AI impact, rising costs reshaping Gen Z careers towards multiple income streams: Report
New Delhi, July 16
Impact of Artificial Intelligence and rising living costs, the growth of gig work and the need for greater flexibility are prompting India's Generation Z to build multiple income streams instead of relying on a single employer, according to a report by International Workplace Group.
The report said India's Gen Z is entering the workforce at a time when AI adoption, rising costs of living, gig work, flexible workspaces and urban commute stress are converging.
It stated, "Gen Z professionals are rethinking their careers, driven by flexibility, AI fluency and multiple income pathways, rather than a single linear job".
According to the report, Gen Z professionals are increasingly building "portfolio careers" by combining multiple income streams to future-proof themselves in an uncertain economic and technological environment.
The report found that 55 per cent of Gen Z believe AI will reshape their careers. In response, many young professionals are proactively developing new skills and diversifying their income sources to remain adaptable as job roles continue to evolve.
The trend also aligns with the rapid expansion of India's gig and platform economy. Citing NITI Aayog's report, India's Booming Gig and Platform Economy, IWG said 7.7 million workers were engaged in India's gig economy in 2020-21, with the number expected to rise to 23.5 million by 2029-30.
According to the report, portfolio careers, freelance projects and platform-enabled work are likely to become a more prominent part of India's employment landscape as younger professionals seek greater financial resilience and flexibility.
The report also noted that the future of work is changing as AI increasingly takes over technical and repetitive tasks, making human capabilities more valuable.
Financial security remains a major factor behind career decisions. Among Gen Z respondents who changed jobs during the past three years, 30 per cent said securing a higher salary was their primary motivation, while 43 per cent changed roles two to three times during the same period.
The report also highlighted that hybrid and flexible work arrangements are supporting this trend. It found that 24 per cent of respondents said hybrid work reduces commuting time, allowing them to spend more time on personal projects or additional income streams.
Meanwhile, 20 per cent said flexible work allows them to explore new career opportunities without leaving their main job, while 21 per cent said it enables collaboration with professionals outside their primary industry.
According to the report, India's changing work environment, supported by AI, flexible working and the growing gig economy, is encouraging Gen Z to focus on adaptability and diversified sources of income rather than depending on a single long-term employer.
— ANI
Reader Comments
While diversification is good, I worry about the lack of stability. My parents had one job for 30 years and retired comfortably. Now, we're expected to juggle multiple gigs with no job security or benefits. The gig economy is growing, but where's the social safety net? 55% thinking AI will reshape careers doesn't mean we should all panic. Some perspective needed.
Finally, a report that captures reality! I'm a freelancer and I love the flexibility. The commute stress in Mumbai was killing me — now I work hybrid and use that saved time to upskill. AI is not a threat if you learn to work with it. Portfolio careers are the future, no doubt. Agree with the 43% who changed jobs multiple times — loyalty to one company is outdated.
Interesting data from IWG, but let's not forget that 7.7 million gig workers in India is still a small fraction of our workforce. Many Gen Z are still struggling to find even one stable job. Multiple income streams sound good in theory, but not everyone has the resources or time. Need more government support for upskilling and better labour laws for gig workers.
As someone who started freelancing during college, I can totally relate! The flexibility to work from anywhere and explore different fields is amazing. AI tools have helped me automate boring tasks so I can focus on creative work. But yes, financial instability is real — sometimes projects dry up. Need to be smart about savings. Overall, a good trend for young Indians! 💪
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.