Indian job market will grow by 22% in the next five years and AI and machine learning will be among the top roles: WEF

According to a recent World Economic Forum (WEF) study, the Indian job market is expected to expand by 22% over the next five years. As per the study, artificial intelligence (AI), machine learning, and data segments will create the top jobs.

According to WEF's most recent Future of Jobs study, 69 million new jobs are expected to be created globally over the next five years.

The survey included 803 companies, which combined employ more than 11.3 million people across 45 economies from across the globe and 27 sector clusters.

The report estimated that 61% of companies think broader applications of environment, social, and governance (ESG) standards will drive job growth, followed by increased adoption of new technologies (59%), and broadening digital access (55%).

The manufacturing and oil and gas industries have the greatest global levels of green skill intensity, according to the survey, with India, the US, and Finland topping the list for the oil and gas industry.

Compared to the global average of 87%, 97% of respondents in India indicated that "funded by organisation" was their preferred source of funding for training.

However, agriculture and education will create the most jobs in absolute terms. According to the report, employment in the education sector is predicted to increase by 10%, creating 3 million new jobs for university and higher education professors as well as teachers of vocational education. Jobs for agricultural professionals, especially agricultural equipment operators, graders, and sorters, are expected to see a 15-30% increase, leading to an additional 4 million jobs.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.