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Decoding IT Skills in Demand

With new technologies emerging and innovation being the need of the hour, we must understand the changing needs of workplace expectations and the new IT skills in demand. It’s very safe to assume that the best tech skills for remote work required will revolve around digitization. Change is the only constant, and corporations also need to hire a workforce that help them cope and grow with it.

The global AI market demand stood at 327.5 billion USD in 2021, and IT spending worldwide stood at 4.07 trillion USD in 2021 (Statista).

Year Market Size Technology
2021 327.5 billion AI Market
2021 4.07 trillion IT spending worldwide

The pandemic has attracted new digitization jobs and automation is set to supplant conventional occupation jobs that include repetitive tasks. Practically all organizations have accelerated their digital transformation initiatives, and employees are incorporating the best IT skills in their resumes.

Figure 1: Future of AI

WHAT AUTOMATION WILL MEAN FOR FUTURE LABOR MARKETS?

Automation is set to dislodge numerous positions in the coming 10 to 15 years. 50% of all employment activities could be automated, and up to 30% of the global workforce could be uprooted by 2030 (McKensey). With continuous changing work environments and the demand for new skills, by 2030, automation will take up to 69% of the tasks that were provided to the workforce.

DEMAND FOR NEW-AGE IT SKILLS

The top 10 IT skills in demand in 2021 are as mentioned below.

  • Artificial Intelligence
  • Machine Learning
  • Internet of Things
  • Python
  • Cyber Security
  • Machine Learning
  • AR/VR
  • Block-chain Technology
  • Cloud Computing etc.
  • Big Data

Specialized abilities in IT are fundamental in the present changing world. Gaining knowledge of IT skills will help new entrants in the long run. Novice flairs can work for corporations or even consider doing freelancing. Every industry is moving towards being more tech-focused and tech-reliant. So, such skills will help you to get into any industry and will help you secure your future.

SELF LEARNING PORTALS:

In context to above technologies – there are multiple benchmark courses are available. Anyone can definitely surf and start learning accordingly.

  1. Udemy
  2. Unacademy
  3. Byjus
  4. Coursera
  5. Edureka
  6. LinkedIn Learning (Formerly Lynda)
  7. Upgrad
Figure 2: Reasons for Adopting AI by Businesses

SOME INTERESTING FACTS TO BE CONSIDERED:

  • The Indian information technology industry had over 4 million employed personnel during financial year 2020.
  • The IT sector contributes up to 8% to the GDP of India
  • India makes 18% of IT spending Globally
  • IT spending projected to grow by 6 percent by end of 2021
  • According to Han Digital, new-age IT skills will contribute over 25% of the overall hiring.
  • AI will make 58 million new positions in the coming two years (World Economic Forum).
  • TCS has hired around 8,000 candidates virtually and plans to hire around 15,000 more because of the growing demand for IT (Mint).
  • Ed-tech companies like Jigsaw Academy, Coursera, and LinkedIn Learning see a three-fold increase in their Business Analytics and IT courses, with many employees up-skilling for growth.

TECH INDUSTRY OVERVIEW

The technology sector is evolving at a rapid pace. According to Udemy’s 2020 Workplace Learning Trends Report, around 40 million users have shown interest in learning about courses related to AI, Data Science, and Python. AI alone has 1.4 million job openings with 119% increase in AI-related jobs (Indeed). Sectors like healthcare, manufacturing, pharmaceutical, service, retail will require AI to make their work easy.

According to Gartner, Machine Learning is one of the hot topics in AI, which helped create 2.3 million jobs in the pandemic. Data Trained has witnessed high demand in Al and ML-related courses due to its futuristic approach. Data interpretation is equally important as data collection. This is where Data Science comes into picture. 700,000 openings are there to be seen in Data Science (IBM).

Figure 4: Market Overview

USE CASE: SKILLS IN PRACTICE

Ex. 1: Zomato and Swiggy

We know that they are big food tech giant companies, reaping benefits using AI and ML in their apps. Both Apps generate a million orders each day in over 300 cities. In an interview with Yourstory, Mr. Dale Vaz, tech-head of Swiggy, stated that the App is moving towards being an AI product to redress peoples’ grievances faster with personalized perks.

Ex. 2: Delhivery Delivery Platform

Tech specialists anticipate that organizations will be searching for IT experts. The skills to integrate AI with business through automation, robotization will be high in demand. For individuals who are new to the tech world, low-code stages offer a great deal of chances.

 

CONCLUSION

A huge percentage of the tech workforce comprises of workers between the age 40-60. It is equally important for them to upgrade their skill in congruence with the digital transformation that is taking place across the globe. Learning platforms such as Coursera, LinkedIn Learning, and more help in making channelization of these skills towards an aging population possible with visual knowledge impartation methodologies that smoothen retention at older ages.

With continuous changing work environments and the demand for new skills, it is estimated that by 2030, Automation will prevail in every industry and that is why there’s a need and demand for such IT skills. Recruiters will be extensively looking for people with the mentioned IT skills, as these skills are set to create around a million jobs in this decade. Acquiring and mastering such skills will gear you up well for the digital transformation that’s set to take place in the near future.

VM consultants is one such place where we specialise in IT recruitment. We have been experts in meeting the clients’ requirements and delivering accurate performance pertaining to the IT domain. We are ready to solve each problem with ease.

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comment 5


  1. Bharathi

    Informative and timely piece. Well written and easy to follow 🙂

    Reply
  2. anirudh swaney

    Insightful read!

    Reply

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