AI-related job openings are increasing as firms face talent shortage: Report
The Hindu
A new report by Bain & Company has revealed that while AI job openings are growing, there’s a shortage of talent.
A new report by Bain & Company shows that AI-related job openings are increasing as companies face shortage of AI talent. The report warns that as AI takes centre stage, lack of qualified people in AI positions will make AI adoption and implementation tough.
Job postings around AI have increased by 21% annually since 2019 and salaries are growing 11% annually over the same period.
In India, job openings in AI are expected to be 1.5-2 times of the talent availability by 2027 suggesting an urgent need to upskill and train employees. In the U.S., one in two AI jobs could be left unfilled with demand for AI-related jobs reaching up to more than 1.3 million over the next couple of years. On the other hand, supply is predicted to be less than 645,000.
“The AI talent shortage is a significant challenge, but not invincible. Addressing it requires a fundamental shift in how businesses attract, develop, and retain AI talent. Companies need to move beyond traditional hiring approaches, prioritize continuous upskilling, and foster an innovation-driven ecosystem,” said Saikat Banerjee, Partner and leader in Bain & Company’s AI, Insights, and Solutions practice in India.
The study also found that nearly half or 44% of execs have said the lack of in-house AI expertise is a key barrier to implementing GenAI.
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