Nearly half of the companies in India may increase hiring in 2019: Report
- More than half of the companies in India are planning to increase hiring in the coming year, Press Trust of India (PTI) reported, citing Shanthi Naresh
- While the use of
artificial intelligencehas certainly lead to a displacement of certain roles, but on a net basis, it has added jobs to different sectors, Mustafa Faizani, Mercer Zone leader for India, Middle East, and Africa reportedly said.
- Nearly 64% of the Indian employers are expecting better recruitment numbers in 2019, said a recent report by UNDP.
While 3% of companies in India may decrease the number of employees said Press Trust of India (PTI) reported citing Shanthi Naresh, India business leader at Mercer.
In terms of job losses, while the use of artificial intelligence may have led to displacement of certain jobs but the technology will lead to additional jobs in different sectors on a net basis, according to Mustafa Faizani, Mercer Zone leader for India, Middle East, and Africa.
However, according to Faizani, re-employing people displaced by AI by providing them with a new set of skills will remain a struggle for the new economy, Faizani warned.
AI has been used by financial services companies, for example, for credit approvals and for predicting default rates, making the process faster and more accurate. It is also useful in detecting money laundering and the illegal movement of money and goods across the global financial sector.
Companies in different sectors including software, engineering, automotive, travel, and hospitality will likely witness a considerable upswing in their hiring numbers next year, the report noted.
Nearly 64% of employers in India are expecting a positive trend in hiring whereas 20% of employers believe that they will hire a similar number of people as last year. There is a small proportion of employers who are expecting a
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