IIIT-Hyderabad in association with TalentSprint unveiled a report on Demand for Expertise in Disruptive Technologies among Technology Professionals. The report showcases trends among working professionals in Hyderabad on how they are gearing up to acquire expertise in the latest AI/ML technologies.
An analysis of applicant data reveals four key insights. First, professionals with more than five years in the industry are keen to upgrade themselves. Second, there is a rising demand for AIL/ML programs from professionals working in the IT services sector. Third, start-ups and small companies are embracing disruptive technologies rapidly. Fourth, women professionals and young professionals with less than 5 years of experience are not sufficiently aware of the need to acquire new expertise.
A recent NASSCOM report mentioned that many jobs which are available today may cease to exist in the next five years. Therefore, there is an immediate need to acquire new expertise in disruptive technologies.
According to Dr P.J. Narayanan, Director, IIIT-Hyderabad, “The IT industry is perhaps seeing an unprecedented churn which was not anticipated earlier. As the industry faces renewed challenges, we need to create an ecosystem to promote and propagate new disruptive technologies such as AI/ML which are set to take centre stage within the next 5 years.”
Wall Street Journal has predicted that Artificial Intelligence is the next Industrial Revolution. Thus, current technologies like Artificial Intelligence, Machine Learning and Deep Learning are fundamentally altering the workings of software and services companies. Start-ups and leading technology companies are embracing AI/ML technologies to stay ahead of the curve. But there still remains a huge gap in terms of talent and expertise, largely because of a historical focus on cost arbitrage, rather than cutting-edge innovation.
Some interesting insights in the report are:
· 33% applicants have over 10 years of work experience. This suggests there is now an urgency among senior professionals to acquire expertise in emerging technologies
· 73% applicants are from IT services companies. This suggests that disruptive technologies like AI/ ML are possibly already starting to impact these companies.
· 44% applicants are from start-ups and small companies. This suggests that these companies are early adopters of the AI/ML wave.
· Women and young professionals are still not adequately aware of the acute need to acquire expertise in disruptive technologies.
Dr Santanu Paul, MD and CEO, TalentSprint said, “Analysis of the data validates facts that were known for a while. Today, mid-level professionals are at an important crossroad and vulnerable in the face of automation. They have understood that only new expertise will add new value to their careers. What is also important is that we encourage more women as well as young professionals to achieve mastery in AI/ML.”
IIIT-Hyderabad’s Foundations of Artificial Intelligence and Machine Learning is being offered in association with TalentSprint. The first cohort of 400 professionals will commence their program on January 6, 2018.