A recent study by Mercer | Mettl, the world’s largest skill assessment platform, has revealed that nearly half of the all graduates exploring career opportunities in AI/ML (Artificial Intelligence/Machine Learning)-related roles are job-ready.
According to Mercer | Mettl’s “India’s Graduate Skill Index 2023” study, Indian graduates present an impressive employability rate of 48% in AI/ML roles, indicating a significant talent pool capable of meeting the growing demand in this cutting-edge technology. The study emphasizes that the growing demand for talent in the AI/ML areas opens doors to promising career opportunities and underscores the importance of encouraging graduates to pursue and acquire AI-related skills and knowledge.
Overall, 45% of all graduates in India demonstrate the readiness to meet the industry’s ever- changing demands. The employability prospects for Indian graduates, according to the Mercer | Mettl study, has some distinct variations between tech and non-tech skills. Among the tech skills, while Applied Mathematics skills stands out with an impressive employability rate of 72%, the other skills with high employability potential include Data Science (57%), MySQL (57%) and Oracle SQL (54%). Among the sought-after roles, Indian graduates exhibit highest employability in AI/ML roles at 48%. The Backend Development, Data Science, Data Analysis, and QA Automation roles have a similar employability rate of 39%.
Among the non-tech roles, according to the Mercer | Mettl study, the Financial Analyst role shows an employability rate of 45%, closely followed by Human Resources Associate at 44%. Business Analyst exhibit a similar employability rate of 45%, while the Project Manager roles have an employability rate of 39%. On the other hand, Sales and Business Development roles present the lowest employability at 37%.
The study notes that the employability of graduates in the emerging job roles such as Backend Developer, Data Scientist, Data Analyst, and QA Automation shows a similar employability range across three tiers of colleges. This trend suggests that learners from different tiers of colleges have similar opportunities to acquire these skill sets, potentially through self-learning and access to online courses.
Launching the “India’s Graduate Skill Index 2023” study, Siddhartha Gupta, Chief Executive Officer, Mercer | Mettl, said, “A rapidly changing job landscape calls for a nimble-footed approach and our study reveals that Indian graduates are well-prepared to respond to the opportunity with right skillsets. The job market of the future will be increasingly dynamic, and an open mindset with readiness to upskill and reskill as per the changing demands will act as a key differentiator. As the world’s largest tech-led skill assessment company, we strongly believe that an industry-academia collaboration in addressing the existing gaps would go a long way in creating job-ready graduates.”
The Mercer | Mettl’s India’s Graduate Skill Index 2023 is an outcome of a comprehensive analysis, evaluating data from 2500+ campuses and 440,000+ learners to assess the skill readiness of young India. The report calls on the employers and educational institutions to bridge skills gaps to equip India’s emerging workforce for future demands and embrace the opportunities in a rapidly changing job landscape. These insights should aid corporates in making informed hiring decisions and empower graduates to align their skill sets with industry demands, ensuring a successful transition from education to the workforce.
