Why Israel Government is Keen on Paying to Train AI Professionals
Despite the war for talent, even countries like Israel have emerged to be a leading player in artificial intelligence.
Tel Aviv was named as the emerging AI hub according to the magazine “Business Facilities’ 15th Annual Rankings Report.” Also, the country finished its sixth in the Business Facilities’ global ranking for AI in comparison with China, US, with the UK being at the topmost. Based on the same report, Tel Aviv finished the seventh for the emerging AI hub category just behind San Francisco, Beijing, Shanghai, New York, Toronto, and London.
Given the size of the country even if AI was placed in the top ten list it would still be impressive.
The present scenario…
• Currently, the government of Israel is looking forward to developing a strategy that will make the country a leader in AI.
• According to a new program by Israel Innovation Authority, they’re planning to pay USD 570,000 a year for companies only to develop their advanced training programs. To meet the demand in AI, the government is willing to even reimburse companies who have started implementing artificial intelligence.
What’s the new initiative all about - Israel Innovation Authority (IIA)?
The IIA is in search of four to five companies or even consortiums to sponsor and collaborate in training their employees that are under the backing of IIA. It is said that the accepted proposals will receive a backing up of approximately two-thirds of the costing or up to USD 570,000 which is around NIS 2 million per year over three years.
This initiative will be targeting both startups as well as large multi-national companies (MNCs). The program will majorly focus on people who are working at the forefront of the company and those with knowledge in the new-age technologies.
The tertiary education institutions simply cannot keep up with the demand for trained AI specialists. "Almost every company today needs AI capabilities,” says Naomi Krieger Carmy, head of IIA's societal challenges division.
Today, there is an urgent need for companies to adapt to new-age technology – artificial intelligence. And for every company that is looking for a successful business, it needs to understand they need AI capabilities. Similarly, IIA is looking forward to developing the same kind of strategy that will significantly focus on topics like robotics, bio convergence technology, and quantum computing.
Every two years, there’s a new hot technology that keeps emerging. For workers who have not been keeping up with the changes are likely to lose their present value. Companies not being able to catch up, universities are struggling to keep pace with the demands for updated curriculum in artificial technologies, a lot of chaos is happening with a severe shortage of AI professionals in this booming industry.
Tech giants like Intel, Google, Microsoft, and Apple are already using their in-house technology training programs.
There is a shortage of AI talent in almost every company, however, big companies are trying the best they can to solve the AI problems. Coming up with a solution is not a cherry on a cake. Globally, there are fewer than 10,000 people that actually have relevant skills good enough to tackle serious artificial intelligence problems.
Based on a survey by IIA, there is a current shortage of nearly 2000 AI specialists in Israel itself.
What we’re seeing is the holocaust of jobs which is necessary to run the society today. Most people are yet to realize the perils of not adopting to the new-age technologies that will rule the technology world. Most people were still under the illusion that the talent shortage will not be alleviated for years, but here we are. We’re in a current state where the demand still outweighs the supply.