New technologies such as artificial intelligence, data science, blockchain etc. are paving way for ground-breaking innovations across industries around the globe. These technologies are replacing traditional business processes with efficient and faster ones. Therefore, companies are looking for the human workforce who are equipped and proficient in skills required for development, implementation, and execution of processes enabled with new-age technologies.
At the same time, these technologies are creating jobs for the new generation of workforce.
According to PwC report, there will be 2.7 million job postings related to data science and big data analytics in the market. Formal education and skill development programs, however, lack in these prospects that meet the demand for these roles and impart relevant skills, thereby, limiting the supply of such talent in the industry.
Following tech skills are in-demand in the market:
1. Artificial Intelligence – Growing at 55.6% CAGR, Global artificial intelligence market is expected to reach $169.411 by 2025. This figure alone gives us the growth in this sector. With skyrocketing salaries, roles in artificial intelligence have been highly lucrative. According to an Economic Times report, companies are paying 60-70% hike to AI professionals.
Artificial intelligence, therefore, presents a good opportunity for professionals looking to grow in their positions financially.
2. Data Science – Data science is growing exponentially. Organizations growing impetus on data-driven decision making is driving the demand for data science professionals. Explosion of data is creating new avenues for the industry to venture and innovate in this field. According to Allied Market Research, the expenditure on data science solution and services is increasing, leading to marked increase in revenue. The revenue from data science solutions and services is expected to grow 7.4 times by 2023.
Demand for data science professionals is sky high. However, supply of data science talent is shunted, owing to lack of commensurate skill development programs. Therefore, professionals are moving toward data science certifications to equip themselves in relevant skills.
3. Blockchain – Blockchain technology is growing with an unprecedented rate. Organizations are investing heavily in blockchain development, led to break through innovations. With respect to data, blockchain offers a gamut of features including security, decentralization, and immutability – which makes it a viable solution for many industrial challenges.
In 2018, nearly 30 percent of consumer and manufacturing organizations were using blockchain. Every industry had at least 10 percent organizations putting blockchain technology to use, according to Statista.
Blockchain is proving to be as solid and powerful technology coupled with artificial intelligence and Big Data, as much as it has proved to be an immensely useful technology as a standalone technology.
Adoption of blockchain technology is growing across all spheres of the industry, leading to demand for talent skilled in development and implementation of the technology.
Blockchain and other new technologies are becoming a priority for organizations. Further, leading to demand for talent.
4. Cloud Developers – Multi-national corporations, start-ups, and small-medium businesses are moving from physical data centers to cloud for development and data storage. This, in turn, has increased demand for professionals who are proficient in cloud deployment and maintenance. AWS, Azure, Google Cloud, and VM ware are popular cloud vendors which business opt for. As a cloud developer, you should know the ins and outs of cloud.
As per indeed, the average salary of a cloud developer ranges between $82,550 to $141, 379.
5. Cybersecurity Expert – Cybersecurity has been increasingly important for companies. Recent data breaches around the world have pushed the industry to focus on cyber security. Thereby, increasing demand for cybersecurity professionals.
A cybersecurity expert oversees protection of IT infrastructure, runs risk analysis and mitigation, architects cloud-based security, and data.
ZipRecuiter says the average salary of a cybersecurity expert is $110,899 a year.
6. IoT ( Internet of Things)
Wearable technology is spreading faster than imagined. It is the reflection of what is seen in the movies. Using IoT companies collect data to analyze and making decisions for improvisation. Businesses as well as personal communications become more integrated, demand for IoT experts will increase.
An IoT professional is expected to know privacy and security issues related to connected devices. Additionally, regulations around IoT is important. As an IoT expert, you should know methodologies to implement IoT in practice.
The average salary of an IoT engineer is $175,331 per year, according to Indeed.
7. Machine Learning Engineer
Familiar with Netflix movie recommendations? If yes, you have seen the work of machine learning engineers. Machine learning is an extended part of data science. It requires knowledge of sophisticated machine learning algorithms. Additionally, understanding deep learning and neural networks works in their favor. Machine learning engineers build recommendation engines and other prediction models. Machine learning engineers earns $114,121 annually.
These top 7 skills will increase your demand in the job market.