From data scientist to business analyst; new age professions are redefining the rules
According to the India Skills Report 2021, a changing economy requires a pool of skilled talent with hands-on experience in various emerging technologies to shape the economy of tomorrow
Over the past two years, the role of technology in our lives has become more prominent and important. Whether it is working from home or working from home, via robots among others, the list is endless. This means that unlike a decade when young people had limited options when it came to career choices, today this list is comprehensive, with emerging technologies such as artificial intelligence (AI), machine learning, Internet of Things (IoT), big data among others. “The scope of AI and related courses is immense. People from all walks of life, be it finance, marketing, agriculture, can opt for AI as a profession as it is an application-based program,” said Neetin Desai , Dean – SDSOS, NMIMS University, Mumbai, adding that however, these fields are still new in India and unfamiliar to students and parents.
India has seen a 45% increase in the rate of AI adoption, and around 94% of Indian companies believe that AI will help generate more opportunities, according to a PwC report titled “AI: A opportunity in the midst of a crisis, December 2020”. To meet this growing demand, educational institutions such as IIT, IIIT Delhi and SRM Institute of Science and Technology are now offering degrees as well as certification courses online. For example, IIIT-Delhi launched its Artificial Intelligence Center in 2016; it has Btech and Mtech programs in AI.
Another such emerging field is data science. According to the National Association of Software and Services Companies (NASSCOM), India’s data science and analytics industry will reach $15 billion by 2025 or be on par with the global data market. 32%, which is worth $2 billion. The main reason for this increase is the daily increase in the volume of data generated in all sectors. According to the prediction of the World Economic Forum, data analysts and scientists will emerge as a prominent role in the world. “Students must be at the height of new fields such as data science, IoT, which will take the world further. These programs are for progressive and futuristic people who know the importance of being industry ready. After studying these subjects, students can enter any sector from agriculture to technology,” said Lovi Raj Gupta, Pro-Vice-Chancellor of Lovely Professional University. Some of the emerging professions in the field of data science include big data engineer, data engineer, data architect, machine learning engineer, data scientist among others.
Next is the sector called IoT other Internet-of-things which combines many industries and thus offers the opportunity to develop many skills of the new era. “It is a combination of smart electronic devices such as sensors, electronic equipment, camera, internet, cloud servers, software application, among others. Wearable IoT devices such as smart watches and wristbands that display our heartbeat and blood pressure are examples of IoT.IoT is used in various industrial sectors.According to Fortune Business Insights, the global IoT market is expected to grow from $381.30 billion in 2021 to 1,854 .76 billion in 2028, growing at a CAGR of 25.4%,” explained Andrew Thangaraj, Professor and Coordinator, NPTEL-IIT Madras. of certified learners in the three areas.
And that’s just the tip of the iceberg. According to the India Skills 2020 report, the median age of the Indian population was 26.8 years. While 45.9% of young Indians are employed while 85.92% are looking for internships to start their careers. Emerging technologies are believed to help broaden the scope of new era professions.
Financial Express is now on Telegram. Click here to join our channel and stay up to date with the latest Biz news and updates.