Experts say the rise in demand for AI talent cannot be met by fresh hiring alone.
Bhavesh Goswami, Founder and CEO of training setup CloudThat, says the pace of AI acceleration means companies have to stay competitive. “It becomes almost impossible for organisations to continuously selectively hire people. Hence, organisations are now looking to upskill their existing employees. Hired engineers, IT professionals are now being facilitated to upskill to be a gen AI, AI or machine language (ML) engineer.”
Organisations are investing in comprehensive training programmes and partnerships with educational institutions to bridge the skills gap as they do not see fresh hiring as a solution.
Roles related to AI and machine learning saw a 74% annual growth, says Krishna Kumar, Founder and CEO, Learnbay. “This trend underscores the growing need for professionals who are not only versed in AI technologies but also possess the skills to apply them innovatively in various domains,” says Kumar.
There has been a 50% increase in corporate-sponsored AI education programmers over the past year, he says. The CEO of Learnbay sees this as an opportunity for organisations to future-proof their workforce and foster a culture of innovation and agility. CloudThat’s Goswami says CTOs are engaging in upskilling initiatives on Microsoft’s gen AI capabilities. “Using gen AI like a copilot can lead to a 15–20% increase in the number of new products or features developed, a 10–15% reduction in the number of bugs found in production, a 5–10% increase in customer retention and loyalty, and a 10–15% reduction in time-to-market for new products or features. Hence, upskilling of employees has become imperative.”Companies are choosing corporate training partners that specialise in niche technologies to arm up their resources and make them deployable on the most competitive and advanced gen AI projects. Leaders see the upskilling as a necessity to stay relevant, to surpass competition and to reinvent the company concerned.
As this technology will keep on evolving, companies have to keep investing in learning. They have to have long-term partnerships with AI training institutes.
Kumar says leaders should cultivate an innovative culture, adapt AI practices to ensure data privacy and bias mitigation, and maintain a scalable and flexible AI infrastructure. Staying informed about AI advancements is crucial for informed decision-making, exploring new opportunities and ensuring organisations remain future-ready, he adds.
At the same time, leaders should also be aware of issues around ethics, privacy and fair practices.
Gopichand Katragadda, President of the Institution of Engineering and Technology, says it is crucial to implement robust frameworks to ensure ethical and secure application of AI. “While choosing enterprise-level AI solutions, prioritise those that have strong data governance and privacy protocols. The key is to view generative AI not just as a technological tool but as a strategic asset that can fundamentally enhance and differentiate your offerings in a rapidly evolving market,” he adds.