Are you an engineer or are you one of the sister domains? If you are then you should definitely take a look on these statics to know the changing technology in this growing world.
In today’s time youngsters from the age group 18-28 send memes like these-
If by chance you are not from any prestigious college like the ones mentioned above, you would know by now how corporate recruiters IT engineers in bulk and that also in kgs. And that too at the minimal cost.
Their is something else also new in market for engineers. We are recently getting news about the 2 lakhs IT job cuts per year and people are blaming it on Trumps presidency.
According to a consultant group McKinsey and company there is a bad news for IT sector people. Nearly half of the workforce would become irrelevant in next 3-4 years.
So who do you think is the culprit behind all these changes? It’s not the human but the machines and the growing technology.
Cloud services, big data, Artificial Intelligence and Internet are changing how we live now and how will we live in the future.
Therefore due to this expansion in technology some particular jobs are decreasing in the IT sector. The danger affects people with old skills and low skill employees. According to a recent survey 57% people are looking for a level up have had 5-10 years of working experience. Also only 11% of Professionals have less than 4 years of experience which is very low.
Now the corporate sector has decided to retain its employees as they can’t fire them. Already their is a lot of positions come up which requires updated knowledge of technology.
Number of jobs created every year:-
Big Data was around $28 billion in 2016 and is now increasing every year by 18%. It is estimated to be around $67 billion market by the end of 2021.
According to Deloitte, IoT market will be $9 Billion by the end of 2020.
The AI market is increasing at the rate of 54% per year and by 2020 it will be equal to $5 Billion.
So start upgrading your skills. Traditional IT jobs like server maintenance and data entry are on a decline and won’t be of any use in the upcoming years.