When it comes to emerging technologies such as Blockchain, AI and ML, the increasing adoption of such technologies lead to an intensification of the competition with companies trying to vie for the same IT talents in the local market. In the year 2019, Blockchain Developers and Machine Learning Engineers are among highest paying jobs in the IT industry in the US. As a result, it’s difficult to recruit such talents and also very expensive to retain them.
Also, in the US alone, according to the U.S. Bureau of Labor Statistics, it is projected that by 2020, there will be 1.4 million computer science jobs and only 400,000 computer science grads who have the necessary skills.
Shortage of IT talents
The problem of skill gap is significant in the new world of emerging technologies. A study from Stripe and Harris Poll found that many companies say that lack of access to software developer talent is a threat to their business success.
As a solution, many organizations are overcoming such skill shortage challenge by re-training their in-house team on the new technologies.
This means companies may compromise their in-house team capacity who currently working on existing projects to spend time on learning the new technologies.
Furthermore, the training programs are not necessarily cheap and companies might need to bear those expenses for their employees who will return and take on the projects later.
Offshore software outsourcing is the solution
Most of the times, offshore software outsourcing vendors already have a large pool of IT talents which enable companies to quickly have access to the skill-set and expertise needed in emerging technologies. Here, outsourcing solves many problems companies might encounter when trying to re-train or up-skill their in-house employees. 
With offshore software development outsourcing, companies may find that:
- Most of the time, outsourcing offers a lower overall development costs than hiring local talents. This allows company to effectively control their budget.
- Outsourcing offering the right mix of technical expertise and industry knowledge, which could be difficult for in-house team to attain if they’ve never worked on project that is similar before.
- Quick access to team of developers with capacity that can be easily scaled up or down according to demand; No long-term salary payment;
- And more
Talents in emerging technologies are scarce and the demand for these resources doesn’t seem to slow down soon.
Thus, outsourcing is a viable option to make the company’s development plan a reality, let’s examine a number of emerging technologies as follow:
Blockchain Development Outsourcing
According to the new IDC Spending Guide report, it is predicted that world-wide spending on blockchain will reach $15.9 billion in 2023 which translates into a compound growth rate of 60.2% in the five years period from 2018-2023. In particular, spending for blockchain development in 2019 is expected to be $2.7 billion which is a significant increase of 80% over 2018. And speaking of business impact, blockchain is thought to have the greatest impact on the finance industry. Blockchain provides many benefits for companies across industries, enabling a secure and efficient transfer of data that is quick and inexpensive.
With a strong demand for blockchain development, compounding with shortage of local IT talent and a prominent skill gap in blockchain development, many companies might end up competing to attract the same IT talents. To solve the problem of hiring and retaining skilled blockchain developers, many companies are turning to outsourcing to quickly help them fill in the skill gap.
Blockchain development services are introduced as an answer to help companies extend their in-house development capacity. Outsourcing to experienced development team allow companies to quickly leverage the offshore blockchain team expertise to speed-up the critical time-to-market staying ahead of the competition, while also avoid the potential mistakes of hiring the wrong personnel.
The drawback of blockchain development outsourcing includes communication issues, product quality, and others. It’s important that companies take time to conduct thorough research to hire the right outsourcing partner.
Blockchain is an emerging technology with the potential to transform and disrupt many business sectors.
Moreover, blockchain can be adopted by organizations that are small to medium business and not limited to just large corporate.
If your company is not in the IT industry or the local competition to attract blockchain talent is too high, outsourcing is a viable option helping your company to continue innovating and gain a competitive advantage in the new digital economy.
Artificial Intelligence (AI)
Artificial Intelligence is here to stay. It seems like AI is everywhere these days and it’s nearly impossible for us human to read the newspaper and not hear about the dramatic impact this innovative technologies bring to business.
AI is no longer only exclusively available to large corporate like Facebook, Amazon, Netflix, even small to medium business organizations can now leverage AI development to optimize their business processes in a cost-effective way. Some examples include: AI powered chatbot, Recommendation system, Image processing, Sentiment analysis, etc. all of which can help businesses to accelerate their growth and stay ahead as a market leader.
AI provides tremendous benefits that businesses can take advantage of, provided that they have a technical team of AI and Machine Learning engineers to process and make sense out of the vast amount of data collected.
Again, for businesses that are not in the tech industry or have difficulty hiring qualified AI and ML engineers in the local market, TP&P Technology provides AI & ML consulting and development services to our clients, enable them to gain a competitive edge over their competitors.
A technology partner with proven track record and experience in the AI development and deployment process can help companies overcome various potential AI hurdles that are very likely to occur.
Also, the right technology partner will be able to provide recommendation on data aggregation and management which is a prerequisite for an AI development project.
Outsourcing such an advanced technology like AI to an external team that is knowledgeable will help your company stay ahead of the field, while other competitors still trying to tackle the learning curve in-house.
DevOps Consulting
DevOps is among the hottest topics in the IT landscape in 2019, numerous companies have realized the opportunities that DevOps can provide and adopt it for to transform and optimize their development process. Yet, many organizations are still hesitant to adopt DevOps as there are potential challenges and difficulties in implementing DevOps.
Read more about: benefits of adopting DevOps practice
To assist with implementations, companies are starting to hire DevOps consultants to ensure a smooth transition, preparing in advance to address any potential issues that may arise.
By employing the services provided by DevOps consulting company, your team will be guided throughout the entire process of DevOps implementation overcoming any potential disruptions which may occur, avoiding any rushing, and making the whole process organized, controlled and paced gradually.
The DevOps consulting company will offer their clients the much needed expertise and experience to help clients reap the maximum benefits that DevOps can bring. DevOps consulting services is certainly not cheap but it is definitely a cost-effective method to make the transition a reality.
Furthermore, with years of experience implementing DevOps for different organizations or working on project similar to yours, DevOps consultants understand the specific requirements of your businesses and can offer custom solutions meeting requirements, allowing for an better and more efficient collaboration of development and operation team.
It’s worth noting that when employing DevOps consultancy services, companies should look for experienced DevOps consultants to ensure the right candidate is chosen.
In particular, technical expertise, team management, communications and problem-solving skills should be considered for an effective DevOps hiring strategy.
Side-notes
TP&P Technology - a leading software development company in Vietnam, with solid expertise in emerging technologies and proven vetting process to bringing only the brightest talents, can help meeting your emerging technology needs.
Contact us today to talk to one of our specialists about your software development requirements.
