Is it true that there will be a loss of IT jobs in the next 2-3 years?

Updated on : December 6, 2021 by Riley Gordon



Is it true that there will be a loss of IT jobs in the next 2-3 years?

This is the year 2020 and the work you used to do is gone.

The IT industry is going through a period of uncertainty and the adoption of digital technologies is occurring at a much faster rate. Changing technology is primarily affecting professionals aged 35 and over, leading to further job losses and unemployment. Companies are focusing on retraining and undermining the new technology learning process.

Advances in artificial intelligence, robotics, and biotechnology would disrupt the business world in ways corresponding to the modern transformations of the past.

According to the World Economic F

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This is the year 2020 and the work you used to do is gone.

The IT industry is going through a period of uncertainty and the adoption of digital technologies is occurring at a much faster rate. Changing technology is primarily affecting professionals aged 35 and over, leading to further job losses and unemployment. Companies are focusing on retraining and undermining the new technology learning process.

Advances in artificial intelligence, robotics, and biotechnology would disrupt the business world in ways corresponding to the modern transformations of the past.

According to the World Economic Forum report, the "fourth industrial revolution" by 2020 is believed to reduce white-collar and white-collar jobs. The impact of the technological revolution will result in a net loss of approximately 5.1 million jobs over the next five years in 15 leading countries that together make up 65% of the world's workforce.

"Gartner predicts that one in three jobs will become intelligent software, robots and machines by 2025," Sondergaard said. "New digital businesses require less manpower; machines will understand data faster than humans."

Top Reasons for IT Job Cuts Lies Behind Upcoming Technologies

The McKinsey & Company report had said that nearly half of the workforce in IT services companies will be "irrelevant" for the next 3-4 years.

AI (artificial intelligence) -

We have AI progressing and we have a variety of virtual assistants like Alexa, Cortana, Siri, and Google Now, as well as chatbots that we see today. Within five years, robots and so-called intelligent agents will eliminate many positions that represent 6% of jobs.

According to a Forrester report, "By 2021, a disruptive tidal wave will begin."

Giants like Facebook and Google are working on the huge amount of data to train algorithms that will turn that "unstructured data" into useful information. This will create a trend line for artificial intelligence and cognitive services. The self-learning capabilities in software will extend them to other areas as well.

Automation:

Automation will help companies further reduce costs. The projected loss of approximately 66% of jobs is expected to be believed as smart machines will take over both the physical and intellectual work. For now they are considered to be quite simple, but disruptive trends are in the future, which will lead to massive improvements.

According to HfS Research, by 2021 the IT industry worldwide would see a net decrease of 9% in workforce, or around 1.4 million jobs, and countries like the Philippines, the UK and the US as well. they would be affected.

Digital transformation:

This is a bad time for the best digital transformation. The Industrial Revolution results in the loss of jobs and some areas benefit from this and other aspects are lost. The world will grow with the general digital space everywhere, from having sensors everywhere to IoT. Businesses will have better alternatives to manage assets, perform predictive maintenance, and obtain live status information.

Digital Transformation: Expect Massive Job Cuts, Says Gartner SVP

Is it worrying you?

At the same time, however, there will be a growing demand for certain skilled workers. Technology powers almost every industry, and as a result, business leaders will begin to see IT from a different perspective. The advent of technology will make organizations smarter and therefore capable of improving business practices. Overall, this will make departments more efficient and stay ahead of the competition.

Yes, there will be, but it has been that way for the past few years, especially after the 2008 recession. However, it is the number of jobs lost that will be higher this time.

Previous IT companies had double-digit growth, while now they are struggling to post even 8% growth. They used to have a great force at the bank, but now they don't keep many employees at the bank. They want to remove the middle layer as they are mostly mid-level managers or senior developers or architects who are paid 4 times more than those with 3 years of experience. Also, most of these mid-level employees are not billable.

This has led to

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Yes, there will be, but it has been that way for the past few years, especially after the 2008 recession. However, it is the number of jobs lost that will be higher this time.

Previous IT companies had double-digit growth, while now they are struggling to post even 8% growth. They used to have a great force at the bank, but now they don't keep many employees at the bank. They want to remove the middle layer as they are mostly mid-level managers or senior developers or architects who are paid 4 times more than those with 3 years of experience. Also, most of these mid-level employees are not billable.

This has led to a situation where these companies are and will lay off mid-level employees and take on less experienced employees to increase their profits. At the same time, since they don't maintain much bank strength, when they get a new project they are looking for consulting contractors to work on these new projects.

So over a period of time, we will see many contractors on each project and many of these laid off employees will move to such consultancies where they will be delegated to these IT companies to work as contractors.

This is a trend that I see in the future. Don't be fooled by our IT minister saying there are no job losses and IT companies will continue to hire this year as well. It just means that experienced mid-level employees will be laid off and an equal number of junior employees will be hired.

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