The industry must address skills gaps by upskilling existing talent, developing specific pipeline segments, and identifying adjacent skill sets that can be quickly transitioned into semiconductor design and advanced manufacturing roles. (Source: Image by RR)

Generative AI is Accelerating Demand for Skilled Workers in Chip Production

The global semiconductor industry is currently grappling with a significant talent shortage, as highlighted in a recent report by Deloitte. The industry is projected to need an additional one million skilled workers by 2030, translating to over 100,000 new hires each year. This demand for talent is underscored by the forecast of the semiconductor market reaching $1 trillion in revenue by 2030. As noted in venturebeat.com, the industry is facing multiple challenges, including an aging workforce, low appeal compared to other tech sectors, and increasing demands for advanced skills driven by technologies like Generative AI (GenAI). These factors make attracting and retaining skilled workers particularly difficult in a competitive job market.

Deloitte’s report indicates that as the semiconductor industry evolves, the need for advanced skills, particularly in GenAI, is becoming critical. Generative AI has the potential to transform operations across various sectors, including chip design and manufacturing. While GenAI can alleviate some talent shortages by streamlining routine tasks, there remains a scarcity of professionals with the necessary skill set. To compete for talent, semiconductor companies may need to offer more than just competitive salaries; they should provide unique benefits and create a culture that fosters innovation and inclusion. Currently, the semiconductor workforce is not only aging but also lacks diversity, with only one-third of U.S. employees identifying as female and less than 6% as Black or African American.

The semiconductor talent crisis is not limited to the U.S. The global demand for skilled workers is growing, with countries like India and those in the European Union facing potential deficits of hundreds of thousands of professionals in the coming years. The U.S. alone is projected to require over 100,000 new jobs in semiconductor manufacturing and design by 2030, with significant portions of these roles likely going unfilled due to a lack of qualified candidates. Moreover, foreign graduates in semiconductor-related fields often do not remain in the U.S. post-graduation, exacerbating the talent gap. Governments and industries are beginning to recognize the urgency of addressing these workforce challenges, particularly as semiconductor legislation in both the U.S. and Europe ties funding to workforce development commitments.

Deloitte emphasizes the need for semiconductor companies to adopt strategic workforce planning and development to address these challenges effectively. Companies should focus on building comprehensive talent pipelines in collaboration with educational institutions and community organizations, prioritizing diversity and inclusion initiatives. Additionally, enhancing brand appeal and offering clear career progression paths can attract new talent, particularly among younger graduates seeking stability and flexibility. With the right technology enablement and data insights, HR organizations can better assess and develop the workforce needed to sustain growth and innovation in the semiconductor sector.

read more at venturebeat.com