NEW DELHI: As global demand for data analytics rises, companies are increasingly seeking skilled professionals in this area. India stands out as a global hub, with nearly a quarter of its job postings focused on this expertise.
India leads with a share of 17.4% of its job postings seeking data analytics skills for the Jan-July period this year, the latest data from Cornerstone’s Global State of the Skills Economy Report 2024 said.
Over the past five years, the share of data analytics job postings has grown by 52%, highlighting the critical role data plays in shaping business strategies, it adds.
The US follows with 8.8% of its job postings focused on data analytics.
The emphasis on data analytics is closely linked to advancements in artificial intelligence (AI), which has seen a 65% increase in demand for AI roles over the past five years. The report indicates that countries like India and Germany are leading in relative demand for AI skills, even outpacing the United States. India leads with 4.1% of its job postings focused on AI/ML, which reflects the country’s growing stature in the global AI landscape and highlights a strong interest in developing AI/ML capabilities. Germany and Japan follow India with a share of 2.5% and 2.2% respectively.
Further, the explosive growth of Generative AI (GenAI), a subset of AI, stands out. There was a 411% surge in GenAI-related job postings, particularly following the launch of ChatGPT-4 in early 2023, highlighting the growing demand for GenAI expertise, it notes. “This rapid adoption urgently requires a workforce skilled in AI applications.
Companies must hire new talent and invest in reskilling their existing workforce to fully capitalize on these advancements’’, it adds.
Interestingly, despite the technological advancements over the last five years, the persistent need for human skills remains strong, and in fact surpassed the demand for digital skills, across all regions.
“As Gen AI begins to redefine roles across industries, it will be human skills of leadership, creativity, and ethical judgment that will turn technological potential and innovation into real-world success’’, Nishchae Suri, managing director of Cornerstone India told TOI.
For the report, SkyHive, part of Cornerstone, leveraged its Knowledge Graph covering over 150 countries, including job postings, resumes and government data.
Companies can maintain a competitive edge by actively addressing skill gaps and promoting continuous learning, ultimately boosting productivity and profits, the report adds.