With our several blogs on data science, AI/ML & deep learning, we seem to have made it pretty obvious that the demand for data science skills is pretty much off the charts within this industry. Several reports have even shown and proved the fact that data science skills are something that the job market worldwide desperately needs.
However, in hindsight, if you think of it ever since people got to know about the demand and the glamorous work life in the field of data science, everyone rushed towards it. A profession in data science is immediately considered being the best profession one could be in in this day and age. Big companies and industry giants were willing to bear the highest of CTC for a person even with the minimum of skills in this field however this is now beginning to change over time.
The demands are lately but surely being met and the inflation between the supply and demand in the industry seems to be fading away slowly but surely. While many countries in the world are meeting their demands of a data scientist within the industry, many countries are still lacking it anyways. So, we have compiled a list of the top 6 countries that are facing a major crisis of candidates skilled in data science, AI/ML, and deep learning.
Top 6 Countries with Growing Shortage of Data Science, AI/ML, and Deep Learning Talent
Co-authored by Parinita Gupta
6. Germany
The data science job market in Germany has shown two main developments in the past three years. It shifted from descriptive analytics to programming and then to cloud engineering.
Germany has got an aging population. Since the 1970s, Germany’s birth rate has declined quite dramatically. At the same time, average life expectancy has been going up. Without immigration, the potential number of workers in Germany would decline by 40% by 2060.
Read Winter 2021 Application Deadlines, Costs, and Application Process for Masters in Germany.
Like other first-world countries, Germany also faces a serious shortage of data science talent. Hence, Germany makes it to the list of the top 6 countries facing a shortage of data science, AI/Ml, and deep learning talent. According to the latest research estimates, by 2030, Germany could face a shortage of 3 million skilled workers, with a considerable number of them being IT professionals.
Germany is one of the countries where education comes at almost no cost but somehow the living expenses take almost all of it. Or maybe a little less the line if fine. Regardless, Germany relies highly on technology even with its little bit of population and the companies are willing to invest a fortune for someone to harvest the data available to them. So, if you are aiming for higher studies and jobs in the field of data science, AI/ML & deep learning, look no beyond Germany.
Data science and AI/ML salaries in Germany range from USD 60,000 – 80,000 per annum. Read best universities for masters in data science and AI/ML in Germany.
5. Ireland
The skills shortage faced by Ireland when it comes to data science is not a joke for them. It’s not even the next best glamorous job or whatever. For them, it is a legitimate necessity at this point. The Irish have a ton of data with no one to extract the value out of it. Let’s say that the need is massive and the country might just come crashing down if they do not find good data scientists soon.
Ireland has got a tremendous advantage as well – Tech giants like Apple, Google, Amazon, Facebook, Accenture, IBM, LinkedIn, Twitter, etc. have got their EMEA headquarters in Dublin. Additionally, there are more than 17,000 startups in Ireland. Data scientist salaries in Ireland range from USD 52,000 – 70,000 per year.
The companies, huge corporate chains, the government, and even the small firms are more than willing to invest good money to hire themselves a good data scientist. The country is well of being one of the first world countries but they are simply lacking when it comes to this and who wouldn’t want to work amongst Irish on a job which pays off well?
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4. Finland
Although it’s on the fringe of Europe geographically, Finland has for years been at the center of the continent’s tech industry.
Yet, for some miraculous reason the country appears to face a major shortage of individuals skilled in Data science, AI/ML, deep learning and even engineers and IT professionals. Looks like when it comes to IT and computers, the workforce of the country simply lags behind. However, despite of the lack of IT professionals, the country itself is one of the very well-developed countries and perfect for individuals to start their career at.
Some of the qualified data science professionals can be really used by the country as it needs more than 25,000 such individuals and the pay scale for data science professionals is simply more than handsome like in any other country desperate for data science skills. In Finland, annual salaries for IT, Big Data & AI/ML professionals range from USD 60,000 – 110,000.
Finland is also a country with one of the best education systems out there in the whole world. So, how about pursuing a specialized degree in data science or machine learning in Finland? Read more about the education system in Finland.
3. UK
When it comes to individuals skilled with data science, AI/ML, and deep learning talent, even the royals are facing a crisis. According to various reports, it suggests that the UK is facing an ‘explosive demand’ for individuals with data science talent and that they must change their education system to keep up with the demands. In the United Kingdom, demands for data scientists and engineers have grown three folds over few years.
However, it has also been noticed that companies do not only require data science skills. Rather it’s more of a mixed talent could be data science skills paired with designing etc. This means that more hybrid job roles are being created for which a person must be skilled at other stuff apart from just data science. Regardless, the Royals are in need of data science talent either way.
AI and big data are together one of the four focuses of the UK Government’s current industrial strategy, which aims to “put the UK at the forefront of the artificial intelligence and data revolution”. State funding has been made available for AI projects, such as three consortia developing autonomous vehicles, and £45 million is to be allocated for 200 extra PhDs in AI and related fields.
As per the report produced by Roland Berger, a global consulting firm, and France Digitale, an association that represents venture capitalists and entrepreneurs, AI startups in the UK have raised $1.241 billion in between 2014 – 2019. In Europe, the U.K. still sets the R&D standard with 623 AI-related patents.
The UK is one of the most developed countries out there with salary packages much better than in any other country, and even better for individuals with skills in Data Science. Not just this. Individuals skilled in data science have an opportunity in every work sector in the UK, from banking to transportation to shopping and even health care, F&B, and R&D. Data science talent is required literally everywhere.
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2. Sweden
This is the land of Spotify and many tech-driven firms. Sweden is one of the countries where there’s a large presence of multinational IT firms and start-up tech companies with constant work in the field of research and development. With such a focus on R&D, it has several technology parks as well and all of this calls for a huge number of qualified IT professionals and data scientists throughout the country.
The major companies in the field of data science in Sweden are vert well aware of the importance for individuals skilled in data science, AI/ML and deep learning. As per the reports, Sweden continually keeps facing a shortage of IT and Data science professionals and this in the past led to a shortage of more than 30 thousand IT and practitioners in 2012 and the numbers are even higher now as the supply to their demands are never met. Rather the inflation keeps increasing each passing minute.
As the Swedish customers are also gaining awareness and maturity in the IT and tech products or associated products and services, demands for the individuals skilled in same are very much of crucial importance here. Reports also suggest that by 2035 Sweden is going to have to face a major shortage of individuals skilled in IT and Engineering fields at both junior and senior levels of the company hierarchy. Annual salaries for data scientists in Sweden range from USD 48,000 – 95,000.
Overall, Sweden is a highly modern first-world country that could really use and is indeed in desperate need of data science, AI/ML, and deep learning talent. Read more about studying Masters in Sweden.
1. France
France’s aggressive push to develop its AI ecosystem seems to be paying dividends as the number of startups continues to soar. In 2019, there were 432 AI-related startups in France, up from 312 last year and 180 back in 2016. AI is one of the critical technologies that the French government identified several years ago as essential for boosting the country’s economy.
According to the recent reports, it seems to appear that France is facing a major shortage of candidates when it comes to IT professionals and that includes professionals with skills in data science, AI/ ML, and deep learning as well. The demand is also expected to persistently rise in the upcoming years due to the constant use of Information technology in every aspect, especially by small and medium-sized organizations and firms. Also, as per the reports, more than 68% of the major companies in France are facing difficulties in finding candidates that best fit their job role and requirements.
Moreover, not many students in France are opting in for IT related courses which further indicates that the country’s needs for data science individuals are going to keep rising and the re-employment of old employees is also not possible due to the rapid development in the field. The French industry’s demands are constantly rising whereas the supplies are rapidly decreasing, and this calls the need for international students to step and grab the opportunity.
France with its low costs of living and high per capita rate of data science open positions is one of the best countries to begin your career at. Several major tech companies like IBM, Amazon, Google, etc. have offices in France with an ample number of opportunities and future for individuals skilled in data science and AI/ML.
The country offers an average salary of USD 55,000 – 90,000 to individuals employed in the field of data science and AI/ML. Read more about studying data science and analytics in France – top universities, job market, and salaries.
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About Parinita Gupta
Parinita is a full-time banking professional. Additionally, she is also a passionate blogger and digital marketer.
She mostly writes about the Banking & Finance, Technology, and FinTech sector. But, she also enjoys writing on other topics as well. You can follow her on Twitter.
References: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15.