Even with the third-largest developer base and a substantial tech-savvy talent pool, India lags behind its peers on major AI indicators. This is despite a thriving startup ecosystem, high-growth companies which have made a substantial investment in setting up CoEs and the Government investing in building a robust tech infrastructure.
Behind the AI and data analytics boom, lies the story of a massive talent gap as workforce struggles to remain employable. The skills’ shelf life has shortened, with technology changing exponentially over the last decade, skills that were relevant at the beginning of the career have become obsolete. In order to remain employable, the workforce needs to reskill to take advantage of new opportunities. The rise of edtech companies in India is not surprising, given the huge clamour for continuous learning that has taken root in the professional sphere. This is backed by the rise of emerging technologies — artificial intelligence, its subset machine learning and data science which has spawned a booming job market revolving around new technologies that has substantially transformed India’s IT labour market.
The changing job economy has resulted in new opportunities for the Indian workforce. As estimated by a consulting major, AI has the potential to add US$957 billion, or 15 percent of India’s current gross value in 2035. The booming economy, fuelled by AI and advanced analytics requires more Indians to enter the workforce with a different skill-set. As per our estimate, close to 97,000 AI positions lie vacant in India.
But, the challenges are also increasing multifold — on the one hand India Inc is struggling with disruptions like automation that are redefining jobs and secondly, it is grappling with finding the right talent with the right skillset for AI/ML and data science teams. Meanwhile, the upcoming generation that will enter the workforce soon is fed on an outdated curriculum that hasn’t kept up with the industry’s demands. In our report, we dig into the educational stakeholder landscape to see how they are transforming the skills market by developing training courses and certification programmes that correspond to in-demand skills required today. We look at the type of educational institutions offering data and analytics programs; how the educational landscape is changing in response to the heightened demand for analytics skills and what needs to be done to fill the skill gap.
The second half of the report looks at our last three years ranking data to find out the winning attributes that have helped analytics institutes rank on top consistently and how other training institutes have fared over the last three years.
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