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AI crowds out fresh grads at Wall Street Tech Hubs in India

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AI crowds out fresh grads at Wall Street Tech Hubs in India

Business News Tech AI AI crowds out fresh grads at Wall Street Tech Hubs in India

AI crowds out fresh grads at Wall Street Tech Hubs in India

The landscape of entry-level employment for Indian graduates is shifting dramatically due to advancements in AI technology. As machines tackle more mundane tasks, the demand for conventional positions dwindles. This reality compels new graduates to acquire advanced skills for job acquisition. In response, universities are incorporating AI-focused programs to better equip students.

Purva Jagtap graduated from her engineering college in India this year with a degree she expected would land her a dream job at a tech hub, perhaps one run by a big Wall Street bank. Her family had paid about $5,640 in tuition, twice the average annual salary in the country, hoping it would launch her corporate career. Instead, the 22-year-old is spending her days applying for jobs and competing with thousands of other graduates for entry-level roles that India’s so-called Global Capability Centers once minted by the millions. Artificial intelligence is rapidly changing that equation. Inside the glass towers of GCCs in Bengaluru, Hyderabad and Pune, banks like JPMorgan Chase & Co. and Goldman Sachs Group Inc. are automating much of the work that once formed the bottom rung of the tech ladder: checking loan documents, reconciling accounts, writing basic code and invoicing.

Y. Patil University. ” AI is upending labor markets around the world, yet few countries have as much at stake as India, long considered a nation of coders.


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