India has the potential to become a worldwide center for AI expertise, but a skill gap might impede its advancement. According to a recent report by Bain & Company, the country’s AI industry may see a shortage of more than a million qualified workers by 2027.
In order to satisfy the increasing need for AI knowledge, the research emphasized how urgently India must reskill and upskill its workforce.
“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 1.52x of the talent availability. The challenge — and opportunity — lies in reskilling and upskilling a significant portion of the existing talent base on emerging technology tools and skillsets,” said Saikat Banerjee, Partner and leader in Bain & Company’s AI, Insights, and Solutions practice in India.
According to the analysis, there may be more than 2.3 million job opportunities in India’s AI industry by 2027, and the country’s AI talent pool is predicted to reach 1.2 million, offering a chance to retrain over 1 million individuals.
AI-related job posts have skyrocketed since 2019, rising by 21% yearly, while the pay for these positions has increased by 11% annually.
There is a growing skill gap that might slow down the adoption of AI across businesses since the supply of trained AI specialists has not kept up with the demand, despite the high pay and spike in demand.
One of the biggest barriers to adopting generative AI technology, according to CEOs polled worldwide, is a lack of in-house AI knowledge. It is anticipated that this shortfall will continue until at least 2027, with differing degrees of influence on international markets.
A multifaceted strategy is needed to address the AI skills gap; businesses must prioritize ongoing upskilling programs to develop internal talent and abandon traditional hiring processes.
“The AI talent shortage is a significant challenge, but not invincible. Addressing it requires a fundamental shift in how businesses attract, develop, and retain AI talent. Companies need to move beyond traditional hiring approaches, prioritise continuous upskilling, and foster an innovation-driven ecosystem,” Banerjee said.
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