India's prominence in the AI field is evident as it ranks fourth globally, with a significant surge in job postings for GenAI roles on various platforms. The Indian workforce, despite its substantial size of 47 lakh tech professionals, is struggling to meet the demand for AI experts. The gap is predicted to worsen in the coming years, leading to a shift of 22% in India's job landscape due to emerging AI roles. Job postings for GenAI positions have increased by 50% from July 2022 to July 2023, with a staggering 12,300% rise in related job searches.
Bangalore offers the highest salaries for ML experts, while Chennai lags behind with salaries 5% below the national average. Companies like HyperVerge, Razorthink, and IQVIA are offering attractive compensation packages, reaching up to several lakhs for machine learning engineer roles. Data analysts with programming skills are enjoying the highest salaries among data scientists. AI researchers earn between INR 3.0 to 35.0 lakh, with an average of INR 9.0 lakh. Other roles like deep learning engineers and AI consultants are also witnessing a surge in demand.
Globally, top companies such as Netflix, Amazon, Google, and Goldman Sachs are willing to offer substantial compensation to AI/ML experts well-versed in frameworks and language models. The demand for AI skills has been compared to the demand for NFL quarterbacks, highlighting the industry's perceived value.
The popularity of generative AI is evident, with job listings and LinkedIn profiles referencing GPT and ChatGPT experiencing significant growth. Microsoft's 2023 Work Trend Index identifies analytical judgment, flexibility, and emotional intelligence as essential skills for industry leaders. LinkedIn has introduced AI-focused features, including generating recruiter messages, job descriptions, and user profiles.
In light of the growing demand, candidates seeking AI roles must acquire core programming languages, frameworks, and abstract concept skills to keep up with the evolving industry trends.
