IT jobs are going to take a dip by 20-25% in coming three years. The reason is obvious
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With IT industry moving towards artificial intelligence (AI) and machine learning, the employee consumption is decreasing day by day. According to industry body Nasscom, while the industry grew at 8.6%, jobs grew only by 5% in the fiscal year 2016-17.
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Executives said that while the situation is being touted as all gloom and doom, there are a variety of new skills such as data scientists which are required and reskilling of people at all levels will be the key focus area in the coming years.
However, David Autor, an economist at the Massachusetts Institute of Technology says that despite the worrying trends, it has been noted in the past that technology has created more jobs than it destroys. That is because of the way automation works in practice.
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