Artificial Intelligence (AI) is here to stay for sure. This is why we ask everyone to acquire digital skills to succeed in the new digital age.
It has been reported that India shall made its AI workforce double in 2019. Still, there were vacancies. There are a large number of vacancies across sectors due to a talent gap, according to a study.
The fact was that the number of AI professionals in India grew to 72,000 in 2019 from 40,000 last year, as the number of companies working on AI projects tripled to 3,000 this year from 1,000 in 2018. Further, ReadHow artificial intelligence in mobile app development now drives new possibilities.
There was large scale adoption of business intelligence, many AI-based optimisation of enterprise processes, improved data management across organisations, and bigger budgetary allocations from the government. All this aided the growth, the report stated.
The study also found that close to 2,500 positions related to AI continued to remain vacant this year, due to lack of talent, despite the growth in the number of AI professionals.
The has been based on a survey among Indian professionals in AI and machine learning industry with varying years of experience, ranging from freshers to mid- and senior-level executives, across sectors.
According to the study, Indian AI industry's revenue increased in size to $415 million (about Rs 2,950 crore) in 2019 from $230 million (about Rs 1,600 crore) in 2018.It also stated that the average work experience of AI professionals in India is 7.2 years, while 29 percent of AI professionals have more than 10 years of work experience.
Bengaluru has emerged as the most popular destination for AI professionals, having created over 23,000 jobs as against 13,000 last year, the study said.It was followed by Delhi (17,000), Mumbai (9,000), Hyderabad (8,000), Pune (7,200), and Chennai (5,800).
As far as remuneration is concerned, the median salary package for AI professionals is Rs 14.7 lakh across all experience level and skill sets, the study stated. AI professionals in Mumbai get the highest salary package at almost Rs 17 lakh per annum, followed by Delhi-NCR at Rs 15.6 lakh, it said, adding that AI professionals in Chennai get the lowest remuneration at Rs 10.8 lakh.Almost 39 percent of AI professionals in India are employed with large-sized companies, 29 percent with mid-sized organisations, and 32 percent with startups, it said, adding that women participation continues to remain low.
What then does all this mean for us? What it means is we must gift ourselves with the knowledge of AI before it is too late.
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