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When ChatGPT launched in November 2022, it was being looked upon as something straight out of a Sci-Fi film. The <keyword id="19896272" type="General" weightage="20" keywordseo="generative-AI" source="keywords">generative AI</keyword> chatbot could write, code, compose music and whatnot. While many people started using the AI chatbot everyday and started appreciating it, there were others who were afraid that the chatbot would take away their jobs. And then there were people who believed that knowing how to use <keyword id="20096338" type="General" weightage="20" keywordseo="AI-tools" source="keywords">AI tools</keyword> would be a necessary skill in the future. “AI won’t replace your job but someone using AI tools would” was a popular quote surfacing on LinkedIn at the time AI tools started getting popular. And as per a recent study, this quote holds true. A new study by Gartner says that by 2027, a staggering 80% of engineering professionals may find themselves at risk of <keyword id="20080267" type="General" weightage="20" keywordseo="job-loss" source="keywords">job loss</keyword> if they do not adapt and enhance their skills, particularly in the face of advancing generative AI technologies. Generative AI is changing the way software development and engineering roles are approached at the workplace. This shift poses significant challenges for engineers who have relied on traditional skills and methods. As AI systems become more capable of performing tasks previously done by humans, engineers must recognise the importance of staying current with new tools and methodologies to remain competitive in the job market. According to an Analytics India Mag report, industry experts warn that those who do not actively pursue further education or training may struggle to secure employment. As the demand for <keyword id="23563446" type="General" weightage="20" keywordseo="AI-related-skills" source="keywords">AI-related skills</keyword> rises, professionals who fail to adapt risk being left behind. The pressure to keep pace with technological advancements is not just a trend; it’s becoming a necessity for career survival. To mitigate the risks associated with job displacement, engineers should engage in <keyword id="20186222" type="General" weightage="20" keywordseo="lifelong-learning" source="keywords">lifelong learning</keyword>. Upskilling can take various forms, including online courses, workshops, and certifications focused on AI and machine learning. Many educational institutions and online platforms are responding to this need by offering specialised programmes tailored to the demands of the industry. The call for continuous learning is not just about acquiring new technical skills. It also involves developing soft skills such as critical thinking, problem-solving, and adaptability. These competencies are increasingly valuable in a world where collaboration with AI systems will become the norm.

Study reveals 80% of software engineers must upskill by 2027 to keep their jobs

Mumbai, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s AI market, growing at a compounded annual growth rate (CAGR) of 25-35 per cent is projected to reach <keyword id="19944038" type="General" weightage="20" keywordseo="usd" source="keywords">USD</keyword> 17-billion by 2027, according to a report. This growth is fueled by multiple factors including increasing enterprise tech spending, India's growing AI talent base and a significant increase in AI investments, the report titled "AI Powered Tech Services: A Roadmap for Future Ready Firms; AI &amp; GenAI's Role in Turbocharging the Industry." The <keyword id="19955786" type="General" weightage="20" keywordseo="nasscom" source="keywords">Nasscom</keyword> report in partnership with <keyword id="20058186" type="General" weightage="20" keywordseo="bcg" source="keywords">BCG</keyword> was released on Tuesday at the sidelines of the Nasscom Technology &amp; Leadership Forum 2024 here. Globally, investments in AI have seen 24 per cent CAGR since 2019, with 2023 seeing close to USD 83-billion investment, it said. Majority of investments were made in data analytics, GenAI, and ML algos and platforms, as per the report. Notably, around 93 per cent of the investments made by Indian tech services and made-in-India product players focus on digital content, data analytics and supply chain, according to the report. With increasing enterprise tech spending, technology service providers are developing a wide array of innovative AI-based services and solutions, expanding their offerings beyond traditional IT services, it stated. This includes the development of proprietary AI &amp; GenAI platforms, tools for automation, data analytics solutions, and bespoke AI applications for specific industry verticals such as healthcare, banking &amp; finance, and retail, the report said. According to the report, India has the second highest installed talent base with 420,000 employees working in AI job functions. India also has the highest skills penetration with three times more AI skilled talent than other countries. The country ranks among the top five nations with a 14 times growth in individuals skilled with AI in the last seven years, it said. As the investments in AI continues to increase, the demand for AI talent in India is also expected to grow at 15 per cent CAGR till 2027, the Nasscom-BCG report said, adding the tech industry in India is already seeing more than 15 per cent growth in AI/ML jobs over the past 12 months with positions such as AI engineers growing at 67 per cent year-on-year. Recognizing the importance of human capital in the AI journey, leading firms have invested heavily in upskilling and reskilling their workforce in AI and related technologies, with some organizations allocating USD 1-billion over the next three years dedicated to upskilling. "Indian tech companies, with the advent of Generative AI, are expanding their portfolios beyond traditional IT and business process management to include AI-driven analytics, intelligent automation, and personalized customer interactions," said <keyword id="19956660" type="General" weightage="20" keywordseo="debjani-ghosh" source="keywords">Debjani Ghosh</keyword>, President at Nasscom. These companies are not just adopting AI; they are redefining their service offerings, creating more value for their clients, and setting new industry standards, she noted. Accelerating this journey will require massive scale investment on AI skilling, investments in ethical and secure AI development practices and governance frameworks and a fundamental shift towards a human-centered approach, prioritizing transparency and human oversight, according to Ghosh.

India's AI market to touch $17-billion by 2027: Nasscom-BCG report

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Study reveals 80% of software engineers must upskill by 2027 to keep their jobs

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India's AI market to touch $17-billion by 2027: Nasscom-BCG report

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