A recent NASSCOM report suggests that by 2020, 2 out of 3 millennials would like to take up a managerial job within 3 years of their joining and the core skill set required by the industry will change fast and newer skills like creative thinking, higher level problem solving, interpersonal skills, innovation, decision making will be in great demand. There is a need to Emphasise on skill-based education. YES Bank is exactly trying to play a role here with creating a data science community.
The Datathon provides a bridge between industry and academia, allowing a flow of intelligence and interest between the two, enabling universities to learn about using Cadence tools and build a network of other academic users of our products. The 6 Data Science/Machine Learning challenges hosted in partnership with IITs/BITS will lead up to YES Datathon 2019 to be hosted in June 2019.
There is a growing need for people from academia to be a part of the industry. It shall be mandatory for the graduates to have industry exposure for example Internships etc. While academia can argue that internships are already in place but in most cases, this model has failed miserably. Today, mostly it’s just a formality and for the industry, these interns are mostly restrained to clerical activities ranging from the filing of documents to set up jobs at day end. In rare case scenarios, they gain relevant practical knowledge and exposure that matters. A better idea is to bridge Technical knowledge with business knowledge. No technical project can be successful without a business case and vice-versa no project can be successful without analyzing the technical aspects. These kinds of well-timed exposure to the industry provide much-needed experience to the students which would help them shape their careers.
Also, given the rapid changes in the technology front, the bank has adopted a great strategy to keep pace with the trends. Not just this, YES BANK has invested massively on scalable solutions like Hadoop to leverage on commodity servers as opposed to specialized hardware results in quantum cost savings on the infrastructure alone which is required to analyze large data sets – and lay the foundation for a successful AI journey. Further, leverage and engage the data science community in setting up a unique ecosystem of leaders and learners to collaboratively co-create AI led innovations.
YES Bank also plans to use Datathon, to prominently meet the talent pool requirements. They plan to use its platform Datathon, to hire and train budding talent in the data science domain to ultimately create a 100 + team of data scientists, developers and coders as part of their YES TechTonic Initiative. This nationwide community of industry leaders, students and professionals is a first of its kind initiative to boost the conversation of data science in India. YES DATA community will further serve as a platform for constant knowledge sharing and crowdsourcing of new ideas and concepts on future technologies.
In short, It is nice to see both academia and industry working together to being in necessary synergies focused towards delivering quality graduates that can play an effective role in business for the future.