Category Archives: Business

Jaro to reach out to 100 reputed institutes in India for further growth

Mumbai,10th May 2024 Jaro Education, a pioneering force in the online education sector, has unveiled an ambitious expansion strategy aimed at cementing its position as a leader in the field. The company, founded in 2009 by Dr. Sanjay Salunkhe, has consistently pushed the boundaries of online learning, offering a diverse range of programs in collaboration with esteemed institutions such as IIMs, IITs, and other top-ranked universities.

With a proven track record of success and a net revenue of Rs. 203 crore in FY24, Jaro Education is now poised to elevate its reach and impact even further. Leveraging its innovative online learning platform and expertise in admission-related services, the company aims to forge partnerships with an additional 100 reputed institutes across India.

“Jaro Education has always been at the forefront of transforming the educational landscape in India,” said Dr. Sanjay Salunkhe, CMD of Jaro Education. “Our goal is to make quality education accessible to every individual, regardless of their geographical location or background. By expanding our network of partner institutes, we are committed to offering a wider range of programs and opportunities to learners across the country.”

The expansion plan entails collaborating with renowned universities, management institutes, and technology hubs to offer an extensive array of courses in various disciplines. Jaro Education’s portfolio currently includes 250+ online programs and certification courses, catering to fields such as management, technology, finance, and business analytics.

Furthermore, the company plans to enhance its presence in Tier 2 to Tier 4 cities, tapping into emerging markets and catering to the growing demand for online education. This strategic expansion will not only benefit students by providing access to high-quality programs but also contribute to the overall development of the education sector in India.

“We believe that education is the key to unlocking individual potential and driving societal progress,” added Dr. Salunkhe. “By reaching out to 100 reputed institutes, we aim to democratize access to education and empower learners from all walks of life to pursue their academic and professional aspirations.”

Jaro Education’s commitment to excellence and innovation has earned it recognition as a trailblazer in the online education space. With its ambitious expansion plans, the company is poised to continue its legacy of transforming lives through education.

2024 Gartner® Voice of the Customer Report Named Whatfix a Customers’ Choice for Digital Adoption Platforms

Bangalore, India, 10th May 2024 — Whatfix, the global digital adoption platforms (DAP) leader, has been recognized as a Customers’ Choice in the Gartner report. This distinction placed Whatfix in the top-right section of Peer Insights Quadrant, the only DAP vendor that received this recognition.

According to 52 Gartner Peer Insights reviews, the most in its category, half of Whatfix’s reviews came from companies with $1B+ in annual revenue, reflecting feedback from the world’s largest enterprises, including:

● Global insurance carrier with $30B+ in annual revenue stated, “Whatfix is a great digital platform to integrate with systems new associates are not familiar with. It helps to improve the speed to their proficiency and gives them confidence on the phone with customers.”

● Enterprise bank with $3B+ to $10B in annual revenue said, “Overall, it’s been a great experience with Whatfix. They’ve worked quickly to resolve any questions or requests, and our users have received immense value from the product.”

● A manufacturing company with $1B+ to $3B in annual revenue said, “I have been extremely satisfied since day 1. Whatfix is the best partner I have ever worked with. The level of professionalism, customer orientation, and future focus is on Champions League level.”

Reviewers consistently praised Whatfix with high ratings, spanning across product capabilities (4.6/5), support (4.7/5), sales experience (4.5/5), and Integration & deployment experience (4.5/5). Whatfix is the most reviewed company in its category across global deployment regions, with 56% of reviews originating from North America, 27% from EMEA, and 17% from the Asia Pacific region.

Khadim Batti, CEO and Co-founder of Whatfix said, “We believe these direct reviews from our customers validate that customer delight is core to our operations. With over 50% of our product roadmap driven by customer feedback, our focus on product excellence and innovation sets us apart. Over the past seven years of exponential growth, we’ve launched numerous exclusive initiatives like value engineering, value realization, customer enablement, and regional customer consulting and support in the US, Europe, India, and many more regions to enhance customer business outcomes and ROI on tech investments. Thanks to all our customers for partnering with us on their digital transformation and change management journeys.”

Marisa Garcia, VP of Communications and Product Knowledge at AXS, and Whatfix customer, said, “The biggest benefit that we have had since implementing Whatfix has been an increase in customer satisfaction, and that’s what we were going for, so it’s the best benchmark you can hit.” Garcia continued, “AXS appreciates the dedication and teamwork demonstrated by Whatfix, and their contribution has significantly enhanced the user-friendliness of our application for our customers.”

Over 700 companies trust Whatfix as their digital adoption platform, including 79 Fortune 500 companies such as Aramark, Arrow Electronics, AutoZone, Avnet, Beacon Building Products, Becton Dickinson, Cisco, Genuine Parts Company, Kyndryl, ManpowerGroup, Microsoft, Olam, Schneider Electric, UPS Supply Chain Solutions. Whatfix has achieved a top decile year-on-year Annual Recurring Revenue (ARR) for two consecutive years. It has launched four new products in this timeframe: Whatfix Desktop, Product Analytics, Enterprise Insights, and Mirror. Whatfix combines digital adoption functionality with GenAI to drive the utilization of technology, making technology user-savvy. It has secured five patents from the US Patent Office, with another 12 pending. It boasts exceptional customer satisfaction metrics, including a B2B SaaS net promoter score (NPS) of 47 and a customer satisfaction score (CSAT) average of 99.8%.

The Gartner Peer Insights Voice of the Customer report synthesizes Gartner Peer Insights reviews to create an aggregate client perspective that complements its expert research for technology decision-makers. Whatfix has demonstrated its commitment to exceptional customer experience with a 4.5/5 rating on the Gartner Peer site and being named a Leader in numerous analyst reports, including the IDC MarketScape: Worldwide DAP 2024 Vendor Assessment and the Workplace Employee Experience Management (WEEM) Platforms PEAK Matrix® by the Everest Group in 2023.

New Honeywell Naphtha Technology Set to Boost Energy Efficiency

Mumbai, 10th May  2024  – Honeywell today announced a transformational new naphtha to ethane and propane (NEP) process that will enable regions across the world to improve the efficiency of light olefin production and lower CO2 emissions per metric ton of olefin produced.

Ethane and propane are the ideal feedstocks for producing ethylene and propylene – important petrochemicals used in the production of chemicals, plastics, and fibers. This innovation demonstrates Honeywell’s alignment of its portfolio with three compelling megatrends, including the energy transition.

The NEP technology generates a tunable amount of ethane and propane from naphtha and/or LPG feedstocks. In a typical NEP-based olefin production complex, the ethane will be fed to an ethane steam cracking unit and the propane will be fed to a propane dehydrogenation unit. This approach generates more high-value ethylene and propylene with reduced production of lower-value byproducts compared to a traditional mixed-feed steam cracking unit directly processing the same quantity and composition of the feedstock. This new approach results in Net Cash Margin increases from 15 to 50%1.

An NEP-based olefins complex also reduces CO2 intensity per metric ton of light olefins produced by 5 to 50% versus a traditional mixed-feed steam cracker2. Honeywell’s latest technology expands our portfolio of offerings to help meet the growing demand for efficient petrochemical solutions.

“The petrochemical industry faces strong competition and challenges in obtaining raw materials globally,” said Matt Spalding, vice president and general manager of Honeywell Energy and Sustainability Solutions in MENA. “Our technology helps to enable more efficient production of ethylene and propylene, two chemicals which are in high demand, while also helping our customers lower their carbon emissions.”

This new solution is part of Honeywell’s Integrated Olefin Suite technology portfolio – a first-of-its-kind in the industry that creates differentiated offerings to enhance the production of light olefins.

MediBuddy’s Mother’s Day Campaign MaaKiSehat Celebrates Moms as Eternal Caregivers

 10th May 2024: MediBuddy, India’s largest digital healthcare platform in a heartwarming tribute to mothers ahead of Mother’s Day, has unveiled an emotional campaign -#MaaKiSehat. The inspiring campaign video aims to recognize the selfless, nurturing care mothers provide from the moment a child is born. The campaign urges viewers to actively participate in their mothers’ well-being by encouraging them to seek medical advice whenever needed.

Mothers are the cornerstones of our families, often prioritizing the health and well-being of their loved ones above their own. This dedication of theirs often leads to neglecting their own healthcare needs. Universally, mothers are observed to put their families’ health first, potentially compromising their long-term well-being.

The campaign acknowledges mothers’ irreplaceable role in our lives, particularly regarding our well-being. While flowers and chocolates are cherished tokens of appreciation, this Mother’s Day MediBuddy’s campaign encourages a more meaningful gift – the gift of health. The campaign shows compassion and beautifully captures the often-overlooked reality that mothers are the unsung heroes of healthcare within families. By offering convenient access to doctors through its platform, MediBuddy empowers mothers to become their own healthcare advocates, ensuring they receive the same level of care and attention they so generously provide to their families.

Speaking about the campaign, Mr. Saibal Biswas, SVP, and Head of Marketing, Partnerships & PR at MediBuddy- “Mothers represent humanity’s first encounter with unconditional love and caretaking. We understand that mothers often put themselves last, but it is time to change that narrative. This campaign is a reminder to honour that and ensure every mother has access to the healthcare support they deserve. This empowers them to prioritise their own health and well-being while allowing them to continue showering us with love and care for years to come. We recognise that seeking healthcare can be daunting, especially when juggling the responsibilities of motherhood. This Mother’s Day, let us help our mother prioritise her health – because a healthy mom is a happy mom.”

This campaign is conceptualized and produced by MediBuddy’s in-house creative team. The campaign video is titled #MaaKiSehat and is 1 Minute in duration. The video will be amplified across all social media platforms.

Palo Alto Networks Enhances Cybersecurity with Cortex XSIAM and Autonomous Copilots

Mumbai, India., 10th May 2024 — Palo Alto Networks (NASDAQ: PANW) today shared its vision for fully autonomous security. As part of that announcement, the global cybersecurity leader introduced three new copilots that combine the power of generative AI (GenAI) with a proprietary collection of high-precision cybersecurity technologies. Strata™ Copilot, Prisma® Cloud Copilot, and Cortex® Copilot are seamlessly embedded in each of Palo Alto Networks’ leading security platforms, respectively. These next-generation assistants, powered by Precision AI™, help eliminate complexity in daily operations and drastically improve productivity for security teams.

“When GenAI went mainstream, we had a vision that it could be an incredible tool for autonomous security — we saw beyond the capability of simply providing answers, it could drive actions. To fulfill its promise, more innovation was needed,” said Lee Klarich, chief product officer, Palo Alto Networks. “By combining GenAI with other key technologies, we’ve improved precision and enabled actionability. This is the first step toward realizing our vision, brought to life via our Precision AI-powered copilots, radically improving security team productivity and security outcomes.”

GenAI holds tremendous promise for addressing specialized security tasks when combined with key technologies such as prepackaged automation, machine learning, strong guardrails, and fine-tuning of models. Precision AI is Palo Alto Networks’ proprietary, innovative approach to AI that combines GenAI along with machine learning (ML) and deep learning (DL) capabilities to create more effective assistants, leveraging comprehensive data and proven playbooks to offer guided automation and actionable insights. With Precision AI, copilots become more effective assistants by leveraging rich data and proven playbooks to offer actionable insights, automation, and guided actions.

“Generative AI promises to help security teams be more effective in their job through natural language interfaces,” said Scott Moser, SVP and CISO at Sabre. “The ability for more team members to query firewalls and all of the security tools using a natural language interface is extremely valuable in ensuring a very quick response to security threats, as well as getting better answers to the questions they ask.”

Strata Copilot, Prisma Cloud Copilot, and Cortex Copilot use the power and simplicity of natural language to help security analysts quickly and easily find, understand, and stop threats before they turn into trouble. Seamlessly integrated across Palo Alto Networks’ industry-leading network, cloud, and security operations platforms, these copilots guide analysts through every step of their day-to-day tasks, enabling them to investigate incidents faster, optimize their workflows, proactively stay ahead of emerging threats, and take action.

Palo Alto Networks Platform Copilot integration:

● Strata Copilot works with the Strata Network Security platform, including both SASE and NGFW deployments, and is accessed through Strata Cloud Manager.

● Prisma Cloud Copilot supports the entire Prisma Cloud, Code to Cloud™ platform, assisting in risk prioritization, remediation, threat detection and reporting.

● Cortex Copilot is delivered through the Cortex XSIAM® platform, enabling a more efficient and effective SOC.

Palo Alto Networks’ vision is to deliver true learning assistants where every interaction enhances the capabilities of the copilot. The drive toward autonomous cybersecurity will empower security teams with faster, more accurate knowledge and insights when needed and enable copilots to:

● Answer product knowledge questions in the context of your environment.

● Explore and visualize app, user, and threat activity.

● Answer targeted questions about your environment.

● Guide configuration to the optimal state.

● Search for details around an IoC (e.g., IP address, FQDN, URL, domain, hash, etc.).

● Assess the impact and coverage of a threat or CVE.

● Perform complex remediation actions initiated with simple, natural language requests.

● Assist in quick product navigation.

● Open support cases with issue details automatically collected and proactively submitted.

Palo Alto Networks new copilots powered by Precision AI are available in private preview. Read the blog to learn more about how the copilots will revolutionize customers’ responses to the latest threats.

GE Aerospace Launches GE Aerospace Foundation

May 10, 2024, Bengaluru – GE Aerospace recently announced the launch of the GE Aerospace Foundation, celebrating a new chapter that builds on the more than 100 year-legacy of the previous GE Foundation. The GE Aerospace Foundation’s philanthropic strategy and programs will help fulfill the company’s purpose to “lift people up” in GE Aerospace communities, with a focus on workforce development, disaster relief and amplifying the efforts of GE Aerospace employees.

In South Asia, GE Aerospace Foundation will continue to work with local partners to support disaster relief, education and healthcare for underprivileged communities. South Asia has received US $ 1.2 million in total Foundation related giving over the past 10 years which includes grants and related programming. These have benefited affected communities in Bangalore, Pune and other parts of South Asia.

“The responsibility to support and strengthen the communities where we live and work is one that GE Aerospace takes seriously,” said GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. “The launch of the GE Aerospace Foundation will help transform local communities and develop a stronger workforce for the future by leveraging our unique expertise as a global leading aerospace company. We are proud to carry on a 100-year legacy of positive impact, and I look forward to seeing the GE Aerospace Foundation continue to make a difference for many years to come.”

The Foundation’s programs will focus on three core areas and represent more than $22 million in new programming through 2030. Efforts will include cultivating a robust and diverse workforce in the manufacturing and engineering industries, investing in humanitarian and community programs that have demonstrated efficacy in global impact, and amplifying employee engagement worldwide.

“We are immensely proud to oversee this next chapter of philanthropic support with a focus on a stronger future workforce, disaster relief and amplifying employee giving,” said GE Aerospace Foundation President Meghan Thurlow. “We look forward to expanding our work supporting communities around the globe and advancing the development of a more diverse and skilled industry.”

Next Engineers and STEM education

The Foundation has committed $20 million through 2030 to expand Next Engineers, a global program working to increase the diversity of young workers in engineering, bridging the gap from middle school to college. The Next Engineers program in has reached nearly 18,000 students to date. The GE Aerospace Foundation announced today that it will extend the successful Cincinnati program through 2028. The Foundation also announced it will expand the Next Engineers program to four additional cities, including Warsaw, Poland with additional sites to be announced in coming years.

Workforce development

In response to growing aviation and manufacturing workforce demands, the GE Aerospace Foundation will donate $2 million to support workforce development programs in geographies where we live and work.

Disaster relief and humanitarian efforts

Drawing on GE Aerospace’s people, technology, and other resources, the Foundation announced a $2 million commitment to disaster relief and humanitarian aid, including a $1 million partnership with Airlink in recognition of the important role aviation plays in disaster response.

Matching Gifts program

The Foundation is also proud to continue its Matching Gifts program, bolstering employee efforts in their personal philanthropy, and the STAR Awards program providing competitive scholarships to children of eligible GE Aerospace employees around the world. GE created the concept of corporate matching gifts in 1954, with donations and matching exceeding $1.5 billion since inception. The STAR Awards program has provided more than $21 million in financial support through more than 15,000 awards since its launch in 1984.

The creation of the GE Aerospace Foundation follows the launch of GE Aerospace as an independent public company on April 2, 2024, that is defining the future of flight.

Celebrating Inclusivity: PVR INOX and Ncpedp Co-host First Day First Show of Srikanth

10th May 2024 PVR INOX, the largest and the most premium cinema exhibitor in India is proud to announce its association with The National Centre for Promotion of Employment for Disabled People (NCPEDP) to co-host a pan-India first-day first show of the much-anticipated film “Srikanth”. The groundbreaking movie, set to release in cinemas on 10th May 2024, marks a significant milestone as “Srikanth” becomes the first all-inclusive Hindi film, that not only has more than 70 actors with disabilities in its star cast but is also available in accessible formats for the Visually and Hearing impaired; in compliance with the recent mandate by the Ministry of Information and Broadcasting. Having started its journey to make its cinemas accessible for people with disabilities in 2018; PVR INOX is celebrating the advent of accessible movies in the country of this special show at just Rs. 99 per person.

Srikanth is a Hindi-language biographical film on the life of Srikanth Bolla, a visually-impaired Indian industrialist and the founder of Bollant Industries. It is directed by Tushar Hiranandani and stars Rajkummar Rao in the eponymous role with Jyothika, Alaya F, and Sharad Kelkar. Srikanth is a powerful narrative that beautifully portrays the resilience of people with disabilities. This resonates deeply with NCPEDP, India’s leading cross-disability advocacy organization dedicated to creating a more inclusive and accessible society. Patrons can book tickets for the special screening of “Srikanth” for the 10 AM Show on May 10 @ INR 99 through the PVR App, INOX App, PVR Website, and INOX Website.

Commenting on the collaboration, Mr. Gautam Dutta, CEO- Of revenue and Operations, PVR INOX Ltd. said, “Hosting the special screening of ‘Srikanth,’ India’s first all-inclusive Hindi movie having actors with disabilities and releasing with Audio Description for the Visually Impaired and subtitles for Hearing Impaired, being screened in our wheelchair-friendly cinemas is a significant milestone for us. We are delighted to collaborate with National Centre for Promotion of Employment for Disabled People (NCPEDP) to curate a first-day show of this inspirational movie embracing individuals from diverse backgrounds and abilities. At PVR INOX, we are deeply committed to creating inclusive and accessible cinematic experiences for patrons with locomotor disabilities, visual impairment, and hearing impairment.”

PVR embarked upon its Accessible Cinema program in early 2018. This involved a careful evaluation of various kinds of constraints that differently-abled people faced and finding solutions to enable them to enjoy films. Cinemas, since then have been made accessible for people with locomotor disabilities either by design or with the help of assistive equipment, removable seats have been installed to accommodate persons who are unable to move from their wheelchairs. For the hearing impaired, we have been making sub-titled shows easily discoverable on all booking platforms.

However, the company continued to face challenges for the visually impaired since even though there existed an arrangement with a Technology Company to stream audio descriptions through their app XL Cinema, there were no audio-described films except those done by NGOs, etc. However, with the Government’s latest ruling, doors have opened up for accessible entertainment in the country.

Speaking about the partnership, Mr. Arman Ali, Executive Director, National Centre for Promotion of Employment for Disabled People (NCPEDP) said, “Our partnership with PVR INOX for the exclusive screening of ‘Srikanth’ is a pivotal moment in our mission to promote equality for people with disabilities in all spheres of life. We appreciate PVR INOX’s proactive measures in enhancing accessibility in movie content and theatre infrastructure, thereby promoting broader inclusivity. Over the past 25 years, NCPEDP has been a staunch advocate for addressing the concerns of disabled individuals through a rights-based and gender-sensitive approach. We take pride in the government’s acknowledgment of the necessity for cinema accessibility standards, which open up the theatrical experience to a demographic that was previously excluded.”

IREDA incorporates subsidiary in GIFT City, Gujarat

Mumbai, 10th May 2024: Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat. Named “IREDA Global Green Energy Finance IFSC Limited,” the subsidiary was officially incorporated on 7th May 2024, after receiving the No Objection letter from the Reserve Bank of India on 8th February 2024, to setup the finance company in IFSC GIFT City.

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, said that IREDA’s presence in GIFT City signifies a momentous step in its mission to pioneer innovative approaches to green financing. This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector’s growth, aligning with the Government of India’s ambitious ‘Panchamrit’ targets.

He added that IREDA’s entry into the IFSC is anticipated to unlock fresh business prospects and establish its global footprint in the renewable energy sector. This strategic step is in line with our vision of facilitating sustainable development through renewable energy investments, both domestically and internationally. With IREDA’s presence in the IFSC, we anticipate greater access to innovative financing alternatives and enhanced collaboration with international investors, encouraging the advancement of renewable energy projects in the country and abroad.

Herbochem Unveils ‘+91 ASHWAGANDHA’: World’s First Tech-Optimized Full Spectrum Extract for Mental Wellness

10th May 2024: Herbochem, one of the oldest and most trusted manufacturers of phytochemicals with over 50 years of industry prowess, proudly introduces ‘+91 ASHWAGANDHA’, a revolutionary nutraceutical product that marks a groundbreaking advancement in the world of Ashwagandha extracts. Expertly developed through an innovative manufacturing process, +91 ASHWAGANDHA is designed to unlock the full potential of Ashwagandha, the world’s first full-spectrum extract focused on managing technology-related mental illness. + 91 Ashwagandha® stands out from the rest with its unique extraction technique that not only captures the active compounds but also maximizes the natural macro-nutrients like Potassium and Magnesium offering a comprehensive solution for technology nutrition and mental wellness. With +91 ASHWAGANDHA®, Herbochem ushers in a new era of holistic well-being, empowering individuals to thrive in the face of modern-day stressors and embrace a balanced, resilient lifestyle.

“We take immense pride in offering this proprietary, branded product – +91 ASHWAGANDHA, meticulously standardized to 7% Withanolides through state-of-the-art HPLC analysis. Our extract is a masterful blend of Ashwagandha roots, leaves, and a water-extracted fraction, carefully combined in an optimized ratio that we fondly refer to as the ‘golden ratio.’ This unique formulation is engineered to address the growing challenges of technology-related mental illness, providing a natural solution for combating stress, anxiety, and depression exacerbated by our increasingly digital lifestyles,” stated Mr. Karthik Kondepudi, Partner at Herbochem.

In a testament to Herbochem’s unwavering commitment to quality and innovation, the company conducted rigorous clinical studies, comparing +91 ASHWAGANDHA® with leading brands in the market. The results were resoundingly positive, solidifying Herbochem’s confidence in this groundbreaking product.

Ashwagandha, an adaptogenic herb revered in Ayurvedic traditions for centuries, is renowned for its ability to promote balanced mental and physical well-being. However, Herbochem recognized a gap in the market a need for innovation, and a focus on optimizing Ashwagandha extracts for specific indications. Thus, +91 ASHWAGANDHA® was born, a result of tireless efforts to address the growing demand for natural solutions to manage mental health concerns. An imbalance in mental health can lead to stress, anxiety, depression, and insomnia. Research on Ashwagandha’s root, leaves, and aqueous extract, which contains oligosaccharides, revealed beneficial effects on mental health. We created a full-spectrum Ashwagandha extract, combining the plant’s root, leaves, and aqueous extract in an optimized ratio. This natural product aims to manage common mental health concerns effectively.

IT Sector Witnesses Resurgence in Workforce Management Amidst Skill Transformation

As of FY23-24, India’s technology industry employed 5.39 million individuals, a testament to its significant workforce contribution. However, driven by multiple factors like economic slowdown, automation, restructuring, and decreased discretionary spending; in the past few quarters, IT companies have experienced a decline in headcount. Interestingly, amidst these challenges, on the positive side, India’s IT sector is witnessing quite a resurgence in contractual hiring.

WhatsApp Image 2024-05-09 at 14.51.34_1eaeb736Notably, sectors such as IT, consumer durables, ecommerce, GCCs, and retail are experiencing significant demand for contract positions with a 40-50% increase in these positions between 2023 and 2024. The most sought-after skill sets in the technology staffing domain encompass Google Cloud, data analytics, AI/ML, application development, ERP, networking, GenAI, and cybersecurity. Additionally, there is a nearly 30% average demand for UI/UX designers, data scientists, data analysts, etc.

While these roles will continue to flourish, some traditional roles like Computer Programming (C/Java), Web Development, Mobile Development, Cloud Computation, Web/Application Development, and Cloud Architecture are likely to be redefined.

Another interesting trend is that the IT sector today offers a range of roles that are resilient to economic downturns. Profiles like DevOps, Cybersecurity, AI & ML, and Data Science, among others, are poised to maintain high demand in the coming 2-3 years. Furthermore, recruitment for tech roles within nontech sectors such as telecom, banking, and financial services, insurance (BFSI), retail and e-commerce, and healthcare is anticipated to surge at a minimum of 10-12% on average.

As AI continues to accelerate disruption at an unprecedented pace, the imperative for continuous workforce upskilling becomes increasingly evident and consequential. Over the past decade, there have been many initiatives like industry-academia collaborations, the government’s Digital India and Skill India interventions, corporates prioritizing upskilling, etc., which have been instrumental in driving the skilling agenda.

However, we also still have the largest cohort of tech professionals equipped with traditional skill sets that are witnessing declining demand due to the disruptive forces of AI, robotization, and evolving skill requirements. In light of this evolving landscape, there is a critical need for interventions like effective upskilling, retention strategies, and succession plans. Organizations, in particular, must adopt a deliberate and proactive approach towards fostering skills and capabilities, particularly in the realm of AI, to effectively navigate this transformative era.

Commenting on the IT sector hiring scenario, Sachin Alug, CEO, of NLB Services said “Despite the recent turbulence in the technology ecosystem, the resurgence in contractual hiring and the surge in talent demand for emerging tech roles, both in tech and non-tech companies, heralds a new dawn for the sector. As we navigate through the disruptions brought by AI and automation, organizations, educational institutions and governing bodies need to collaborate in tandem to foster opportunities and create a robust pool of skilled talent for the future.”