Indian Tech Industry to Add 3 Million Jobs in IoT, AI, ML By 2023: ISF

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There is a sharp increase in hiring by present and new global in-house centres owing to tech innovation activities in the country

There will be an addition of three million new jobs in the Indian technology industry over the next five years, according to a latest report by the Indian Staffing Federation (ISF).

These new jobs would be in the digital technology fields such as Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), analytics, data science, big data, augmented reality (AR) and blockchain, it mentions.

The size of tech-based jobs in India would reach seven million by the year 2023, the report adds.

This latest tech employment estimates brings a huge relief to lakhs of software engineering students and young techies in view of the talks of shift towards jobless growth due to automation that can replace humans with robots.

“This report is based on ISF’s continuous interaction with a vast range of companies. This includes Indian tech firms, MNCs, global capability centres of hundreds of international firms, enterprises across segments including e-com, BFSI, pharma and telecom,” Rituparna Chakraborty President, ISF, told The Hindu.

Sharp increase in hiring

She further mentioned that till date India has 1,300 captive units. Out of that, 400 new units will be added by the end of 2019.

This change is due to a sharp increase in hiring by present and new global in-house centres owing to tech innovation activities in the country for their worldwide markets, she said.

Chakraborty said that the industry had been going through the winds of change in technology. Currently, a robot, having infinite memory analytical capability, is linked to the cloud. Its impact on the business productivity would be massive.

Around 63 per cent of CEOs believe that AI would have a bigger impact as compared to the Internet. On the other hand, 39 per cent of them said that they had already started AI-related initiatives in their companies, she added.

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