The recent developments in the fields of IoT and AI have given organizations new ways of doing business, making them digitally transformed in the process. But, to efficiently make use of these technologies, they also need skilled human resources.
As per the data released by Talent Supply Index (TSI) by Belong – a predictive outbound recruitment solution provider, the increasing demand for IoT (Internet of Things), Machine Learning, Artificial Intelligence and Cloud has increased the demand for talent skilled in these platforms and at present, the demand is outstripping the supply.
The TSI index is based on the data findings by Belong platform and other publicly available data from various hiring sources. The findings help businesses plan their hiring strategies, costs, efforts, and cycles accordingly.
The recent TSI index survey result highlighted an increasing demand for data scientists, developers, security engineers who ranked 0.8, 0.7 and 0.4 respectively. A role closer to zero indicates a supply constrained market and if it goes below 1, it means a supply negative market.
Vijay Sharma, Co-Founder, and CEO – Belong, said, “What’s clear is that even in the midst of all the layoffs, it’s solidly a candidate-driven market for the jobs of the future. This trend will only accelerate with more companies investing aggressively in the cloud and emerging technologies like AI, while supply struggles to keep pace.”
The demand for the IoT talent has considerably increased between 2014 to 2017 by 304%. Companies like Cisco, IBM, Qualcomm and Intel were identified as the major employers of these technologies.
The report also signaled a crunch in the middle management layers with a supply-negative index of 0.6%.
The index determines the supply of talent for a specific job role by dividing the total number of people having the required skills with the total number of active opportunities.