The Growing Demand for AI Expertise
India’s corporate sector is racing to upskill its workforce in artificial intelligence (AI), giving rise to a significant talent crunch. Companies across industries, including banking, healthcare, IT, pharmaceuticals, medical devices, telecommunications, and insurance, are vying for experts who can tackle complex AI problems and possess advanced digital skills. The fierce competition has led firms to offer enticing salary hikes to lure AI specialists with five to six years of experience at product companies.
The Role of AI Experts
These sought-after AI experts are not only expected to solve complex problems but also to develop AI workshops and courses to train their less skilled colleagues. They play a crucial role in bridging the skills gap and ensuring that companies can fully leverage the power of AI.
The Hiring Surge
According to Vijay Sivaram, chief executive of Quess IT Staffing, there has been a 30-35% increase in hiring mandates for AI-skilled engineers across sectors over the past year and a half. This surge in demand is partly attributed to the hype surrounding AI, with companies eager to demonstrate their commitment to the technology.
The Challenge of Finding Qualified Candidates
Despite the high demand, finding employees with the necessary training and experience in AI, data science, coding, and product management remains a challenge. Companies are also seeking individuals with a grasp on the ethical implications of AI, a crucial aspect often overlooked.
The Importance of AI Training
The demand for AI training is particularly strong in the IT sector, one of the largest consumers of digital skills. By investing heavily in training modules, the sector anticipates improved bottom lines and increased productivity. Generative AI (GenAI) technologies, capable of producing content in the form of text, images, and audio, are expected to significantly boost productivity.
The Proliferation of AI Courses
To meet the growing demand, online course platforms like Coursera have witnessed a dramatic increase in AI course enrollments. Coursera has enrolled over 600,000 students for its GenAI course since the beginning of 2023, reflecting the widespread interest in AI upskilling.
A Race for Talent
The competition for AI talent is fierce, with companies offering attractive salaries, perks, and training opportunities to secure the best minds in the field. As the adoption of AI continues to accelerate, the demand for AI experts is expected to remain high, creating ample opportunities for those with the necessary skills and expertise.
