7 of India’s biggest IT companies including Infosys, Wipro and Cognizant are laid off 56,000 engineers in 2017. 2017 layoffs were double the level in 2016. This is because they are not prepared to adapt to newer technologies. Less than 5% of Indian techies are equipped to handle high-skilled jobs.
For several years now, Indian IT firms have anyway been moving away from labor-intensive projects towards more remote and technology-based solutions such as video conferencing, cloud computing, and artificial intelligence (AI). This has resulted in hundreds of entry-level roles like data entry and server maintenance becoming obsolete.
Nearly one-third (700,000) of the low-skilled Indian IT workers are at risk of losing their jobs by 2022.
Hiring was cut as well with entry-level openings having more than halved in 2017.
Tata Consultancy Services (TCS) and Infosys, two of India’s largest IT companies and once leaders in job creation, reduced their headcounts for the first time ever. Even mid-sized players like Tech Mahindra retrenched several employees.
The USA Protect and Grow American Jobs Act classifies any company that has more 15% of its workforce working on-site as “visa-dependent.” Indian outsourcing companies sometimes have over 50% of their manpower working on-site.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.