29/12/2017
One out of 10 IT jobs will be replaced by these new roles by 2022.
Some professionals have to pay a big price for the adoption of AI, automation, and robotics. It is predicted nearly one in 10 jobs in India will disappear by 2022.
The report published by Ernst & Young (EY) talks about the impact of changing technologies on the jobs. A report titled ‘a December report’ by the management consulting firm describes the future challenges in front of the Indian IT industry. A combination of evolving technology, demographic changes, and globalization will be responsible for the loss of jobs.
The major contributor to the Indian IT industry is IT-business process management (BPM) companies. As many as 20-to-35% of the current employees in the sector will risk their jobs from being wiped out by 2022. The report is based on the survey of 130 business leaders, academics, representatives of different industries.
The scope of IT-BPM industry will continue to decline in the next five years. The Indian IT industry currently has a full-time workforce of 3.8 million people and an indirect workforce of 13 million. The report by EY reads, “It has a significant share of exports, which is expected to be affected as companies in advanced markets begin to deploy automation technologies in their processes, affecting jobs in the sector.”
While the IT-BPM industry will not record the negative growth, it is expected to grow only by 3 to 3.5% by 2022. The historical growth rate of the same industry is over 6%. The organizations believe that the current workforce needs to undergo re-skilling to retain their jobs or apply for the new opportunities.
The situation for the jobseekers is not that negative either. The report suggests that over 4.5 million new jobs will be created by 2022. However, these new roles will mostly be in areas like machine learning, artificial intelligence (AI), robotics, and the internet of things (IoT). Nine out of 10 employers expect the candidates to possess skills in big data, cloud computing, automation, and robotics.
According to the EY’s report, the IT-BPM industry will have new job roles like computer vision engineer, AI research scientist, cloud architect, Android/iOS app developer and language processing specialist. While the BFSI industry will create new roles like credit analyst, robot programmer, cyber security expert, blockchain architect and process modeler expert.
- Rajat Kabade
