BENGALURU: As the investments in Artificial Intelligence (AI) continues to increase, the demand for AI talent in India is also expected to grow at 15% CAGR till 2027.
According to nasscom and BCG report which was launched on Tuesday on the sidelines of the Nasscom Technology & Leadership Forum 2024, India’s AI market growing at CAGR 25-35% is projected reach about $17 billion by 2027 with AI/ML capabilities, including GenAI, emerging as the top category of IT spend expected to be made by IT buyers in 2023.
The report said the growth is fuelled by multiple factors that include increasing enterprise tech spending, the country’s growing AI talent base and a significant increase in AI investments. The technology industry in India is already seeing more than 15% growth in AI/ML jobs over the past 12 months with positions such as AI engineers growing at 67% YoY.
Firms have already invested heavily in upskilling and reskilling their workforce in AI and related technologies, with some organisations allocating $1 billion over the next 3 years dedicated to upskilling, it added.