New Report Projects 33.89 Million Job Growth Driven by AI and Tech Transformation

India’s labor market is on a transformative path, with the workforce projected to expand from 423.7 million in 2023 to 457.6 million by 2028, a net increase of 33.89 million jobs. This insight comes from a new report by American software firm ServiceNow, which highlights the potential of emerging technologies to reshape talent across key sectors and generate 2.73 million new positions in tech alone over the next five years.

Key Findings of the Report: Tech, Manufacturing, Education, and Healthcare on the Rise

The report outlines substantial job creation across several industries due to anticipated economic growth and advancements in technology:

Technology Sector: 2.73 million new jobs by 2028, driven by demand for roles in areas like software application development and data engineering.

Manufacturing: Expected to generate 1.5 million jobs, as innovation reshapes production and processes.

Education: Projected to add 84,000 jobs, fueled by a push toward digital learning solutions and online education.

Healthcare: An estimated 80,000 new positions, supported by increasing investment in digital health services.

This surge in demand is presenting professionals, especially those in retail, with valuable opportunities to upskill in tech-centric roles, the report noted.

AI as a Catalyst for Job Creation in India

Artificial Intelligence (AI) is identified as a crucial driver of employment growth across India’s leading sectors. According to ServiceNow India Technology and Business Center’s Senior Vice President and Managing Director, Sumeet Mathur, AI will be instrumental in creating jobs that require advanced technical expertise. “This strategic emphasis on AI will not only provide high-value opportunities for professionals but also enable them to build sustainable digital careers,” Mathur stated.

He emphasized that by equipping the workforce with advanced tech skills, India can maintain its competitive edge in the global technology landscape.

Role-Specific Impact: How AI Will Revolutionize the Workforce

The report offers an in-depth look at how specific roles will benefit from the integration of AI and other advanced technologies:

AI Systems Engineers: Expected to see significant growth, with Generative AI contributing to half of the total tech impact in this role.

Implementation Consultants: Could save up to 1.9 hours per week by automating repetitive tasks, freeing time for more strategic projects.

Platform Owners: The least impacted, yet anticipated to save nearly half an hour each week as AI streamlines routine operations.

Emerging technologies are set to transform the tech ecosystem, enabling professionals to work smarter and more efficiently across the board, the report concluded.

A Data-Driven Forecast: Ensuring India’s Leadership in the Global Tech Economy

This report’s projections are based on a comprehensive analysis of India’s labor market using census and labor force data, alongside economic growth forecasts from the International Monetary Fund (IMF). By fostering tech skills in its workforce, India can secure a leading role in the global digital economy.

As India’s job market continues to expand, the influence of AI and other technologies offers both opportunities and challenges, positioning the country for a tech-driven future powered by a skilled and adaptable workforce.