Domestic IT companies could slash headcounts by a massive 3 million by 2022 due to automation as per a report by Nasscom.
Software firms in India currently employ over 16 million people out of which 9 million are employed in low-skilled services and BPO roles. It is these roles in BPOs and low skilled services that are likely to see a big hit over the next year.
Nasscom estimates that over 30% of this category of employees will be out of a job principally driven by the impact of robot process automation or RPA. The tech industry is estimated to save close to $100 billion in salary costs due to the automation updates.