Gen AI, Quantum Computing set to create over 10 lakh jobs by 2030, says report

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Emerging technologies such as Generative AI (Gen AI) and Quantum Computing are set to create over 10 lakh jobs by 2030, according to a report released by staffing firm Quess Corp on November 27.

"While demand for traditional programming languages persists, there has been a significant movement towards Cybersecurity, DevOps (development operations), and analytics, indicating a dynamic and evolving information technology (IT) landscape," the report said while painting a cautiously optimistic picture within the country's IT sector.

Cybersecurity and DevOps lead demand with 58 percent and 25 percent growth in the quarter ended September 30 (Q2FY25), respectively.

The report also brought to light that development skills dominated tech hiring with over 40 percent share, while demand for Artificial Intelligence/Machine Learning (AI/ML) positions saw 30 percent sequential growth.

Meanwhile, Global Capability Centres (GCCs) have emerged as the powerhouse of tech hiring in India during Q2FY25. While Java is being utilised to develop Electronic Health records in healthcare, BFSI companies are leveraging DevOps practices to enhance their digital banking platforms.

When asked whether GCCs are open to hiring freshers than laterals, which is against the norm, Kapil Joshi, CEO of Quess IT Staffing, said he has observed that GCCs are not shying away from building talent supply through fresher intake, because of demand and supply gap. "We have seen the inclination of hire and deploy model also. It also allows them (GCCs) to have a diverse workforce where you have Gen Z and millennial workforce under them," Joshi told Moneycontrol.

In Q2FY25, technology talent demand saw a distinct trend across various IT services firms leading by 37 percent, followed by Hi-Tech (11 percent), Consulting (11 percent), Manufacturing (9 percent), and BFSI (8 percent) firms.

The office market is seeing continued growth due to both domestic and international companies seeking to expand their operations in the industry. There has been a surge in talent demand across various cities due to the expansion of GCCs in India.

These companies focus on hiring skilled professionals from fields like engineering, IT, finance, and analytics. This advancement has led to companies looking to hire from the promising talent pools of Tier-2 and Tier-3 cities.

Nonetheless, Bengaluru unsurprisingly leads tech hiring with nearly 44 percent share, followed by Hyderabad at 13 percent.