Companies hunt for AI talent despite slowdown in tech hiring

Machine learning operations, natural language processing, Java, Python, and development operations are the top five skills that recruiters are looking for in candidates for AI and related jobs.

India continues to experience growing demand for artificial intelligence talent from domestic and international companies. Even as recruitment for some technology roles slows, SAP Labs India, Samsung’s HARMAN Digital Transformation Solutions, Tredence and Compunnel are bulk-hiring AI talent.

Tredence, a US data science and AI engineering company, and Compunnel, an IT consulting and e-learning solutions firm, plan to onboard over 500 people each over the next 12 months.

HARMAN plans to hire more than 200 people by next year. Software firm SAP Labs India is looking to double its AI talent base in the country by 2024. Its research and development centre in India hosts over 15,000 people, MD Sindhu Gangadharan told Moneycontrol. However, the focus remains on niche skills.

Moneycontrol reported earlier that workforce members skilled in AI in India have increased 14-fold in June as compared to January 2016, according to a LinkedIn survey. This growth puts India among the top five countries with increasing AI talent, alongside Singapore, Finland, Ireland, and Canada. In fact, India faces a shortage of AI talent.

India's vast and growing market offers tech companies a significant opportunity to deploy AI-driven solutions. From e-commerce and healthcare to financial services and agriculture, there are many sectors where AI can be applied to address local and global challenges and push revenue growth.

In addition, tech giants have established global delivery centres in India, leveraging the country's AI talent to serve clients worldwide. These centres handle tasks such as AI development, data analysis, and customer support.

Tredence said it closed four substantial deals in 2023, an indication of potential talent expansion in response to evolving needs.

According to Rekha Nair, head of HR at Tredence, recent advancements in large language models and GenAI have broadened the scope of AI applications.

“This has opened up new possibilities and created fresh demand for professionals who can harness the potential of these cutting-edge technologies,” she told Moneycontrol.

Compunnel is witnessing a surge in demand.

“To ensure we deliver top-notch services. We are investing in expanding our team,” said Ravi Changle, director of AI and emerging technologies at Compunnel.

Machine learning operations, natural language processing, Java, Python, and development operations are the top five skills that recruiters are looking for in candidates for AI and related jobs.

Although there is huge demand for these roles, Sekhar Garisa, CEO of foundit, said talent is scarce. “The growing demand for these roles across industries has made hiring a challenge due to the lack of skilled professionals,” he said.

Additionally, the most preferred skills include programming skills, mathematics and statistics, data handling and preprocessing, machine learning algorithms, deep learning, natural language processing and computer vision, data visualisation, and software development practices, according to Dr Jai Ganesh, Chief Product Officer of Digital Transformation Solutions at HARMAN.

A TeamLease Digital report said salaries for freshers in data engineering roles in India go up to Rs 14 lakh a year, and ML engineers at the same level earn up to Rs 10 lakh. Fresher data scientists and business intelligence analysts earn up to Rs 14 lakh, it said. Entry-level database administrators, development operations engineers and data architects earn up to Rs 12 lakh, according to the report.

It said candidates with about eight years of experience in AI-related fields can earn salaries ranging from Rs 25 lakh to Rs 45 lakh per annum.

Compunnel has established compensation structures for various levels of AI talent. While AI talent with less than five years of experience can expect a salary increase of 10-15 percent, mid-level AI talent with 5-10 years of experience qualify for a 15-25 percent hike. AI talent with over 10 years of experience and with strategic insight and leadership qualities can grab a salary increase in the range of 20-30 percent.