BML Munjal University survey highlights 65% embrace AI revolution while 44% of Gen Z concerned about job market
Highlights:
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The report, Unveiling Tomorrow: Empowering Gen Z in a Changing World succinctly captures significant insights into Gen Z’s attitudes and concerns regarding technology, climate change, education, wellness and sustainability
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Around 65% of Gen Z believes AI will significantly impact various aspects of human life
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Approximately 44% of Gen Z believes job market uncertainty and around 28% ethical dilemmas are major challenges posed by AI
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Almost 48% of Gen Z expressed substantial concern about the issue of climate change
Gurugram : BML Munjal University (BMU), a Hero Group initiative, announces the successful conclusion of its fourth annual BRIJ Leadership Summit on October 6, 2023. The summit brought together prominent thought leaders, industry experts, and young trailblazers to explore and discuss critical themes relevant to Gen Z, including technology, climate change, and wellness. On the sidelines of the summit, the university also released a survey report titled, “Unveiling Tomorrow: Empowering Gen Z in a Changing World.” The survey sheds light on the perspectives, aspirations, and challenges Gen Z faces in three pivotal domains of the contemporary business world: technology, climate change, and wellness. By sharing the findings of the said report, BMU aspires to further the legacy of its founder Dr. Brijmohan Lall Munjal by illuminating the path for the next generation, the Gen Z, as they navigate an ever-evolving global landscape.
The summit was graced by the presence of distinguished guests, including Mr. Siddharth Shah, Co-founder and CEO of API Holdings and PharmEasy, as the chief guest. Other esteemed dignitaries who participated were from organisations like Hero MotoCorp Limited, Boeing, Aditya Birla Capital, Ernst & Young, Bain & Co. and Grant Thornton Bharat.
Three insightful panel discussions took centre stage during the summit, shedding light on the evolving landscape for Gen Z. The first panel, ‘Gen Z and Technology: Users and Creators,’ highlighted Gen Z’s role in shaping technology as creators, not just users. The second panel, ‘Gen Z and Climate Change: Actors and (Change) Agents,’ emphasized their proactive stance in countering climate anxiety with optimism. The final session, ‘Gen Z and Wellness: Adopters and Promoters,’ discussed how Gen Z is redefining wellness by blending traditional methods with modern technology for a healthier lifestyle.
Addressing the attendees, Siddharth Shah, Co-founder and CEO of API Holdings and PharmEasy, said, “In the journey of entrepreneurship and in life, we often encounter challenges and situations that make you feel like the end of the world. But it’s crucial to remember that failure is the cornerstone of success. It’s our passion, perseverance, and the ability to pivot that turn these failures into stepping stones to greatness. Embrace failure, learn from it, and never make the same mistake twice. With dedication and a relentless spirit, you can transform setbacks into success stories. So, keep your fire burning, and remember, even in the darkest moments, there’s always a light at the end of the tunnel.”
Insights from the survey report “Unveiling Tomorrow: Empowering Gen Z in a Changing World”
Gen Z and Technology
Gen Z places significant value on technology’s ease of use and accessibility, advocating for its integration to enhance learning experiences, particularly emphasizing game-based learning. They prioritize sustainability and tech accessibility, requiring strategic engagement for innovation.
The survey findings offer valuable insights into the mindset of Gen Z. When it comes to technology, an impressive 65% of Gen Z individuals believe that AI will play a substantial role in various aspects of human life, and 33% foresee its influence on society in the future. However, there’s a significant concern among 44% of respondents about how AI might lead to uncertainties in job markets and potential job displacement due to rapid technological advancements. Ethical considerations and privacy issues also weigh on the minds of 28.7% of participants. Most notably, a substantial 62.8% of Gen Z respondents express genuine worry about AI potentially disrupting traditional job roles and employment stability, underlining the importance of educational reforms and AI-related courses to prepare them for the changing job landscape. On the other hand, the fear of AI leading to substantial workforce disruptions and subsequent unemployment is a significant issue, indicating the need for comprehensive strategies to address and mitigate these concerns. This anxiety underscores the critical call for educational reforms, particularly the integration of more AI-related courses and programs, as highlighted by 47.4% of respondents.
There’s a palpable fear among Gen Z about AI displacing traditional jobs, highlighting the need for proactive strategies, including comprehensive education reforms, mentorship, and balancing tech advancement with job preservation. Data privacy and ethical tech use are also vital for a responsible tech-driven society.
Gen Z and Climate Change
Gen Z is maturing in a world where climate change is an immediate and urgent concern, significantly shaping their beliefs, behaviours, and activism. Early awareness and the drive to work towards a better future in Gen Z can be attributed to childhood sensitization.
In an interesting finding around climate change, the survey highlights that approximately 50% of respondents are significantly concerned about this pressing issue, with 33% expressing moderate concern and a minority showing no apprehension. Effective climate change measures endorsed by respondents include transitioning to renewable energy sources, stricter emissions regulations, investment in sustainable infrastructure and transportation, sustainable agriculture promotion, and climate change awareness. Furthermore, a remarkable 40.2% of Gen Z individuals are willing to actively support environmentally sustainable companies, indicating a growing awareness and commitment to addressing climate change and sustainability.
Gen Z’s proactive approach to sustainability and impact on corporate sustainability initiatives and their role in fostering a culture of sustainability within organizations are central themes that emerge from these dialogues, showcasing their transformative potential in the long run.
Gen Z and Wellness
Gen Z, as a digitally forward generation prioritizes holistic wellness and redefines wellness as holistic, covering physical, mental, and social well-being, prioritizing mental health, relationships, and care access. They prefer sustainable, ethical, and inclusive products and services. They are championing the cause of Diversity, Equity, and Inclusion (DEI) in the workplace.
Gen Z’s wellness priorities were a highlight at the summit, with 48% emphasizing the importance of mental and emotional well-being as per the survey. They seamlessly integrate technology but grapple with stress and anxiety, mainly due to a fear of failure and a preference for digital communication.
Gen Z’s wellness app usage is on the upswing, reflecting their tech-savvy nature and emphasis on well-being. Notably, fitness apps and social media for well-being support are popular among them, underlining their holistic approach to health. 74% (40.4% strongly agree and 33.6% agree) of Gen Z are looking for food companies that are transparent about their product’s health benefits. This suggests that Gen Z is taking a more informed approach to their eating habits and is looking for food companies that they can trust. Gen Z is more likely to be interested in beauty brands that champion body positivity and self-acceptance over conventional beauty standards
Gen Z often struggles with finding a balance between formality and informality in work settings. Additionally, they face challenges related to stress and anxiety, primarily stemming from a fear of failure and their preference for digital-centric communication.
Speaking at the summit, Prof. Shyam Menon, Vice Chancellor, BMU, said, “The BRIJ Leadership Summit 2023, holds a significance that transcends our annual tradition. It is emblematic of the very values that our university stands for. Leadership is not about authority; it’s about guidance, it’s about values, it’s about contributions, it’s about lighting the way, it’s about legacy. And he was the very embodiment of these principles. His leadership journey became a roadmap for countless others, teaching us that with resilience, determination, and a vision, one can transform the world.
This year, our summit turns its gaze upon Gen Z, a generation that stands at the crossroads of tremendous change. As the true digital natives, Gen Z is reshaping the narrative with their passion, their unique perspective, and their commitment to building a more equitable and sustainable world.”
Dr. Ritu Chikkara, Chair, BRIJ Leadership Summit, Associate Professor of Marketing and Sustainability, BMU added, “BML Munjal University’s ambitious Gen Z project is our pledge to study this dynamic generation across continents, understanding their aspirations, fears, hopes and dreams. It is an acknowledgement of their transformative power, a power that will shape technology, enforce climate change, and redefine wellness.”
The BRIJ Leadership Summit has once again provided an invaluable platform for insightful discussions, fostering a deeper understanding of Gen Z’s aspirations, concerns, and potential to shape a better future.
Survey Methodology:
The report is based on a survey of 700 Gen Z individuals across India and 20 in-depth interviews with industry experts.
Secondary Research:
Before primary data collection, extensive secondary research was conducted, including academic journals, industry reports, articles, and white papers, to understand Gen Z behaviour and attitudes.
Qualitative Analysis:
Additionally, 20 in-depth interviews with industry leaders and experts were conducted, using open-ended questions to gain nuanced insights into Gen Z’s opinions and values.
The combination of quantitative and qualitative methods provided a robust foundation for analyzing and interpreting the complex interplay between Gen Z and the themes of Technology, Climate Change, and Sustainability.
To view the highlights of the summit, please visit https://www.youtube.com/