“Automation, Artificial Intelligence (AI) and robotics are expected to reshape workplace culture and skill requirement, with Big Data Analytics, Machine Learning and AI development turning out to be the highest-paid areas”.
The Indian IT industry has plans afoot for big investments in Automation and AI in 2019. The industry body Nasscom has predicted that exports will grow to 7-9% for 2018-19, but domestic revenue will increase to 10-12% making 2019 transformative, with overseas funds accounting for the lion’s share so far. Protectionist stances are observed in all key markets, while governments bringing in more stringent regulations around procurement of work visas. As a counter, Indian IT companies increase their presence abroad by employing locals. Rising protectionism is irritating and anti-immigration rhetoric aims to discriminate against Indian companies and creates a level-playing field for business delivery. One of the major developments in 2018 was the implementation of GDPR (General Data Protection Regulation) to enhance and protect data of individuals in the area. This helped India to build expertise and capabilities, create new lines of advisory and consulting firms, develop a market differentiator and become a source of competitiveness for customers in the European Union. India is evolving its own data protection rules, which will deal with consent, identification of personal and sensitive data, possible exceptions, restrictions on the storage of personal data and individual rights. This year, Tata Consultancy Services (TCS) was one of the great landmarks for the Indian IT sector, crossing the $100-billion market valuation mark. A TeamLease survey showed that the Indian IT sector would add around 250,000 new jobs in 2019. There was a massive untapped workforce in non-IT sectors such as healthcare, manufacturing or banking. According to Nasscom, over 1,200 new technological innovations were added to the ecosystem in 2018, with data analytics being the largest partner.