SUMMARY
AI professionals doubled from 40K in 2018 to 72K in 2019
From $230 Mn in 2018, the AI industry’s revenue stood at $415 Mn this year
Average experience of the AI workforce in India stands at 7.2 years
Artificial intelligence (AI) is not only changing the way how businesses used to function but is also helping humans to get better jobs. According to a recent study by edtech platform Great Learning, the number of AI professionals in India was nearly doubled in 2019.
According to the study, the total number of AI professionals doubled from 40K in 2018 to 72K in 2019. Besides the increase in the number of employees, the study also highlighted that the number of companies leveraging AI in their operations grew from 100 in 2018 to 3000 this year.
The study cited that the advancement in technology and the adoption of AI in business intelligence created these vacancies. Moreover, the research also said that AI-based optimisation of the company’s processes, usage of AI in data management, and even increased budgetary allocations from the government towards increasing the use of this technology propelled its growth.
However, the study also highlighted that there is still a huge demand for workforce talented enough to work with AI. According to the study, there’s a shortage of around 2500 professionals in India.
According to Great Learning, professionals working in the AI and machine learning (ML) industry irrespective of their experiences and across sectors participated in this survey.
Burgeoning AI Industry In India
According to the estimates of this study, the revenue of the AI industry was also doubled in 2019. From $230 Mn in 2018, the AI industry’s revenue stood at $415 Mn this year.
Revealing other facts associated with the AI industry, the study highlighted that the average experience of the AI workforce in India stands at 7.2 years with an average annual package of INR 14.7 Lakhs. Further, the study also estimates that only 29% of AI professionals in India have over 10 years of experience.
Additionally, the study also stated that the number of professionals joining the AI industry has also witnessed a spike in 2019. From 3700 freshers joining this industry in 2018, this year saw 6,000 newcomers AI-related workforce.
Among the cities which saw the most number of professionals joining the AI industry, Bengaluru topped the charts by offering 23K jobs in 2019. Bengaluru was closely followed by Delhi and Mumbai offering 17K and 9K jobs respectively.
Cofounder of Great Learning Hari Krishnan Nair said that the company expects to witness a large number of experienced professionals transitioning to careers in AI in 2020 as well.
Recently, the Indian government has also launched Programme for Reskilling or Upskilling of IT Manpower for Employability (PRIME) to reskill the workforce in emerging technologies and job roles.
