The AI sector in India is expected to exceed 2.3 million job openings by 2027, necessitating significant reskilling and upskilling of the workforce. Bain & Company reports that while the AI talent pool may grow to 1.2 million, the demand for skilled professionals will outstrip availability, presenting both a challenge and an opportunity for organizations. Global markets are experiencing similar talent shortages, further urging the need for strategic employee development.
The artificial intelligence (AI) sector in India is projected to generate over 2.3 million job openings by the year 2027, as confirmed in a report by Bain & Company. This growth highlights the necessity for reskilling and upskilling the current workforce to adequately meet the demands of this expanding sector. The AI talent pool in India is anticipated to grow to approximately 1.2 million, allowing for the reskilling of more than 1 million workers.
Saikat Banerjee, a partner and leader in Bain & Company’s AI practice in India, stated, “India has a unique opportunity to position itself as a global AI talent hub. However, by 2027, the job openings in AI are expected to be 1.5-2x of the talent availability…” This indicates that significant efforts toward reskilling and upskilling will be essential for the existing talent base to adapt to emerging technological demands.
Mr. Banerjee emphasized that while there is a notable shortage of AI talent, it is surmountable. He noted that addressing this challenge would require a comprehensive transformation in the methods businesses use to attract, develop, and retain AI talent, advocating for an environment that prioritizes ongoing skill development and innovation.
Globally, AI job postings have risen by 21 percent annually since 2019, with salaries increasing by 11 percent during this period, yet the number of qualified candidates has not progressed at the same rate. This disparity contributes to a significant talent gap, hindering AI adoption across various industries.
A survey revealed that nearly 44 percent of executives perceive the lack of in-house AI expertise as a primary obstacle to implementing generative AI solutions. This talent gap is projected to continue impacting the job market until at least 2027. In the United States, for example, approximately half of the AI roles could remain unfilled by 2027, despite a predicted demand for over 1.3 million AI jobs.
Germany is anticipated to experience the most considerable AI talent deficit, with around 70 percent of AI positions expected to go unfilled. Similarly, the UK may face shortages of more than 50 percent of qualified AI professionals, with only 105,000 available to meet an estimated demand for 255,000 roles by 2027. Australia is also likely to encounter a deficit, with over 60,000 unfilled positions anticipated by 2027, given its projected supply of only 84,000 AI specialists.
The report highlights a significant surge in job opportunities within India’s AI sector, emphasizing the necessity for effective reskilling and upskilling initiatives. To navigate the anticipated talent gap, it is crucial for companies to innovate their talent acquisition strategies and foster an environment conducive to continuous learning. Additionally, similar challenges are evident in various global markets, underscoring the urgency for concerted efforts in enhancing AI talent availability.
Original Source: www.ndtv.com
