“The only way to look at the economy of innovation is to look at the humungous population and convert that into human capital. The ability to see value in deficiencies and inadequacies and generate value out of that is important,” Debashis Chatterjee, Director, IIM Kozhikode, said in his lecture on the 15th Foundation Day Lecture at ICFAI on ‘Globalising Indian Thoughts: Insights from Leadership Chronicles’.
“Skills that grow out of inadequacies are not learnt in universities,” he said. Chatterjee focused on the need to discover skills over developing skills and bringing them to the fore of conventional thinking. Referring to the enormous potential in India, he said that the world can learn from India on how to operate on scale and scope.
“Neither artificial intelligence nor natural stupidity can access that core of our existence that starts with I am; I am is my existential reality. No device can replicate this existential reality; it cannot be programmed. Our education is rooted in this whole journey of who’s this individual that’s pursuing this learning and for what purpose, it needs a new narrative”, he added.
He highlighted the importance of setting global benchmarks in research excellence. He concluded his speech by highlighting the three important roles that educational institutions play — research, teaching and consulting. He emphasised on the importance of flexpertise – expertise flexible enough to connect to the receiver of the value.
C Rangarajan, Chancellor, ICFAI Foundation for Higher Education, who presided over the function, said that what was relevant thousands of years back may not be relevant in the present situation. He said it is important to identify the ancient Indian knowledge that is relevant in the modern age.