There is an adage –
Advice when most needed, is least heeded.
About two decades ago, the IT industry jumped on the bandwagon of growth, celebrating tremendous success. There were, no doubt, periods of slowdown and recession. But these were as ephemeral as the dark clouds of the fall. The success story now seems to have come to an end.
A survey by Livemint stated that in 2017, 7 of the top IT organizations terminated about 56,000 employees. These organizations include Infosys, Capgemini, Wipro, etc. The survey further forecasted that in the next 3 years, there will be an additional layoff of 200,000 software engineers annually with more and more companies making it to the list.
Has this downturn been sudden, hitting the IT industry like a bolt? It, unfortunately, is not. This slump was imminent and the advice of industry experts’ was not heeded.
In 2018, the list of companies carrying out layoffs became 18. Thus, the current state of IT industry looks dicey.
The Velocity of Technology Innovation and Evolution
Transformation is the only constant in the technology world. In the recent times, technologies have evolved at breakneck speed. Those who will align themselves with these innovations will lead themselves and their enterprises to success, those who do not are bound to lose their ventures. Emerging technologies such as Machine Learning and AI, Data Science, Internet of Things (IoT), Cloud Computing, Big Data, Augmented Reality and Virtual Reality have caused great disruption in the technology sphere. Due to their magnanimity or simplicity, or both, they can have a positive impact in transforming the otherwise stagnant IT careers to combat layoffs plaguing IT professionals.
What are your options?
Following are the emerging technologies that, one or more, must be a part of every IT professional’s technology repertoire:
- No intelligence is as desirable as Artificial Intelligence
The phrase ‘technology of the future’ is synonymous with Artificial Intelligence. Such has been the impact of AI, Machine Learning, and Deep Learning; since it can make machines learn and do work with minimum human intervention. AI allows the software application streamline internal workflows and external systems for businesses. This will not only facilitate high-speed and precision, but also the potential for further scalability.
- Internet of Things (IoT) is “the” thing that matters
Internet of Things technology is being incorporated into applications for every industry vertical. It helps to integrate data and monitor control on several kinds of devices through sensors enabled with the Internet. This gives the businesses capability to monitor and control its operations and customer-reach effectively and efficiently.
- Big Data has bigger implications
Enterprises will always strive for technologies that will enable them to make more informed decisions. This is where the role of Big Data and analytics comes into play. Dealing with massive volumes of data, Big Data helps in uncovering hidden patterns, market trends, and unidentified correlations to enhance the overall decision-making.
- Cloud has an extensive reach, so must your expertise
When data can be accessed from anywhere in the world while being managed centrally in the cloud servers, enterprise applications will have a global consistency. Applications that are cloud enabled and integrated allow lightweight systems with powerful capabilities. Powered by the Cloud, applications can have smaller size with larger storage capacity.
- Augmented Reality has become more real than reality
In case of delivering engagement to the end users, augmented reality has immense potential. The success of PokemonGo in 2016 is a proof of this fact. Applications that incorporate AR can do wonders for businesses.
Upskill or Perish: The Choice is yours
According to a survey, 9 out of 10 engineering graduates are unemployable.
This is an intimidating fact. The case of senior IT professionals is even more daunting. Working for years with the same skill sets, these professionals are not doing any justice to the higher remunerations they draw. And so, their organizations are left with no other option than layoffs.
There is an opportunity in every calamity.
All you need is to look at things in the right perspective. With a little introspection, you will realize that the skills you possess are either outdated or not aligned with the market and industry trends. If that is the case, upskilling is the only option you have to save your stagnating IT career which would otherwise ruin eventually.