Hiring freezes and layoffs are expected to continue in India in 2018. Having said that, all hope is not lost.
In spite of the fact that the IT sector laid off more than 56,000 people in 2017, there is still very high demand for people skilled in new technologies. This is because jobs in domains such as Artificial Intelligence (AI), big data and machine learning have exploded in demand.
In 2018, the IT industry is expected to add somewhere between 180,000 to 200,000 new jobs in these new domains. These openings will be in both large global conglomerates as well as startups.
Data is expected to become very big in 2018. The cloud platform in collaboration with technologies such as AI, security, the blockchain, data analytics, Internet of Things (IoT) and cognitive intelligence will take the business world by storm. Organisations that are looking to stay ahead of the competition will invest heavily in these technologies.
Below, we discuss some of the domains that are expected to spur maximum job growth in 2018 –
AI
Whether it is a large MNC such as Infosys or TCS or a nascent startup, nearly all tech companies are expected to invest heavily in AI. AI is the technology that enables a machine to learn from experience and then perform tasks like human beings. TCS, India’s largest IT firm, has trained more than 200,000 employees in IoT and AI.
Businesses all over are aggressively pursuing this technology. In December of 2017, Flipkart announced its AI initiative through which it plans to use its ten years’ worth of data to find solutions that will help its business grow. As per its announcement, it will invest millions of dollars in this project.
Myntra, the fashion portal that is owned by Flipkart, has developed an AI platform named Rapid. It performs functions such as improving manufacturing processes and designing clothes. Transportation company Ola has plans to use AI in order to enhance customer experience.
Companies that plan to invest in AI will have to employ professionals who are skilled in machine learning which comprises of getting computers to perform human-like tasks, natural language processing which uses computation to analyze human languages and deep learning which analyses unstructured data.
Blockchain Specialists
What with the popularity of bitcoin exploding globally, this domain is expected to create a lot of jobs. Indian investors are investing heavily in cryptocurrencies. This is causing a lot of legal experts to call for regulations. With the need for regulations, there will be need of professionals who understand the technology.
Digital Marketing
Companies big and small are adopting digital technologies across functions such as communications, HR, warehousing, manufacturing, and operations. Similarly, marketing is no longer restricted to the conventional channels but has forayed into the digital medium as well.
The technological disruptions that are happening globally coupled with the strong emphasis on everything digital by the Indian government have had its effect on the Indian labor market. As more and more companies try to establish their digital footprint, there is bound to be a surge in the demand for digital marketing professionals.
Data Science
Some internet companies in our country have been around for some time and they have amassed a huge amount of data on their consumers. These companies now plan to use this data to their advantage to find solutions that will greatly enhance the value of their business. For example, Swiggy plans to mine the data it has gathered about its consumers to make its deliveries far more efficient.
Other new areas of expertise such as pharmacy analytics which is a combination of analytics and healthcare are also expected to produce demand for data scientists.
An experienced data scientist who has just a few years under his or her belt is expected to be in high demand in the job market. Even freshers are expected to get better opportunities than a typical java trained engineer.
Right now, data scientists, data analytics jobs, and machine learning are among the most sought-after profiles on online job searches in India.
Engineering students who have basic coding knowledge will find it tough in the present job market to get offers. Instead, HR experts are of the firm belief that in order to improve upon one’s employability, engineering students should get themselves Master Degrees.
Since most of the curricula taught at engineering colleges tend to be outdated, industry experts are of the opinion that in order to make up for this deficiency, students have to give emphasis to hands-on experience in the outside world over and above classroom theoretical coaching.
All said and done, students who manage to get through the top 100 or 200 colleges of our country will not face a lot of difficulties finding a job in this competitive market. However, in order for their offers to be lucrative, they will have to develop skills in new technologies.
