Throughout the years in the US, we are the audience to all the sudden and increasing demand for experts and professionals in the realm of artificial intelligence and blockchain technology. However, despite the high demand for individuals with AI and blockchain expertise, the US workforce has struggled enough to fulfill the requirements of skilled professionals.
This insufficiency was due to several core variables like the limited specialized training programs, inability to cope with unprecedented technological advancements, and talent competition among the eligible masses. These factors have a significant role in the skills gap differences, forming hurdles for businesses wanting to scale and contribute to innovation.
Fortunately, the EB-3 visa program came as a savior by addressing this prevailing shortage through startup campaigns and firms volunteering to recruit experts on a global scale. Thus, we shall now delve into the US’s existing dynamic of AI and blockchain talent shortages and how the emergence of EB-3 visa bridges this gap via a few instances where firms are leveraging the immigration route to drive innovation.
The global AI and blockchain talent deficit
The swift advancement of AI and blockchain technology generated an extraordinary demand for skilled professionals in the field. However, despite the high industrial demand, the fulfillment of the experts was unmatched resulting in a widening the talent gap that became a stressful challenge for innovation and businesses.
Rising demand for AI and blockchain experts
If you stay updated with the current technology news, you might be aware of the projection made by the World Economic Forum for 2025. They predict that by this year, 2025, there’s a high likelihood of about 97 million new job prospects in the AI and automation sector itself. This high number illustrates the pressing requirement for expert professionals in these areas.
What’s more, a LinkedIn report also numbers a surprising 74% annual spike in AI-based job openings despite the known reality of an insufficient supply of qualified talents for the position.
Similar is the scenario with blockchain technology. An analysis conducted not long ago demonstrates a 70% demand hike in the roles of professionals like competent contract auditors and blockchain developers as a result of major enterprises like JPMorgan and Walmart’s decision to integrate with blockchain solutions.
Hence, as long as these industries adopt and integrate these advanced technologies into their operations, the talent and skill gap is bound to pose a critical hindrance to prompt innovation and growth.
Labor statistics depicting the talent shortage
|
Talent category |
Key statistics |
|---|---|
|
AI specialists |
A survey by Deloitte states there are only about 22,000 AI specialists globally. A Red Hat report highlights that about 72% of prominent IT leaders agree on the need for immediate attention to bridging the skill gaps. |
|
Blockchain developers |
Exponential demand for blockchain professionals.A deficit of eligible talents led to firms not being able to fill the job openings. |
The role of EB-3 visa in narrowing the talent gap
The requirement for AI and blockchain experts will continue to rise as more and more industries and firms are exploring innovative ways to attract, retain, and recruit talents with high expertise. Amidst all these challenges, the EB-3 visa program proved to be quite a practical solution, empowering businesses to hire skilled individuals from global platforms to overcome the workforce deficit.
So, what is EB-3 visa?
The EB-3 visa is essentially an employment-related immigrant visa category specifically designed for professionals, skilled workers, and other eligible talents. This visa category enables foreign workers to become permanent US residents as they would help resolve the labor deficit situation in critical industries.
Perks of the EB-3 visa
- Accessibility to a global and diverse talent pool: The EB-3 visa empowers the US corporations to hire expert professionals from global tech hubs like Asia and Eastern Europe.
- Prolonged staffing solutions: In comparison to temporary work visas, this EB-3 visa is a permanent solution to resolve residency issues, promising stability to workers and employers alike.
- Inflated diversity and innovation: Recruiting global talents builds up diversity, resulting in fresh perspectives and innovative creations within the corporations.
Real-world examples of startups leveraging international talent
Now, let’s have a look at a few instances where startups in the US are leveraging the global talent accessibility to the best potential.
Crypto startups recruiting from emerging tech hubs
Several crypto startups in the US are known to be turning to talent hubs like Asia and Eastern Europe to recruit top-tier talents in the field. Additionally, other nations like Romania, India, Poland, and Ukraine also offer a platform of a diverse tech talent pool at competitive costs.
For example:
- An Indian crypto exchange: An Indian crypto exchange credited the EB-3 visa to recruit professional blockchain software engineers, hereby driving their product development timelines way ahead.
- A Ukrainian blockchain startup: A Kyiv-based blockchain startup recruited a good number of skilled blockchain developers via the EB-3 visa program, enabling themselves to create decentralized platforms for clients around the world and tackling local skill gaps and talent shortages simultaneously.
Voices from the industry: CEOs on immigration’s role
Prominent industry leaders have continually emphasized reforming immigration roles as it is critical for the quality sustenance of Research and Development (R&D) in several cutting-edge fields.
Oracle’s Safra Catz highlights the necessary shifts in immigration policy that could strengthen the US’s economic security and also foster job availability and growth within the technology sector.
Microsoft’s Steve Ballmer stresses the reformation of the comprehensive immigration policies as essential to attracting “the best, the brightest, and the most ambitious minds from around the world” to push innovation.
The future of AI, blockchain, and global talent
US companies can benefit significantly in the long term with the proper utilization of AI and blockchain innovation with the immigration policy. While established corporations and startups are finding it hard to recruit qualified professionals for job openings, programs like the EB-3 visa bring forth a practical solution by allowing easy access to a worldwide talent pool.
By adopting this approach, corporations can easily and quickly fill vital roles, improve innovation, and also maintain their business’s competitive edge in this evolving technological realm.
So, in 2025 and beyond, US policymakers need to address the essential significance of immigration reforms supporting the intensified demand for high-skilled workers.
