interaction with Techxty, Daya Prakash talks about the digital transformation for a better future. Read On!
Tell us something about yourself and what does talentonlease do?
My name is Daya Prakash and I have got almost 25yrs of experience in IT industry. I have worked almost 50% of the working tenure in the IT Services side and 50%in serving large corporates. The last position I held in the corporate world was in CIO, where I was responsible for the overall IT operations of the organization. So having worked both the sides, on the IT buying side to the IT providing side, I have been able to see the challenges and opportunities from both the sides. So there is a big gap which is faced by the industry today is of skill shortage. Also from all the recent reports of SHRM, KPMG, Carrier Builder report or any other report of the HR industry, the majority of the reports are talking about the huge gap between the demand and supply, the shortage of the IT skills and how it is hurting the enterprises. So what talentonlease does, is to bridge the gap between the demand and supply in the IT skill side. It is envisaged as a market place for IT services, focusing on two components, the people aspect, and the project aspect. We have started with the focus on people side gradually moving towards the project side. Companies during their journey of digital transformation, innovation, need a lot of work to be done from the IT side, for those peaks and demands, Talentonlease, having access to the B2B system, would come handy.
How artificial intelligence is advantageous in making the right resources available at the right time?
As I said, there is a huge gap between the demand and supply so it becomes very difficult for any organization to find the right resource. If we look at traditional sources, like social media sites, or some network of yours from where you can source the candidates, its very cumbersome and time taking process to shortlist the candidates. There is a lot of gap between what has been mentioned and what actual skills level the candidate possesses. So there come this artificial intelligence and machine learning which helps us extend our reach to an organization or a platform. It helps in connecting the right kind of candidates to the right position. Without the intervention of a human being, we can figure out whether the candidate is worth it or not. It saves a lot of our productive time. Looking at the people’s side there are two components, one is the technical skills, these candidates posses, the second is the soft skills like attitude, behavior, etc which also has great importance. So there is analytics which can also asses these soft skills, and the overall quality of the candidate, which could be far superior to what it could be otherwise. So AI & ML do play a vital role in selecting the right candidate.
How big data helpful in managing huge amounts of clients?
Looking at the client’s side, we get a lot of enquires from the potential customers. There is a lot of interaction which takes place with the clients, we get too much of data from multiple sources. In order to keep a track of it, all these information are fed in the system in the form of structural data. Working on it, we are able to capture the information about our clients as well as the candidates we are dealing with. Applying the concept of data analytics we can develop the overall operational efficiency, otherwise, it’s a very humungous task to keep track of everything. Without data analytics, the service and operational cost will also increase leading to inefficiencies. With the use of big data analytics, a fair amount of cost reduction can be done and efficiencies can be achieved, which will provide an advantage to the overall ecosystem.
Digital technology is essential for IT industry? How?
Talking about digital technology, from large to small enterpriseS, everyone today is on a journey called digital transformation. There are various examples in front of us, there are traditional organizations that would have taken decades and decades to reach a level they are in today versus the new age internet companies competing with them like Amazon, Google, Microsoft, Netflix, etc. All these companies today have disrupted the whole way of working which traditional organizations used to perform. They have completely displaced them or have given a very strong competition. Therefore, I would categorize digital technology into two buckets, one will be traditional or commoditize skills and the second one will be new-age skills. So, after my experience in interaction with the huge number of clients, I can say there is a demand for all sorts of technologies and the digital transformation wave will fulfill these demands and change the market completely.
What does the future of IT industry look like with AR/VR technology?
In the new age technology, we need a lot of skilled people, but the obvious question is that what we do with the existing IT talent. So, quoting this recent report which I read from NASSCOM, which said that there are almost 55 percent of IT workforce requires re-skilling or up-skilling. Achieving this at volumes is a very humungous task by following the traditional methods of training in classrooms or even online. Here what is required is more experiential learning. It is the only answer to address the challenge, to re-skill or up-skill this 55 percent of IT population. And there is a strong possibility that it could be achieved if we are using AR/VR technologies.