Software Industry 2018 – Changes in The Job Market

Read on How Job market change in the future due to the Software Industries.

With smarter technologies and a perceptive shift in the way employees are hired and retained, a lot of changes are expected to come in the year 2018 in terms of the new jobs that will hit the market, the old jobs that will be steered clear of forever, and the areas of the industry that will remain as is.

Technologies like Artificial Intelligence, Internet of Things, and automation are already affecting and will more so do in the year 2018. According to a report by the job-search platform Glassdoor, these technologies are expected to affect almost every aspect of the workforce.

Jobs throughout the world

Further in the report that came out on the 3rd of Jan, it was stated that Artificial Intelligence will, most of all, affect one particular job, which is Human Relations.

Since HR departments are the ones responsible for shuffling about numerous resumes and job applications, with AI-powered tools like HiringSolved, Entelo, and Textio who seem to help a lot with the process, the HR managers of today might face the heat.

Artificial Intelligence applications are also being employed to prepare drafts for job descriptions, as the process needs to be free of any biased language and is repetitive. Glassdoor states that we could witness a blending of AI into HR and Recruiting jobs this year.

AI and Machine Learning are also set to affect the Financial services market by handling the routine and repetitive tasks like maintaining hedges and executing trades. This will lead to a growth in the higher-level financial advisory and sales roles that require judgment, credibility, and long-term human relationship building, that is, all things that are inherently “human”.

A statistic from November last year confirmed an addition of 1.9 million new jobs in the year 2017. the unemployment rate was recorded at the 17-year low mark of 4.1 percent.

Countering the popular notion that AI could wipe out from the market jobs that are repetitive and monotonous, Glassdoor Chief Economist Andrew Chamberlain believes that AI almost never replaces jobs altogether, but handles a part of them and leave a part behind for humans to tackle.

Healthcare sectors jobs will be affected by AI too in a sense because AI is helping radiologists in detecting cancer more accurately in a patient’s imaging scans.

In the retail sector, AI has enabled in-home shopping experiences that are much better than the hassle of hitting a market for every tiny bit. Consider this happening via Amazon’s voice service and assistant Alexa.

In the Transportation and mobility sector AI-assisted trucking, loading, and package delivery are making the process smooth and quick, apart from helping in safer deliveries sans the human errors.

Glassdoor has also revealed a major shift in tracking the status of a job application. It has remarked that more than half of its monthly 48 million unique visitors use a mobile phone to access the site in order to check for the jobs and the employers’ information.

Companies are expected to make the hiring process simpler for the candidates and will supposedly upgrade their software and applications to enable a smoother application process through a mobile device.

Healthcare jobs are predicted by Glassdoor to grow in the year 2018. a whopping 1.1 million jobs will be added for home health care aides between the 2016-2026 decade. The most growing jobs would be that of registered nurses, medical assistants, and nursing assistants according to the data from the Bureau of Labor Statistics.

The Job Market in India

The Indian Software development Companies can look forward to increasing the tech spend again owing to the thriving of the US Economy. According to V Balakrishnan, former CEO of Infosys, companies’ ability to grab the growth opportunities will be critical this year. He quotes a Gartner report on the subject, and went on to say that the overall IT spending might go up by 4 to 4.5 percent and that there is a possibility of growth should companies seize it.

NASSCOM has predicted the Indian IT export services to grow 7-8 percent in the year 2017-2018 and an expansion in the domestic market of about 11 percent.