Budget 2019: Startups cheer Nirmala Sitharaman’s focus on ‘new-age’ AI, IoT skills to meet demand for tech talent

Budget 2019-20: Lack of quality talent has been among the known issues that small businesses and startups face in scaling their businesses. Moreover, the increased significance of deep technologies including artificial intelligence (AI), machine learning (ML), augmented and virtual reality (AR/VR), internet of things (IoT), etc., globally for faster technology development, adoption, and customer satisfaction has augmented the need for developing a special workforce equipped with the understanding of such technologies.

Finance minister Nirmala Sitharaman’s focus on acquiring skills around these technologies “which are valued highly both within and outside the country, and offer much higher remuneration” as said in the budget speech coincides with that need that would particularly boost young businesses who have been developing use cases around these technologies to acquire respective talent.