How AI is Making Indians Richer Than Ever Before

It seems like many companies worldwide are really interested in finding skilled individuals from India who are good at Artificial Intelligence (AI). These organizations, mainly the ones focused on AI and Machine Learning (ML), are trying to find gifted folks that are skilled in AI in India. They’re even ready to offer a significant amount of money for these individuals.

India already had a bunch of talented folks in AI and ML even before technologies like ChatGPT became popular.

However, now that OpenAI has brought a lot of attention to “AI,” people, especially software engineers, are working on improving their skills and updating their resumes to secure jobs in companies that deal with AI or in companies planning to use AI in their work.

India has a large number of engineers, but what about AI Engineers?

A recent document by using Nasscom-Zinnov suggests that there are 47 lakh individuals currently employed in AI-associated roles in India, and there could be a need for approximately 2.13 lakh extra inside the coming years. This is important because the current tech workforce in India consists of 47 lakh employees, but this number is expected to decrease for various reasons.

At present, there’s a shortage of AI experts worldwide. Companies are inclined to offer big salaries to absolutely everyone who can paintings with AI, no matter whether or not they studied it in school or not.

Companies are paying considerable amounts for AI professionals

Take Netflix, for example. They these days wanted to rent an AI specialist to help them in making use of AI to generate greater revenue. They were prepared to pay over $900,000 along with other perks for this position.

And it’s not just Netflix – Amazon, Google, and some financial firms on Wall Street are also prepared to pay substantial sums.

Here’s an interesting fact: From July 2022 to July 2023, the number of job listings for positions related to AI increased by 50%, according to Insider, a job search platform.

Interest in AI is widespread

Alongside the rise in job opportunities, there has been a 12,300% surge in people searching for these types of jobs during the same period. This indicates a strong curiosity about these prospects.

Analytics India Magazine also discovered that since the release of ChatGPT, there has been a 21-fold increase in job listings on LinkedIn that mention GPT or ChatGPT. Not only that, but people all over the world are more interested in adding AI skills to their LinkedIn profiles.

A study conducted by LinkedIn analyzed 25 countries and 121 AI skills. The study revealed some intriguing trends.

In 2022, the top five growing AI-related skills on user profiles were all related to generative AI. This means skills like question-answering grew by 332%, along with classification and recommender systems. This indicates that generative AI is becoming increasingly crucial in the job market.