Nueva Delhi: contrary to the common perception that artificial intelligence will eliminate jobs, a recent study by Bain and Company declared that the India’s sector will experience rapid growth, and employment openings are expected to exceed 2.3 million by 2027.
While the group of talents can grow to only 1.2 million, this presents a significant opportunity to establish and rent existing professionals.
Companies face a growing shortage of qualified professionals as they rush artificial intelligence solutions (AI).
44 percent of executives report that the lack of internal experience of AI is slowing down the ability of their businesses to adopt AI technology.
Since 2019, the demand for AI -related skills has increased by 21 percent per year, while compensation for AI professionals has increased by 11 percent each year.
Despite this, the number of qualified candidates has not followed the pace, causing a wide talent gap that is hindering the progress of AI for many companies.
“The AI is at the forefront of corporate transformation, but without the right talent, companies will have difficulty moving from ambition to implementation,” said Sarah Elk, director of AI, insights and solutions of AI of America in Bain & Company.
The investigation indicates that the shortage of talent is expected to continue up to at least 2027, affecting the global markets in different ways.
In the United States, Bain predicts that 2027 will be necessary to 1.3 million AI jobs, however, only 645,000 qualified professionals are expected to be available.
Similarly, Germany could face a shortage of 70 percent of its AI workforce by 2027, with the United Kingdom and Australia also experiencing important talent deficits.
Saikat Banerjee, partner and leader of the AI, Insights and Solutions Practice of Bain & Company in India, said: “India has a unique opportunity to position itself as a global talent center of Ia. However, by 2027, the Work openings in AI They are expected to be 1.5-2 times of the availability of talent. “
He added: “The challenge, and the opportunity, lies in the requirement and creation of a significant part of the existing talent base in emerging technological tools and skills.”