The esteemed Indian Institutes of Technology (IITs) class of 2024 is facing difficulties in their professional careers. A worrying pattern has come to light through recent disclosures made under the Right to Information (RTI) Act, which were filed by IIT Kanpur alumni Dheeraj Singh: almost 38% of IIT graduates across all 23 campuses have not yet found jobs. Compared to the roughly 3,400 unplaced students reported two years ago, this translates to almost 7,000 students who are still unplaced through campus placements this year.
Alumni Intervention
Several IITs like IIT Delhi, IIT Bombay and Birla Institute of Technology and Science have reached out to their alumni networks for support in reaction to this concerning scenario. For example, IIT Delhi has contacted its alums to ask for help placing the current batch of students or referring grads to companies looking for engineers. In a similar vein, several institutions have made both official and informal pleas to their graduates, asking them to help the unplaced grads find employment, recommendations, referrals, and internships.
Continued Efforts and Challenges
The problem still exists in spite of their attempts. About 400 students were still waiting for job placements at the end of the placement process at IIT Delhi for the academic year 2023–2024. A same situation exists at IIT Bombay, where about 10% of the graduating class is still unemployed. The circumstance emphasises how crucial alumni help is in closing the knowledge gap between grads and potential employers.
The Impact of Artificial Intelligence
The effects of automation and artificial intelligence (AI) are a major component in the difficulties IIT graduates experience in finding employment. The vice-chancellor of BITS Group, V Ramgopal Rao, recently stated that there has been a 20–30% decrease in placements at engineering colleges. He attributed some of this fall to the reduction in hiring requirements brought about by artificial intelligence (AI) and huge language models such as ChatGPT. Global economic variables have also made matters worse, including overhiring and the unpredictability of election years in different nations.
The Future of Work in the Age of AI
The significant effects of artificial intelligence on the job market have been emphasised by a McKinsey Global Institute research titled “Generative AI and the Future of Work in America”. According to the analysis, artificial intelligence (AI) may account for as much as 30% of labour hours in the US economy alone by 2030, which would cause a major shift in the job landscape across a range of industries. Workers will need to adjust to shifting employment environments and look for chances in new industries as AI develops.
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