Tech firms going through market correction: IIIT-Bangalore director

Many companies and international markets have now shifted their focus towards securing their borders and investing heavily in defences.
Image used for representation
Image used for representation

BENGALURU: The notion that Artificial Intelligence (AL) and Machine Learning (ML) are going to affect university and college placements is misleading, said Debabarta Das, Director, International Institute of Information Technology-Bangalore (IIIT-B) on Sunday.

“At least in the next two to three years, this is not going to happen. The slump witnessed in the country and globally currently can be called a ‘market correction’,” he said on the sidelines of the 24th convocation of the institute. As many as 343 students received their degrees under various programs.

“Two years back, during Covid-19, a lot of companies over-hired professionals. This is not due to AI/ML, we have a ground-level understanding as we are in constant talk with companies. The impact will be seen only in the next two to three years. The second major reason is the fall in investments due to the Ukraine-Russia and Israel-Gaza war.

Many companies and international markets have now shifted their focus towards securing their borders and investing heavily in defences. The demand for IT services and engineering has taken a hit,” explained Das. He added that if the war stops this year, the demand for engineering jobs will flourish again early next year.  

Despite the grim employment scenario, over 90% of graduating students from IIIT-B have been placed in companies such as Amazon, Qualcomm, CISCO, Intel and Mercedez Bens. The highest package was Rs 40 lakh annually, bagged by 23 students. This year, 57 students received a Rs 30-lakh package, and 140 students secured an annual placement package of above Rs 20 lakh, said IIIT-B in a statement. 

With the growing demand for niche courses in technology, IIIT-B has introduced a Bachelor’s in Technology (BTech) program with the All India Council for Technical Education (AICTE) nod for 210 seats. 

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