Information Technology (IT) firms, despite the rising protectionism, data flow curbs and technological shifts, will be investing heavily on automation and artificial intelligence (AI), Economic Times has reported.
According to the report, 2018 has been the year of ‘Digital at Scale’ for Nasscom, the industry body of software firms, as IT firms focused on exploring new technologies and ensuring sustainability by creating right skills.
The industry body has predicted that software exports will continue to increase at the rate of 7 to 9 per cent in 2018-19. It has also estimated that the domestic revenue could grow by 10-12 per cent.
Rising protectionism in United States, United Kingdom and Australia has been a cause of concern for the IT industry. Implementation of General Data Protection Regulation (GDPR) in Europe was another challenge faced by the Industry.
However, this provided an opportunity for Indian software firms to build their own expertise, create new lines of advisory and consulting businesses, according to Microsoft India president, Anant Maheshwari.
"Escalating threat landscape with a spate of high profile breaches and increased focus on regulations have ensured that the cyber security and governance risk and compliance services are much sought after," an HCL spokesperson was quoted in the report as saying.
According to the report, a recent survey by TeamLease predicts that Indian IT sector will add around 2,50,000 new jobs in 2019. Automation, AI and robotics are expected to change workplace culture and skill requirements. Machine learning, big data analytics and AI developers jobs will be paid the highest among the new jobs added to IT industry, the report added.