AI/ML and Analytics Lead Job Demand in India's Tech Sector: Nasscom-Indeed 2024 Report

AI/ML and Analytics Continue to Lead Job Demand: Nasscom-Indeed 2024 Report

35 percent of current and future employees are open to gig work, up from previous years. With the increasing adoption of AI across organisational functions, expertise in AI/ML (artificial intelligence and machine learning) and data analytics continue to dominate as the most in-demand tech job roles in India, according to a report by Indeed and IT industry body Nasscom. Also Read: Gen AI and Quantum Computing to Generate 10 Lakh Jobs by 2030: Report The top five in-demand job roles include Data Scientist/Analyst, AI/ML Expert, Cybersecurity Specialist, Cloud Architect/Engineer, and DevOps Engineer, as highlighted in the fourth edition of the Future of Work 2024 report, released on Friday. The report notes a 1.6x increase in demand for AI-led job families, with cybersecurity surpassing Cloud to become the second-most sought-after domain. While the future of work remains predominantly hybrid, the report indicates that the return to office is gaining momentum, with the average time spent in the office increasing by 1.2 times. Key drivers of this shift include the need for stronger cultural connections, enhanced cross-team collaboration, improved employee engagement, increased leadership interactions, role-specific or customer-driven requirements, and a more immersive learning experience. To explore the future of Jobs, Workforce, and Workplace, Indeed and Nasscom launched the fourth edition of Future of Work report - Balancing Priorities in an AI-driven World at Indeed's event, FutureWorks 2024. The report highlights key trends in the job market, the role of AI in recruitment, and updates to simplify, accelerate, and humanise hiring processes. Also Read: AI-Driven Transformation to Add 33.9 Million Jobs to India's Workforce by 2028: Report "Advancements in technologies, particularly AI and ML, are driving a transformation in the job market, reshaping the skills required -- spanning both technical expertise and analytical or soft skills," said Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at Nasscom, according to media reports. "With nearly 70 percent of respondents eager to apply new skills in real-world settings, the report underscores the need for organisations to bridge the gap between current readiness and future demands," said Sashi Kumar, Head of Sales, Indeed India. "By combining human creativity with AI-driven innovation, businesses can lead confidently in this new era of work." The adoption of generative AI (GenAI) tools has increased over the past year, with the technology evolving from the proof-of-concept stage to widespread commercial applications. A significant portion of the workforce now actively uses GenAI for diverse applications, including coding, programming, content creation, and beyond. The current and future workforce (students) particularly leverage AI/GenAI for learning and development, enhancing general knowledge, improving communication skills, seeking mentorship and advice, and exploring AI's vast capabilities, according to the report. Regarding GenAI usage, around 55 percent of the current and future workforce are frequent users of GenAI. ChatGPT and CoPilot are the most commonly used tools. Gen Z and millennials continue to represent the majority of the tech workforce. Additionally, there has been a noticeable increase in willingness among both the current and future workforce to embrace the gig model. "Approximately 35 percent of each group expressed openness to gig opportunities, a significant rise from 23 percent for the current workforce and 28 percent for the future workforce in the previous year," according to the report. Also Read: Most Indian CFOs See GenAI Enhancing Tax Efficiency, EY Survey HR processes are increasingly becoming tech-enabled across the value chain. AI, analytics, and cloud technologies form the "holy trinity" leading this shift, according to the report. Companies are leveraging AI in various aspects of the recruitment and hiring process, such as automating CV screening to identify relevant candidates, generating gender-neutral job descriptions, enhancing knowledge-sharing and learning initiatives, and streamlining candidate evaluation.

AI/ML and analytics most in-demand roles: Nasscom and Indeed report

AI/ML and data analytics specialists remain the most sought-after tech roles in India, followed by cybersecurity, cloud, and DevOps engineers, according to a new report. The report also highlights a growing trend of returning to the office, while gig work is gaining popularity, especially among Gen Z and millennials. AI is increasingly being used in recruitment processes.Expertise in AI/ML (artificial intelligence and machine learning) and data analytics continue to dominate the list of in-demand tech roles in India, according to a report by Indeed and IT industry body Nasscom. Finishing the list of the top-five tech roles are cybersecurity specialist, cloud architect/engineer, and DevOps engineer, according to The 'Future of Work 2024' report, which was released on Friday. AI/ML and analytics continue to be the most sought after roles, while cybersecurity has overtaken Cloud to become the second-most sought-after domain, according to the report. Although hybrid working is here to stay, as per the report's findings, the return to office is gaining momentum, with the average time spent in the office increasing by 1.2 times. This is the fourth edition of the Future of Work report- Balancing Priorities in an AI-driven World. It highlights key trends in the job market, the role of AI in recruitment, and updates to simplify, accelerate and humanise hiring processes. Both the current and future workforce regard AI/GenAI proficiency, creativity, communication and leadership skills as critical to success, according to the report. "Advancements in technologies, particularly AI and ML, are driving a transformation in the job market, reshaping the skills required -- spanning both technical expertise and analytical or soft skills," said Sangeeta Gupta, senior vice president and chief strategy officer at National Association of Software and Service Companies (Nasscom). The future workforce (students) is particularly using generative AI (GenAI) for learning and development, enhancing general knowledge, improving communication skills, seeking mentorship and advice, and exploring AI's vast capabilities. Notably, 70% of respondents from the current workforce expressed confidence in their readiness for the evolving job roles of the future. "With nearly 70% of respondents eager to apply new skills in real-world settings, the report underscores the need for organisations to bridge the gap between current readiness and future demands," said Sashi Kumar, head of sales, Indeed India. "By combining human creativity with AI-driven innovation, businesses can lead confidently in this new era of work." Return to office is led by key drivers including the need for stronger cultural connections, enhanced cross-team collaboration, improved employee engagement, increased leadership interactions, role-specific or customer-driven requirements, and a more immersive learning experience. Both the current and future workforce are increasingly embracing the gig model. "Approximately 35% of each group expressed openness to gig opportunities, a significant rise from 23% for the current workforce and 28% for the future workforce in the previous year," according to the report. Key skills driving demand for gig roles in the technology sector include GenAI and automation, information and cyber security, digital transformation, solution architecture, and data engineering, said the report. Gen Z and millennials continue to represent the majority of the tech workforce. Companies are also leveraging AI in various aspects of the recruitment and hiring process, such as automating CV screening to identify top candidates, generating gender-neutral job descriptions, enhancing knowledge sharing and learning initiatives, and streamlining candidate evaluation.

Indeed-Nasscom Unveil Future of Work 2024 Report: Navigating Jobs, Workforce, and Workplace in an AI-Driven World

The world of work is undergoing a rapid transformation, driven by technological advancements, changing employee expectations, and macroeconomic uncertainties. To explore the future of Jobs, Workforce, and Workplace, Indeed and Nasscom launched the fourth edition of their Future of Work report - Balancing Priorities in an AI-driven World at Indeed's flagship event, FutureWorks 2024. The report highlights key trends in the job market, the role of AI in recruitment, and updates to simplify, accelerate, and humanize hiring processes. Future of work: AI, Analytics, and Cloud are the "holy trinity" Increasing integration of technology into workstreams is fundamentally reshaping traditional job roles. With the increasing adoption of AI across organizational functions, AI/ML and Analytics continue to dominate as the most in-demand job family, while Cybersecurity has overtaken Cloud to become the second-most sought-after domain. The top five in-demand job roles include Data Scientist/Analyst, AI/ML Expert, Cybersecurity Specialist, Cloud Architect/Engineer, and DevOps Engineer. In response, HR leaders emphasize core technical skills, a strong learning mindset, and analytical thinking and problem-solving abilities as the primary selection criteria. Meanwhile, both the current and future workforce regard AI/GenAI proficiency, creativity, communication, and leadership skills as critical to success. The adoption of GenAI tools has seen a dramatic increase over the past year, evolving from proof-of-concept experiments to widespread commercial applications. A large portion of the workforce now actively leverages GenAI for diverse applications, including coding, programming, content creation, and beyond. The future workforce (students) is particularly using GenAI for Learning & Development, enhancing general knowledge, improving communication skills, seeking mentorship and advice, and exploring AI's vast capabilities. Notably, 70% of respondents from the current workforce express confidence in their readiness for the evolving job roles of the future. This optimism is largely fuelled by regular skilling and upskilling initiatives, driven both by mandated organizational programs and proactive self-learning efforts, underscoring a collective commitment to adapt to the rapidly changing job landscape. Furthermore, as organizations become increasingly data-driven, AI, Analytics, and Cloud have emerged as the "holy trinity" driving this transformation. In tandem with this shift, HR functions are becoming progressively tech-enabled across the value chain. Companies are leveraging AI in various aspects of the recruitment and hiring process, such as automating CV screening to identify top candidates, generating gender-neutral job descriptions, enhancing knowledge sharing and learning initiatives, and streamlining candidate evaluation. Workplace evolution: Hybrid models and the gig economy on the rise While the future of work remains predominantly hybrid, the return to office is gaining momentum, with the average time spent in the office increasing by 1.2x. Key drivers of this shift include the need for stronger cultural connections, enhanced cross-team collaboration, improved employee engagement, increased leadership interactions, role-specific or customer-driven requirements, and a more immersive learning experience. Further, there has been a noticeable increase in willingness among both the current and future workforce to embrace the gig model. Approximately 35% of each group expressed openness to gig opportunities, a significant rise from 23% for the current workforce and 28% for the future workforce in the previous year. Key skills driving demand for gig roles in the technology sector include Generative AI & Automation, Information and Cyber Security, Digital Transformation, Solution Architecture, and Data Engineering. Gen Z and Millennials continue to represent the majority of the tech workforce. Across generations, factors such as brand value and opportunities for learning and growth remain key considerations when selecting an employer. Additionally, job satisfaction, job security, work-life balance, and career growth consistently rank among the top priorities for both generations when deciding to stay with an organization. Sashi Kumar, Head of Sales, Indeed India said, "Indeed and Nasscom come together, to bring unmatched insights and clarity to critical conversations about the future of work. This partnership highlights the importance of upskilling, embracing hybrid models, and adapting to automation. With nearly 70% of respondents eager to apply new skills in real-world settings, the report underscores the need for organizations to bridge the gap between current readiness and future demands. By combining human creativity with AI-driven innovation, businesses can lead confidently in this new era of work." Sangeeta Gupta, Senior Vice President and Chief Strategy Officer at Nasscom, said, "The future of work, workforce, and workplace continues to evolve as organizations embrace a 'people-centric' approach, addressing the needs of both current employees and the future workforce. Advancements in technologies, particularly AI and ML, are driving a transformation in the job market, reshaping the skills required -- spanning both technical expertise and analytical or soft skills. Technology companies must implement policies and processes that are not only aligned with the changing dynamics but also adaptable to the continuous evolution of the workforce landscape." About Nasscom Nasscom represents the voice of over USD 250bn technology industry in India with the vision to establish the nation as the world's leading technology ecosystem. Boasting a diverse and influential community of over 3000 member companies our network spans the entire spectrum of the industry from DeepTech and AI start ups to multinationals and from products to services, Global Capability Centres to Engineering firms. Guided by our vision, our strategic imperatives are to accelerate skilling at scale for future-ready talent, strengthen the innovation quotient across industry verticals, create new market opportunities - both international and domestic, drive policy advocacy to advance innovation and ease of doing business, and build the industry narrative with a focus on Trust, and innovation. And, in everything we do, we will continue to champion the need for diversity and equal opportunity. For more details visit our website https://nasscom.in/ or write to us at: [email protected] About Indeed More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world (Comscore, Total Visits, March 2024). With over 580 million job seeker Profiles, people in more than 60 countries across 28 languages come to Indeed to search for jobs, post resumes, and research companies. Over 3.5 million employers use Indeed to find and hire new employees. Indeed is a subsidiary of Recruit Holdings, a global leader in HR technology and business solutions that is simplifying hiring and transforming the world of work.