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NEW DELHI — The growing talent demand for emerging technologies driven by artificial intelligence (AI) and resurgence in contractual hiring in India have mitigated the recent turbulence in the technology ecosystem, experts said on Thursday, ahead of the National Technology Day that falls on May 11.
India's technology industry employed 5.39 million people (as of FY24). However, driven by factors like economic slowdown, automation, restructuring and decreased discretionary spending in the past few quarters, IT companies have experienced a decline in headcount.
"Despite the recent turbulence in the technology ecosystem, the resurgence in contractual hiring and the surge in talent demand for emerging tech roles, both in tech and non-tech companies, heralds a new dawn for the sector," said Sachin Alug, CEO, NLB Services.
According to Rajesh Mani, SVP and Head, Asia Pacific Tech Hubs, Mastercard, with over 40 per cent of the population under age 25, India boasts of a strong demographic dividend.
"This makes it critical to invest in their education and upskilling, so we can inspire the nation’s young minds to become innovators and leaders of tomorrow," he added.
According to the experts, the most sought-after skill sets in the technology staffing domain encompass Google Cloud, data analytics, AI/ML, application development, ERP, networking, GenAI and cybersecurity.
Additionally, there is a nearly 30 per cent average demand for UI/UX designers, data scientists, data analysts, etc.
"As we navigate through the disruptions brought by AI and automation, organisations, educational institutions and governing bodies need to collaborate in tandem to foster opportunities and create a robust pool of skilled talent for the future," said Alug.