The Modi government's emphasis on upskilling and reskilling the workforce through initiatives such as the Skill India Mission and the National Education Policy has played a pivotal role in aligning the workforce with the demands of an AI-driven economy.
AI job market: With machine learning and datasets emerging as key roles, how PM Modi's government is spearheading AI-driven growth in digital services. Image source: Canva/PTI
The World Economic Forum said in its Future of Jobs report that India's job market is expected to see 22% turnover over the next five years, with AI, machine learning and data fields set to be the main new roles.
“AI for All” is a flagship program of the government led by Prime Minister Modi
Prime Minister Modi's government, under its flagship program 'AI for All', is laying the foundation for inclusive AI adoption to ensure the benefits of this transformative technology reach every corner of the country. Setting up AI research centres, collaborating with leading technology companies and creating a favourable regulatory environment has propelled India to the forefront of AI innovation.
The AI job market is experiencing a commendable boom, with a notable rise in job opportunities across various sectors, including healthcare, finance, and e-commerce. Delphin Varghese, Co-founder and Chief Business Officer, AdCounty Media, reiterates that machine learning is transforming our daily lives in numerous ways, revolutionizing various industries and significantly impacting the way we live, work, and interact with the world. Algorithms deployed by machine learning (ML) provide personalized recommendations based on comprehensive analysis of past behavior and preferences, making online experiences like watching movies, listening to music, and shopping more engaging.
“There are countless other sectors where artificial intelligence (AI) and machine learning play a key role. For example, sectors such as automotive, finance, entertainment, content filtering, e-commerce, etc. are leveraging the power of machine learning to make informed decisions and accelerate development,” Varghese added.
Over 70% of companies use AI and machine learning
According to the 2023 Rackspace Technology Report based on AI and machine learning research, 72% of companies are leveraging AI and machine learning in their IT and business strategies, and 69% say AI/ML is an essential technology. An astounding 67% of organizations that have incorporated AI and machine learning into their work reported improved quality of deliverables. 60% of companies reported that the adoption of AI/ML has helped them perfectly predict business performance and industry trends, and 53% highlighted reduced risk after integrating AI into their business processes.
“AI can also help marketers gain valuable insights into their target audience and minimize churn rates. It helps in creating more effective customer touchpoints through data-driven insights, resulting in improved customer experience and increased brand loyalty,” Varghese pointed out.
The Modi government's emphasis on upskilling and reskilling the workforce through initiatives such as the Skill India Mission and the National Education Policy has played a pivotal role in aligning India's workforce with the demands of an AI-driven economy.
The government is also building language datasets through Bhashini, an AI-driven language translation system, to create open-source datasets in local languages to build AI tools and in return, deliver more services digitally.The Modi-led government's focus on leveraging AI in digital services has not only positioned India as a global AI powerhouse, but has also opened up countless opportunities for the country's workforce.
