July sees 47% year-on-year growth in AI and Machine learning jobs: Report

White-collar hiring activity has reached new heights over the past year. The Naukri JobSpeak Index soared to 2,877 points in July 2024, marking the highest level in the past 12 months and a 12% increase from July 2023. Nearly all sectors experienced double-digit growth, with artificial intelligence (AI) and machine learning (ML) leading the way with a 47% year-on-year increase. Other sectors showing significant growth include insurance (42%), banking and finance (27%), and FMCG (26%).

The pharma and biotech sector saw a notable 26% year-on-year increase, with Baroda (61%) and Hyderabad (39%) contributing significantly. Key roles in pharma, such as sales and business development, procurement, and supply chain, experienced a 42% rise in hiring, according to the report.

Gujarat continued to dominate in hiring activity, with Rajkot, Jamnagar, and Baroda recording growth rates of 39%, 38%, and 25%, respectively. Meanwhile, Hyderabad has emerged as a crucial hub for job creation in various industries, including hospitality (76%), insurance (71%), BPO (52%), and oil & gas (44%).

The report highlights that hiring activity was most robust among individuals with over 16 years of work experience. In contrast, job opportunities for professionals with 0-3 and 4-7 years of experience were the lowest, each at 7%, in July.

The Naukri index reflects the aggregated hiring activity of over 100,000 clients, generating more than 7 million new job mandates annually.