The Indian IT industry is expected to invest majorly on automation and artificial intelligence in the New Year. The IT sector in the country is prepared to expand and is set to add 250,000 new jobs in 2019. Automation, AI and robotics will be the key areas while big data analytics, machine learning and AI development are expected to be the highest-paid areas.
While 2018 went into focusing on leveraging new technologies, innovating, and entering into partnerships to develop the right skills, 2019 will witness many transformations in the direction of automation.
With the implementation of the General Data Protection Regulation (GDPR) in the European Union in May 2018—for strengthening and protection of data of individuals in the region— that imposes heavy fines for non-compliance by companies, opportunities have grown for countries, such as India.
India has been able to build expertise and capabilities, develop new consulting businesses, establish a market differentiator and develop into a major hub of competitiveness for clients in the European Union.
In 2018, Tata Consultancy Services crossed the $100 billion market valuation mark. Infosys has also revealed its three-year transformation strategy starting with phase one, which will concentrate on the stability of the organisation, phase two will help the firm gain momentum and then finally, phase three will focus on accelerating growth. The Company plans to recruit 10,000 locals in the US.
While AI may end up making certain jobs redundant in the short run, it has high potential to create new ones in the long run. With more than 1,200 new advanced technology startups getting added to the ecosystem in 2018, it is not surprising that data analytics is said to be the largest contributor.