IITs (Indian Institute of Technology) are Institutes of National Importance (INI), and its alumni are at the helm of various organisations worldwide. Lauding the qualities and professionalism of IIT graduates, Prime Minister of Singapore Lee Hsien Loong said during an interview with Channel News Asia on varied topics, “The IITs and the IIMs are the premier institutions in India and securing a place in them is comparable to getting into the Massachusetts Institute of Technology, Harvard University, or Stanford University.”
Recruiters from national and international organisations visit IIT campuses a day before the placement season, leading to the development of the renowned term ‘Day Zero.’ At IITs, 100% placement was the standard norm.
When we look at the 2024 hiring season, the scenario seems less than rosy. An RTI by Dheeraj Kumar, an alumnus of the Indian Institute of Technology, Kanpur, has revealed that over 7,000 IIT students have yet to be placed on 23 campuses across IITs.
The Reason
V Ramgopal Rao (Vice-Chancellor of BITS Group) said, “There has been a remarkable impact of LLMs and ChatGPT with placements 20 to 30% lower in this hiring season across India. Also, elections in India and several other countries worldwide led to a ‘wait-and-see’ approach by many organisations.”
The Solution
This hiring trend suggests taking a proactive approach, including industry-specific masters from new-era institutions like NAMTECH. We suggest here the iPMP program, an educational initiative of ArcelorMittal and Nippon Steel for grooming future-ready professionals. Students can also consider this as a perfect alternate to MBA or alternate MTech.
Continuing further in the passage, we will begin with the broader impact of AI and LLM on jobs (including job displacement and job creation) and a description of the iPMP program at NAMTECH.
Let us begin.
Impact of AI and LLMs on Employment: Present and Future
- LinkedIn reported that around 55% of its members worldwide will experience change in their job execution and roles due to the phenomenal rise of AI and LLMs
- According to Goldman Sachs, AI and LLMs have the potential to disrupt around 30 crore jobs globally. AI integration in business workflows can lead to around 50% job displacement.
- AI and LLMs are phenomenal, and future demand courses in India will focus exclusively on these technologies.
- Prompt engineering, data fluency, AI literacy, critical thinking, and evaluation will be crucial skills in the future dominated by AI, LLMs, and other tech of Industry 4.0. Ethical considerations at future workplaces will include algorithmic bias and fairness, employee privacy, and inequality or inaccessibility.
- New-age job roles will include LLM Integration Specialists, AI Trainers, AI Content Strategists, LLM Researchers, AI Ethics Specialists, AI-powered customer Support, AI-aided journalists, and more.
- AI will generate around 4.7 million new jobs by 2027. LLMs like ChatGPT, Gemini and others will create new job roles. According to the World Economic Forum, the top five jobs in the future will be AI Model and Prompt Engineers, Interface and Interaction Designers, AI Content Creators, Data Curators and Trainers, and Ethics and Governance Specialists.
Every challenge is an opportunity. AI and LLM integration in business, education, and the economy requires a collaborative approach from organisations, government, and educational institutions. These technologies of Industry 4.0 will make our manufacturing sector smarter. Young graduates can leverage programs like iPMP at NAMTECH, a curated course and alternate to MTech or alternate to MBA and become future-ready with industry-specific masters.
Key Highlights of the International Professional Master’s Program at NAMTECH
Job Assurance Training
Guaranteed placement support for a secured future through an impressive portfolio of industry collaborations. Hands-on training helps students make a smooth transition from classroom to boardroom as skilled techno-managers.
Scholarship and Financial Support
NAMTECH offers lucrative scholarships and financial support for deserving students, with a 100% tuition fee waiver and up to 100% scholarship benefits, especially for women, to encourage their participation in the manufacturing sector and accessible education for all.
Global Immersion Program
The Global Immersion Program has been designed to broaden your perspectives and give you an immersive learning experience in an Industry 4.0 environment at leading institutions worldwide.
Extensive Industry Collaboration
NAMTECH has impressive industry partnerships with leading organisations from India and worldwide, including Micron, Festo, and many more. As leaders in their respective sectors, these partnerships provide unparalleled exposure and networking opportunities.
International Faculty
Learn from renowned faculty with hands-on experience in their respective fields of study. NAMTECH offers professors of practice who bring a wealth of academic knowledge and insights to groom techno-managers for the future of smart manufacturing.
Experiential Learning Programs
Experiential learning is a crucial part of the iPMP program’s curriculum for inculcating practical life skills and real-world applications.
The iPMP Program Details
- Course Name: International Professional Masters Program
- Duration: Residential 12 months program in 4 trimesters, each of 12 weeks
- Eligibility: BE/BTech (2019 or later) with minimum 65% marks in 10th, 12th, and Graduation
- Campus: NAMTECH India (Campus: IIT Gandhinagar) and TUM Asia, TUM Germany
- Commencement Date: 21st August 2024
- Final Application Deadline: 31st July 2024
The curriculum of the iPMP Program in Smart Manufacturing
Here are the subjects and modules you will study during this industry-specific master program and futuristic industry-academia collaboration to groom sustainable techno-managers for smart factories.
Trimester 1: Essentials of Advanced Manufacturing Education, Hydraulic Technology, PLC Programming, Industrial Internet of Things, Manufacturing Management, Pneumatic Technology, Servo/Stepper Systems & Smart Sensors, Industrial Robots, Data Visualisation with NODE RED Programming, Communication Skills and Team-Work Development
Trimester 2: Data Analytics, PLC Programming with HMI & Ethernet Communication, Software Coding (Python, NL and Lab View), Digital Twin in Manufacturing, Finance Management, Collaborative Robots, AI & ML in Manufacturing, Project Management, Advanced Machining (Additive and Subtractive using metals) and Product Design and Rapid Prototyping
Trimester 3: Digital Twin in Manufacturing (Tecnomatix Simulation), Cyber-Physical Systems (Smart Factory), Sustainability for Smart Manufacturing, Health, Safety & Environment, Digitalising Operation with MES, Cyber Security, Reliability & Quality for Engineers, and Operational Excellence
Trimester 4: Industry Internship and Capstone Project
Explore the smart manufacturing program and apply for NAMTECH admission 2024 now.
Reference Links
https://www.business-standard.com/world-news/iit-iim-graduates-act-as-big-talent-pool-singapore-pm-lee-hsien-loong-124051100061_1.html
https://www.business-standard.com/india-news/iits-turn-to-alumni-for-jobs-as-38-students-of-2024-batch-yet-to-be-placed-124052300331_1.html
https://www.thehindubusinessline.com/info-tech/ai-to-create-47-m-new-jobs-existing-it-workforce-of-46-m-need-to-upgrade-with-ai-skills/article67483475.ece
https://www.weforum.org/videos/large-language-models-are-taking-off-so-what-new-jobs-will-they-create/
