AI HIRING
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
Zerodha to end zero-brokerage model; Unacademy lays off 250 employees
Online stock broker Zerodha will likely discontinue its zero-brokerage structure due to new Sebi rules. More on this in today’s ETtech Top 5.
Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
AI: the supercharger for India’s MSMEs
Artificial intelligence (AI) is not only reshaping India’s landscape but also fostering economic growth through innovative tech solutions. According to Stanford University’s annual AI Index report, India saw the fifth highest investments last year in startups offering AI-based products and services.
AI deals between Microsoft and OpenAI, Google and Samsung, in EU crosshairs
European Commission assesses tech partnerships for merger control compliance, focusing on potential market concentration effects. Regulators worldwide scrutinize Big Tech's dominance in AI, raising concerns about access for smaller developers. Vestager leads investigations into exclusive clauses and talent acquisitions, aiming to prevent monopolistic practices and promote fair competition.
Job Market Outlook: AI integration set to boost employment in financial and real estate sectors
Manpower Group's latest Net Employment Outlook for June to September 2024 showcases positive trends in India's employment sector, ranking sixth globally. Despite some decline, the Financial Services and Real Estate sectors are driving growth, with AI integration expected to further boost employment opportunities. Various sectors and regions display differing hiring intents, reflecting cautious optimism amidst ongoing global challenges.
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Infosys working on 225 GenAI programs for clients; enterprise AI will take years to unfold: Nilekani
At Infosys' 43rd annual general meeting, cofounder and chairman Nandan Nilekani talked of the nascent stage of the Generative AI revolution. He also said consumer AI will see rapid adoption but enterprise AI will take several years to mature and have a widespread impact.
Not AI, IT hiring not picking up because of global slowdown in IT spend: Ramani Dathi, Teamlease Services
Ramani Dathi says there is no major uptick as far as demand for IT pros is concerned. There are a few set of clients, especially the GCCs and to some extent, who are able to maintain the current run rate of revenues and headcounts for Teamlease, but to show a massive growth or a double-digit growth, the IT services hiring has to be back on track.
Nearly nine in 10 recruiters use AI for sourcing candidates: Survey
India Inc. is grappling with a shortage of workers skilled in AI, despite over half of recruiters being prepared for AI adoption. Lack of knowledge or training is cited as a major barrier, emphasizing the need for educational initiatives to bridge the skills gap. A survey from Talent500 indicates a strong inclination among companies to incorporate AI-driven tools into their recruitment processes.
Indian CEOs hold AI governance crucial for AI adoption, innovation: IBM study
The global study of 3,000 CEOs across 30 countries and 26 industries highlighted the significance of AI governance for Indian business leaders. The study shows, 7 out of 10 Indian CEOs surveyed said tat trusted AI is only possible when you have effective AI governance in organisations. The study revealed that 49% of Indian CEO said they are hiring for Gen AI roles that did not exist till last year.
Hiring activity registers 11% surge: Foundit Insights Tracker
A recent report by foundit reveals a significant increase in hiring index, with the production and manufacturing sector showing remarkable growth. This upswing is attributed to factors like government support in PLI and infrastructure development.
Companies cautious on short-term hiring, but overall outlook stays upbeat
Employers in India are showing caution in short-term hiring for the July-September quarter, with a net employment outlook of 30%, six percentage points lower than the current quarter and the same period last year. While 48% of employers plan to hire more people, 18% expect a decrease in hiring or have no plans to hire. The most optimistic sectors are finance and real estate, healthcare and life sciences, and IT, while communication services and transport, logistics, and automotive are less optimistic.
ChatGPT maker OpenAI hires Nextdoor's Sarah Friar as CFO
OpenAI said on Monday it has hired Sarah Friar, most recently the CEO of Nextdoor, as its first chief financial officer. The artificial intelligence firm has also appointed Kevin Weil, who has previously worked at Twitter and Instagram, as chief product officer.
What will a robot make of your resume? The bias problem with using AI in job recruitment
Establishing guidelines, ethical standards, and promoting transparency in AI decision-making processes are essential for fair recruitment practices. Collaboration between HR professionals and AI developers can lead to more inclusive and equitable hiring processes.
White collar hiring improving as demand from Oil & Gas, Banking, FMCG sectors rises: Report
White collar hiring in major sectors like Oil and Gas, Banking, and FMCG showed steady improvement, with a 6% increase in May compared to April, driven by Healthcare and Travel and Hospitality. However, overall white-collar hiring was down by 2 per cent year-on-year, with declines in IT, BPO, and Education sectors. Smaller cities outperformed major metropolitan areas, with strong demand for senior professionals contributing to a healthy growth in opportunities.
Using AI to draft a cover letter? Don’t depend on tech too much
Artificial intelligence (AI) is beneficial for job applications, but over-reliance on it for drafting cover letters can lack personalization. Sashi Kumar from Indeed India emphasizes the importance of a human touch in cover letters to convey authenticity and storytelling for job seekers.
Infosys recruits 76% lesser college graduates in FY24
IT major Infosys hired 11,900 college graduates in FY24. This is against over 50,000 graduates hired a year ago, as per data from its annual reports.
Salesforce leads the charge in hiring for new AI-driven roles
Salesforce is recruiting for positions like prompt engineers, AI trainers, and ethical AI architects. The demand for new skills is rising in the job market, driven by AI opportunities.
The rise of AI in recruitment process: How companies are using artificial intelligence for hiring
Companies use AI tools like GenAI bots for candidate sourcing, resume screening, and skills assessment. HR executives say AI makes hiring quicker and more efficient. Genpact launched IMatch, an AI-based job-matching engine, resulting in improved productivity and faster hiring.
NIIT Q4 Results: Firm reports profit of Rs 11.16 crore vs YoY loss
Skill and talent development company NIIT on Friday reported a consolidated net profit (attributable to owners of the parent company) of Rs 11.16 crore for the quarter ended March 31, 2024. The company had posted a loss of Rs 9.36 crore in the year-ago period, according to a regulatory filing.
JPMorgan says every new hire will get training for AI
Incoming asset-and wealth-management staff to get instruction; AI has saved the division time, helped grow revenue, says Erdoes
Senior-level IT services hiring in 2024 focuses on new-age skills
IT services and global market conditions impact senior-level hiring with pay hikes expected. Roles in finance, consulting, and program management are in demand. Companies hiring for roles like chief AI officer, delivery head-AI, and CFOs. Skills in cloud computing, machine learning, and data engineering are sought after. Gartner forecasts $5 trillion IT spending in 2024, with India's IT spending growing.
South India, led by Bengaluru and Chennai, spearhead India's tech talent surge
Among functional skills, development (35%) held the highest share of tech hiring demand: Quess Corp Annual Digital Skills Report FY24.
Indian students fail to land internships in US amid hire-local push
Indian students in the US, including those from Ivy League universities, face internship challenges amid job slowdown. Competition intensifies with scarcity of entry-level job opportunities, impacting job market competitiveness.
IT companies Cognizant, Capgemini hired 1.5 lakh less hands in 2023
Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.
Trend of IT services companies not hiring or reducing headcount will continue for now: Rituparna Chakraborty, TeamLease
Rituparna Chakraborty discusses the evolving job market influenced by AI and automation, emphasizing the need for updated skill sets to align with technological advancements. The narrative explores the changing dynamics of the IT sector and the importance of embracing new skill requirements. The TeamLease co-founder says that this trend where IT services companies are either not hiring or are reducing headcount is a fact of life now and is likely to continue for a few quarters or into the future.
Ciel HR’s Aditya Narayan Mishra on IT hiring and salary trends
Aditya Narayan Mishra highlights the impact of AI, ML, cloud, and full stack development on pay packages. Global competency centers pay freshers more for problem-solving skills. Market shifts towards newer technologies, impacting attrition rates and skill demand. Further, Mishra says five years ago, the percentage of people on contract staff were less than 10%, but today it is closer to 20%.
India leads the world in AI’s skill penetration; lags on investments
India is number one in the world in terms of relative AI skill penetration, and is in the top four globally when it comes to relative AI hiring rate.
OpenAI begins India hiring in bid to shape regulation early
OpenAI's Pragya Misra will lead Indian government relations amidst Google competition. Altman advocates AI integration in services, emphasizing the need for regulations to prevent harm from advancing technology.
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