There's a pick up in hiring activities in these sectors as per Naukri index, what about AI? Details

Unicorns have been facing a funding crunch. Despite that, the sector has shown an 8% YoY growth, as per Naukri index.

Naukri's JobSpeak Index of March showed a rise in demand for certain industry sectors. The index which stood at 2,657 in March 2024, saw a 4% dip from the previous month and 11% correction on a year-on-year basis. The index showed that oil and gas sector's hiring increased by 22% over the prior year. The demand for hiring experts with 16 years or more of experience increased by 11% year over year (YoY). Also, the key roles that saw high demand were MEP engineers and electrical engineers in this sector.

Key roles that saw high demand were MEP engineers and electrical engineers in this sector.

Is there more and more demand for AI roles?

The survey stated that demand for AI and machine learning roles has increased by 12%. The position of machine learning (ML) engineer had the most hiring demand among the artificial intelligence (AI) and ML fields, with an 82% YoY growth. With an increase of 20%, full-stack data scientists were also in demand.

The hiring in the Pharma sector rose by 2%, according to Naukri index. The growth from places like Ahmedabad, Mumbai, and Baroda was particularly noteworthy. Indeed, Naukri has shown that there is a desire for employment in Rajkot, Raipur, and Guwahati as it has broadened its reach to include these growing cities.

What about startups and hiring?

Unicorns have been facing a funding crunch. Despite that, the sector has shown an 8% YoY growth. The software services space in startups has given a boost to this segment with an increase of 77% in hiring requirements.

Which sectors showed a dip?

There has been a dip in hiring in IT, BPO, and retail sectors by 16%, 6%, and 5%, respectively, over the last year.

Pawan Goyal, Chief Business Officer of Naukri.com, said, “Basis the latest Naukri JobSpeak report & analytics, to me the Indian white-collar job market looks poised as we exit a challenging year given the headwinds faced by the IT sector. With the brline correction behind us and a few bright spots visible in March, positive trends in the coming quarters seem quite plausible. Demand for seasoned professionals and Indian AI/ML talent should give everyone lots to cheer for.”