Generative AI: Shaping the Future of Indian IT and the Academia's Response in 2024

Generative AI: The Engine of Growth for Indian IT in 2024 and Academia's Readiness

It is the Year of Generative Artificial Intelligence. Gen.AI is being embraced by the industry with great vigour. It is also adding to increased pipeline for IT Companies. IT Companies are getting all their employees trained in Gen.AI since they are expecting huge orders as entire global economy embraces Gen.AI. TCS will have 500000 Gen.AI trained Workforce, the largest in the world. The Industry captains have already called for the entire industry to be re-skilled. The Top 5 Companies have increased new revenue coming in from Gen.AI. Accenture earned $450 Mn from Gen.AI.

As the entire Industry buzzs around Gen.AI, is the Academia keeping up with industry’s expectations and exponentially surging demand for Gen.AI Skilled Professionals? Some companies have replaced entire teams with Gen.AI Tools. Many large corporations are automating routine tasks forcing workers to upskill to survive.

Indian IT Industry is counting on Gen.AI since it boosts productivity, allows customizations and fosters data driven decision-making. Indian IT Industry is counting on Global Enterprise Gen.AI Adoption which will drive work for Indian IT Industry. There is huge surge for Gen.AI Trained Professionals in the Industry. Even roles such as Chief AI Officer have emerged.

The Indian Talent Rush:

Indian IT Companies and startups are hiring Gen.AI trained Individuals fueling demand for trained personnel. The Indian Government too is supporting talent growth and vibrant startup eco-system. India is set to achieve leadership position in Talented Pools for Gen.AI Revolution. Apart from market leaders like Infosys, TCS, Wipro, Venture funded startups like sarvam.ai, flipkart, etc., are also hiring for Gen.AI.

Is Academia Up to the Task?

With the booming demand for Gen.AI expertise, academia is at the vanguard:

• Curriculum Revamps: It's imperative for academic programs to integrate state-of-the-art Gen.AI knowledge.
• Real-World Application: Partnerships with industry are crucial for providing students with practical Gen.AI experience.
• Ethical Training: Embedding ethical considerations within the tech curriculum is vital for creating responsible professionals.
• Interdisciplinary Learning: A broad educational approach is necessary to grasp Gen.AI's wide-ranging impacts.
• Multi Channel Learning: Academia should be open to Online Training for continuous education.
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Forward-Looking Perspectives

As we enter 2024, the collaboration between academia and industry is more crucial than ever. Industry leaders are pushing Gen.AI's capabilities, and academia needs to produce not just tech-savvy but also ethically informed and versatile professionals.

Academic institutions' readiness to meet this demand will be critical in maintaining Gen.AI's momentum and surpassing industry expectations for 2024. The journey ahead is one of collective effort, with academia and industry working in tandem to shape the technological future and its societal ramifications.