Technology has become crucial in several aspects of life, may it be communication, online learning, remote working, or sometimes daily requirements as well. When put together, all of these interactions are a treasure trove for data for companies to guide their business strategies by implementing several innovative advanced tech applications.
These technological capabilities and the emergence of new industries have caused the shift in the demand for skilled human labor. Although India has effectively paved its way into the first wave of IT demand effectively, the rapid pace of technology change implies that the industry will perpetually work towards reskilling its human resources to counter the shortage of skills.
Browse through the list of the top 5 tech skills in which fresh graduates and young professionals can commence a successful career in the respective technology today.
The scope of artificial intelligence (AI) has nurtured leaps and bounds in the past few years, and companies across the sectors are seeking to capitalize on various applications of AI. AI is revolutionizing the functional, operational, and strategic landscape of multiple businesses. The tremendous rise of AI companies and the automation of jobs have ignited the requirements for an active and thriving AI talent ecosystem.
As per the findings by NASSCOM, the demand for AI professionals would be around 800,000 by 2021, which was 510,000 in 2018. However, at the current rate, it is estimated to have about 570,000 AI professionals in 2021, leading to a massive shortage of skills.
IBM India, Accenture, Nvidia Corporation, Amazon, Hewlett-Packard, 24/7 Customer, EY, Genpact, Capgemini, and eClerx Services emerged as the top 10 companies that have contributed to the demand for AI professionals in the country, offering a median salary of Rs. 14.7 lakh per annum.
Data Science and Analytics
The phenomenal growth of data volumes and analytical complexity has caused the increasing adoption of in-database analytical tools in the past decade. Corporations are consuming this data to gain customer insights and build networking, and drive their significant business decisions by analyzing the data. In spite of the slump in the job market, the enthusiasm and optimism around India’s data science and analytics functions continue to remain outstanding.
A study conducted by us says that around 93,500 data science jobs were vacant in India in the fall of August 2020. Sectors like e-commerce, edtech, BFSI, and logistics are still hiring fresh and top-rated talents for booming job profiles, such as data scientist, decision science manager, business analyst, analytics specialist, analytics manager, and operations analytics manager.
These positions are strengthened amongst the most promising jobs in the upcoming future and offer one of the highest median salaries, which ranges between Rs. 13-15 lakh per annum globally.
Cloud computing has been the most revolutionary technology, which has gained significant strength since the 2010s. Since multiple companies are migrating to the cloud from their traditional administrations, owing to the pandemic, cloud computing jobs are growing at a tremendous pace.
Some recent reports reckon that India is estimated to create more than 1 million jobs in cloud computing by 2022, as multiple companies are looking to migrate their operations to the cloud infrastructure. There is a high demand for critical job roles, including cloud application developer, cloud automation engineer, cloud network engineer, and cloud security manager.
The salary survey implies that cloud computing professionals in India can earn anywhere from Rs. 4 lakh per annum to Rs. 50 lakh per annum based on their experience and skills.
Since the first virus attack in 1989, until today, cyber security has emerged as a board room-level concern. Amid the COVID 19 pandemic, the risk of data breaches, leaks, and cybercrimes has increased, leading to the dreadful requirement for skilled cyber security professionals day by day.
The New York Times citing a Cybersecurity Ventures research, has predicted that the demand for cyber security jobs will grow manifold, resulting in 3.5 million unfilled positions by 2021. Global in-house centers (GICs) and other leading corporations, such as Deloitte, Amazon, Walmart, KPMG, Paytm, Accenture, EY, PwC, etc., are hiring professionals for multiple roles, like security engineers, security analysts, and pen testers with a median salary hike of 15-20 percent.
Therefore, it is safe to say that cyber security is likely to witness a steady demand. Grasping these skills will lead to productive results regarding job opportunities.
Blockchain was first introduced as a technical backbone concept of digital currency. This technology is now witnessing significant demand across multiple sectors, such as banking, healthcare, insurance, logistics, and public administration.
Although India is still at the evolving stage in exploring blockchain technology, it holds massive potential for blockchain applications. Global spending on blockchain technology is expected to rise from 1.5 billion in 2018 to an estimated 19 billion by 2024.
Organizations from multiple industries are boosting their efforts to create value for their business, and thereby igniting the demand for in-demand job roles, such as blockchain developer, blockchain software engineer, and blockchain system architect. Blockchain technology has become a line of business for corporate tycoons like IBM, Oracle, Microsoft, Amazon, JPMorgan Chase, American Express, and many more.
A blockchain developer in India commands a median base salary package that ranges from INR 3 lakh to INR 12 lakh per annum.
0 Source: GreatLearning Blog