Emerging technologies, including artificial intelligence (AI), cybersecurity, cloud computing and data science, as a whole, are projected to generate around 1 million jobs by 2030, news agency PTI reported citing a report by Quess IT Staffing, a tech staffing solutions provider.
Apart from jobs, these emerging technologies are also expected to contribute over $150 billion to India’s economy by 2030, the report ‘Technology Skills Report, December 2024’ claimed.
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“India’s technology workforce is witnessing a transformative shift," said Kapil Joshi, CEO of Quess IT Staffing. "The synergy of traditional skills like ERP (enterprise resource planning) with breakthrough technologies such as AI and ML and quantum computing presents unparalleled opportunities.”
As a result, India's total IT workforce is projected to grow from the current 5.4 million to 7.5 million by 2030, adding more than 2 million jobs.
Blockchain, as well as cybersecurity technologies in particular, are crucial to the banking, financial services and insurance (BFSI) sector for secure transactions, fraud detection, and identity management.
Global blockchain hiring demand grew 76% year-on-year in 2023, while in India, it was a 60% rise between 2021 and 2023.
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AI and machine learning (ML) on the other hand have applications such as personalised customer interactions and advanced analytics for risk management. In healthcare, it can aid in predictive analytics, personalised medicine, and telehealth.
Data science also holds significance for healthcare when it comes to drug discovery and patient data analysis.
Retail and e-commerce sectors can use these technologies for personalised recommendations, inventory management, and dynamic pricing.
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Cloud computing hiring grew globally by 30-35% year-on-year in 2023 alone, due to demand from sectors like IT services, consulting, media, telecommunications (TMT), and auto.
When it comes to geographical trends, Bengaluru continues to dominate the tech hiring landscape, accounting for 43.5% of the demand, followed by Hyderabad at 13.4% and Pune at 10%.