A recent report by SkyHive and Cornerstone, titled “Global State of the Skills Economy,” reveals that India has experienced the highest demand for jobs in AI (artificial intelligence) and ML (machine learning) during the first half of 2024. The job demand in India reached 4.1%, surpassing other countries such as Germany (2.5%), Japan (2.2%), and the US (2.1%).
The report shows a significant rise in India for AI and ML job postings, which have increased by 65% since 2019. Additionally, job postings related to generative AI (GenAI) have skyrocketed by 411%. However, despite the increasing need for digital skills, the demand for soft skills like leadership, communication, and emotional intelligence continues to be twice as high globally.
AR and VR Job Growth
The report also highlights that job postings in Augmented Reality (AR) and Virtual Reality (VR) have surged by 154% over the last five years. This growth suggests that these technologies are moving beyond entertainment and are being adopted in various industries for training simulations, remote collaboration, and enhancing customer experiences.
The demand for GenAI skills is expanding beyond the tech sector. While it is most prevalent in software development and IT consulting, there is increasing interest in industries such as financial services, healthcare, pharmaceuticals, and banking.
Importance of Soft Skills
The need for human skills continues to dominate in regions like North America and Europe, where the demand for soft skills is 2.4 times and 2.9 times higher than digital skills, respectively. The most sought-after human skills include communication, collaboration, and problem-solving.
The demand for remote and flexible work options has increased by 39%. Countries leading in this trend include Australia (22.8%), Germany (21%), and New Zealand (20.3%). India ranks at 6.3%, while countries like France and Italy have the lowest percentages.
Insights on Workforce Trends
Mike Bollinger, Global VP at Cornerstone, emphasizes the importance of staying updated on changing skills and workplace trends to remain competitive. The report highlights a gap in workforce readiness, as skills are evolving faster than organizations can adapt. Bledi Taska, Head of Analytics at SkyHive, points out that while predicting the future is challenging, combining historical trends with real-time data offers valuable insights into the evolving workforce landscape.
