A recent study by Bain & Company stated that the Indian AI (artificial intelligence) sector will have 2.3 million job openings by 2027. This report indicates that rapid AI  adoption in the country will create more employment opportunities than eliminate them. However, a significant imbalance in AI talent (1.2 million) highlights significant opportunities for aspiring professionals for reskilling and upskilling.

As several companies are adopting AI at a great pace, they are facing a significant shortage of professionals having expertise in this technology. 44% of executives have reported that the lack of AI-skilled professionals is slowing down AI implementation in the company.

Sarah Elk, Americas head of AI, Insights, and Solutions at Bain & Company said, “AI is at the forefront of corporate transformation, but without the right talent, businesses will struggle to move from ambition to implementation”.

Since 2019, there has been a 21% surge in demand for AI-related skills and the pay scale of the professionals has grown 11% annually. Despite the rising demand for AI-skilled professionals, the talent gap is widening which is hindering several companies AI progress.

Saikat Banerjee, Partner and leader of Bain & Company’s AI, Insights, and Solutions practice in India, said, “India has a unique opportunity to position itself as a global AI talent hub. However, by 2027, the job openings in AI are expected to be 1.5-2 times of the talent availability.”

“The challenge–and opportunity– lies in reskilling and upskilling a significant portion of the existing talent base on emerging technology tools and skillsets”, he added.

Source: https://timesofindia.indiatimes.com/india/2-3-million-job-openings-by-2027-in-indias-ai-sector-bain-company/articleshow/118855782.cms