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The Digital Transformation Landscape
According to a report published by IDC and Microsoft, approximately 60% of India’s GDP will come from digital products or services. By 2021, digital transformation is expected to add an estimated $154B to India’s economy. Apart from ISV’s, Indian enterprises themselves have realized the huge potential of using digital to transform the way they do business. They are increasingly adopting tools like Artificial Intelligence (AI), data analytics, and cloud computing to harness the power of intelligent decision making.
Why Indian Technology Professionals Upskill
With this backdrop, it is not much of a surprise that Indian technology professionals are keen to upgrade their skills in the digital transformation space. Be it learning the new or unlearning the old, they are keen to add to their repertoire of existing skills to cash in on this economic opportunity. Some of the main reasons that techies are looking at data analytics, AI, and cloud computing are:
Easy availability of AI and machine learning (ML) courses and online training modules that could be taken in their free time.
‘Hot’ projects to work on after upskilling.
Promotions, rewards, and recognition.
Better salary choices.
The fear of job skill obsolescence.
Hottest Areas of Upskilling
The choice of Indian techies is clear. Data analytics, AI, and cloud computing are the favourite areas to upgrade their skills in. Organizations are now demanding highly skilled tech workers, as the focus in these companies shift towards digital transformation. Big data is being used extensively and people who have skills in these areas are in high demand. 2018 continued the trend of adoption of big data technologies, pushing them to become more data driven.
Companies are now moving from prototypes and pilot projects to mainstream implementation of AI. Machine Language and NLP are gaining traction as businesses strive to get a competitive edge. Businesses are looking to find the right mix of people and machine or “digital labor” to optimize their core strengths. Robotic automation, process mining, and machine based intelligent business rules require techies proficient in AI technologies.
There is tremendous scope for growth in disruptive industries like autonomous driving vehicles, drones, Smart Utility Grids, large scale retailing, pharmaceuticals and drug research, and of course social marketing and advertising. The approximate salary of an ML scientist is more than ₹30L per year.
The explosion in data generated on a daily basis is now well documented. Each swipe on a Smartphone has an underlying context for marketers and advertisers. Every response from an Internet of Things (IoT) device connected to the Internet needs to be captured. Edge computing technology and extremely cheap storage prices have led to large swathes of data being collected. Thus, companies are now looking to derive useful information from this raw data to help make more informed decisions.
Predictive analytics, identification of trends and patterns, customer insights, and predictive equipment maintenance are just a few areas in the realm of Data Analytics which companies are exploring.
The on-demand availability of computing power and storage has paved the way for faster, efficient, and cheaper means for companies to invest in and develop new technologies. Cloud incumbents like Amazon Web Services, Microsoft Azure, and Google Cloud offer extremely low-priced entry points for even small and medium sized companies to have access to the latest technology.
According to a Global CIO survey conducted by Deloitte, CIO’s spent 22% of their IT budget on cloud services in 2018, which is expected to double in the next three years. Thus, companies are constantly on the lookout for techies with good cloud computing skills. The average salary of a cloud architect in India is upwards of INR 27L.
Due to the dynamic nature of the technology industry, techies need to keep themselves abreast of the latest and greatest. Upskilling one’s capabilities is the best way to move forward professionally. Given the current scenario, it makes sense to upskill oneself in Data analytics, cloud, or AI to ensure a brighter tomorrow.