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The volume of the Indian workforce that depends on IT and software sector has been consistently going up for the last couple of decades. But the downward spiral is likely to start soon as the AI revolution is catching up very quickly.
Companies have started to become increasingly depend on AI for automation and coding these days and things could take bad turns for the human workforce sooner than later.
In that note, the latest data compiled by Niti Ayog confirms that the Indian software industry could be losing as many as 15 to 20 lakh jobs in the next 5 years.
The current headcount of the Indian IT sector is said to be 7.5 million. This could be going down to 6 million or lower by the year 2031 and experts have been warning about the same. With companies consistently moving towards AI and automation, the human workforce could be in for trouble.
The fact that the Indian workforce could be losing nearly 25% of the headcount in the IT sector in the next five years is as shocking as it may sound.
This would essentially mean that 1 out of 4 IT employees in India could be losing their jobs in the next five years and this is a very serious number. The number can go beyond that if things do not go well.
Tags IT tech
