The Indian analytics and artificial intelligence industry seem to be getting exactly what they were hoping and praying for — fresh new talent.
In an exciting development, 66 offers were made to the batch of 52 students of the joint post graduate diploma in business analytics (PGDBA) programme of IIT Kharagpur, IIM Calcutta and ISI of Kolkata during the final placement process. The course set a new record as one of the students got the highest domestic salary offer of ₹35,00,000 per annum. The 2-year programme concluded with the batch of 52 students receiving a total of 66 offers made by 35 firms.
The programme which has been ranked top in India and 14thglobally among full-time business analytics course by the QS Rankings has witnessed a record increase of 11% in domestic offers alone with the mean salary going up to ₹24.40 lakh per annum. The overall average CTC has risen to ₹25.05 lakh per annum from ₹22.89 lakh per annum last year, said the instituted in an official blog post.
@IITKgp @IIM_Calcutta & ISI PG Diploma in Business Analytics Programme witnesses 11% salary hike. The program is ranked top in India and 14th globally by QS Business Masters Rankings: Business Analyticshttps://t.co/f4SXhoi6lR@HRDMinistry #businessanalytics @VGSOM_IIT_Kgp pic.twitter.com/ln8fBX63gR
— IIT Kharagpur (@IITKgp) March 20, 2019
BFSI made up for about a third of the total offers emerging as the biggest sector. The major recruiters from the final placements include JP Morgan Chase, Adani Group, Viacom18, Myntra, Flipkart, United Airlines, Piramal Group. Two international offers were also received.
With an impressive conversion rate of 63.5%, the PPOs make up the majority of the offers made. The major recruiters in the internship process included DE Shaw & Co, ABInBev, Amazon, PwC, Barclays, Gartner, Johnson & Johnson, Master Card. The average monthly stipend of the internships bettered last year’s number by 22.8% reaching ₹1,13,565/- this year. The median monthly stipend rose by a remarkable 29.4% to reach ₹1,11,100/-.
“The outstanding placements this year demonstrates to our focus on academic excellence and appreciation of PGDBA Program by Industry,” Professor Arun Misra, Faculty and Placement Convener of the PGDBA programme from IIT Kharagpur.
PGBDA is a 2-year full-time residential program in Business Analytics and Data Science started jointly by three premier institutes of the country – IIM Calcutta, ISI, IIT Kharagpur. The elite institutes lend their expertise in enriching the course curriculum with Statistics, Machine Learning and Computing and their contemporary Business applications in the Analytics industry.
The overwhelming response to the PGDBA programme is a direct result of the shift that is being seen in the industry — especially with respect to the adoption of analytics, artificial intelligence and machine learning, among others.
More and more companies are adopting artificial intelligence in their ecosystems in order to achieve business efficiency and revenue augmentation. Reports suggest that nearly 75% firms anticipate benefits in business process efficiency and employee productivity with the use of AI. The report also suggested an impending lack of skilled talent in the AI sector.