Impact of AI on Job Opportunities for Fresh Graduates in India
The Changing Landscape of Job Opportunities
New Delhi: After obtaining a college degree, many young individuals aspire to secure a good job. However, the job market has become increasingly challenging. A significant factor contributing to this difficulty is the rise of artificial intelligence (AI). The integration of AI is particularly prominent in sectors like technology and finance, putting immense pressure on fresh graduates and complicating their job search.
Is AI Reducing Job Opportunities?
In the past, when new employees joined a company, they were often tasked with checking documents, processing loans, generating bills, managing accounts, and performing basic coding tasks. Over time, they would learn and prepare for greater responsibilities. However, AI tools can now accomplish many of these tasks in a fraction of the time, leading to a decrease in hiring fresh graduates for these roles, thus creating significant challenges for them.
Impact on Recruitment at TCS and Infosys
In the IT sector, which is crucial for the economy and employment, around 6 million people are employed. Major global companies in cities like Bengaluru, Hyderabad, and Pune have historically provided job opportunities for youth. However, companies are now exercising greater caution in their hiring processes.
Reports indicate that in the first nine months of the current financial year, leading IT firms in the country have hired fewer new employees compared to previous years. For instance, Infosys has terminated some trainee contracts, while TCS has planned to cut approximately 12,000 jobs globally, raising concerns among young job seekers in the IT sector.
Automation Predictions for 2030
According to various reports, by 2030, around 30% of total working hours in India could be automated. This suggests that many tasks will be performed by machines and AI rather than humans. The impact of this trend is not limited to the IT sector; it is also transforming fields such as sales, marketing, finance, customer support, and supply chain management.
However, this does not imply that all jobs will disappear. Companies will still require employees who can understand and effectively utilize new technologies.
Challenges of Experience for Fresh Graduates
A significant issue arising from this situation is the challenge fresh graduates face regarding experience. Today, companies prioritize candidates with knowledge in AI, cloud computing, cybersecurity, and machine learning. Yet, recent graduates need jobs to gain experience, which is increasingly difficult due to AI's prevalence. Meanwhile, companies continue to demand experience, making it insufficient for young people to rely solely on their degrees. They must also develop practical skills alongside their academic qualifications.
What Should Young People Do Now?
To enhance their job prospects, young individuals should learn to use AI tools. Additionally, gaining experience through internships, live projects, and online training can be beneficial.
