According to a survey released on Monday, it is crucial to acquire specialized skills in order to match employer expectations, even as India becomes a hub for global IT outsourcing and a fertile ground for technology entrepreneurs.
According to data, artificial intelligence (AI) could boost India’s GDP by $500 billion by 2025 and $967 billion by 2035.
The CEO of NLB Services, a company that offers technology and digital talent solutions, Sachin Alug, states that fields including data analytics, machine learning, cybersecurity, banking and wealth management, digital marketing, robotics, artificial intelligence, and cloud computing are popular choices for upskilling.
He stated, “These programs can result in salary increases of 15-20% in Tier 2 and 3 cities and 20-30% in metro areas.”
Upskilling course enrollment is on the rise among fresh talent from tier 2 and 3 cities, mostly due to the need to stay relevant, ubiquitous internet access, and the emergence of e-learning platforms.
In terms of upskilling initiatives, Bengaluru and Chennai lead, followed by Hyderabad, Delhi, Mumbai, and Bangalore.
According to a recent research, only 29% of recent Indian graduates working in white-collar occupations are confident they would be able to hold onto their jobs in FY25. It revealed that people with engineering degrees and working in the IT, telecom, and tech industries value upskilling for their jobs.
The gender diversity in upskilling was also noted in the research.
About 20–25 percent of women working in IT are actively participating in these upskilling programs, but the research also noted that 30-35 percent of them feel unconfident since they haven’t received enough training in cutting-edge technologies like robotics, cloud computing, and generative AI.
The report also stated that by 2030, 5 million new employment related to AI are anticipated to be created in the manufacturing sector. “Contrast with retail, which may lose 850,000 jobs by 2025 but gain 4 million new roles centered around AI,” is what this means.
He therefore urged decision-makers to launch calculated efforts to meet these changing demands.
The report stated that “a proactive strategy for continuous learning and upskilling is required to succeed in the AI-driven future; otherwise, India may experience instability owing to insufficient upskilling in the IT sector, particularly in AI.”
According to the “India Skills Report 2024,” artificial intelligence (AI) is expected to generate 1.6 million new employment in the healthcare industry by 2030, while the banking sector may experience a one million job loss but also add 1.5 million new AI-skilled jobs.
