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🌐 Addressing the Global Semiconductor Talent Gap 🌐 The US is taking action to combat the semiconductor talent shortage with initiatives like the CHIPS Act, a move set to boost domestic production and lessen dependence on overseas suppliers. This legislation could reshape supply chains worldwide, heightening the competition for skilled professionals. Globally, nations are ramping up efforts to strengthen their semiconductor capabilities: - Education and Training: Expanding technical skill programs, especially for non-degree roles. - Collaborative Initiatives: Forming partnerships among governments, educational institutions, and industry leaders. - Incentives: Offering competitive salaries, benefits, and robust career development opportunities. - Global Collaboration: Sharing best practices and resources across borders. These collective endeavors are vital as the demand for semiconductors continues to surge. Delve deeper into this critical topic by checking out the full article below. #Semiconductor #SemiconductorIndustry #ChipManufacturing #SemiconductorEngineering #TechInnovation #Electronics #ChipDesign #TechTalent #Microelectronics #SemiconductorJobs #TechCareers #Engineering #SemiconductorManufacturing

The global semiconductor shortage is a critical issue, with a projected need for over one million skilled workers by 2030. The US is addressing this through the CHIPS Act, investing in workforce development, especially in technician roles. However, the long-term labor shortage in the semiconductor industry remains a challenge, requiring multifaceted solutions and global collaboration. Read more about how the US plans to close the talent gap in the semiconductor sector here. #Semiconductor #TalentGap #CHIPSAct #TechNews

Reflecting on a Decade of Semiconductor Progress as We Look to 2024 🌟 As the year draws to a close, it's more important than ever to maintain an optimistic outlook. Despite recent uncertainties, looking back over the past decade reveals significant achievements, especially in the semiconductor industry. The advancements in semiconductor technology have been nothing short of revolutionary, powering nearly all technological milestones we've celebrated recently. As we stand at the cusp of 2024, it's clear that the health of the semiconductor industry is crucial for continued innovation. However, challenges lie ahead. We're facing a global talent shortage and an ageing workforce, with projections showing a significant gap between available roles and qualified graduates. Addressing this is critical to maintaining our pace of innovation. Moreover, diversifying the production of advanced semiconductors is vital. Currently, a staggering 92% of the most advanced chips are produced by just one company. To ensure free-flowing innovation globally, we need broad collaboration across institutions, nations, and political spheres. Collaboration has already led to significant legislation and partnerships, such as the American and European Chips Acts and Purdue University's Centre for Secure Microelectronics Ecosystem. These efforts are not just about technology, they're about creating jobs, boosting economies, and improving lives worldwide. We're proud to be part of this industry and excited about what the future holds. If you're looking to collaborate or stay ahead of the hiring curve, get in touch with us. Together, we can drive the next decade of semiconductor innovation. 📧: [email protected] Source: https://lnkd.in/edwnkh43 Article author: Jordan Lorence #SemiconductorIndustry #Innovation #FutureTech #Collaboration

The US currently produces less than 10% of the world's #semiconductor chips but plans to increase its share to 20% by the end of the decade. Yet, we need more specialized workers as we have a projected deficit of 23,000 chip designers by 2030. As competition for #talent in #tech and #automotive industries continues, companies look to address the #skillsgap in the semiconductor industry. Here are some of the solutions presented: ☑ University partnerships to build a pipeline of skilled graduates ☑ Bringing value to employees via remote or hybrid positions  ☑ Investing in training & education to capitalize on federal funding https://lnkd.in/eg68ieD8

The global semiconductor industry is facing a serious talent shortage, with over one million skilled workers needed by 2030. This issue is not just limited to the US, but is a global challenge impacting key players worldwide. The US government is taking steps to address this issue through the CHIPS Act, investing in workforce development initiatives to build a skilled talent pipeline. However, the industry is likely to continue facing labor shortages in the long term, highlighting the need for collaborative solutions. #SemiconductorIndustry #TalentShortage #CHIPSAct #WorkforceDevelopment #AIinTech

Global semiconductor shortage: How the US plans to close the talent gap: The semiconductor industry, which is a cornerstone of modern technology and economic prosperity, has been dealing with a serious labour shortage for some time. The skills shortage appears to be worsening, with more than one million additional skilled workers required by 2030 to meet demand in the semiconductor industry, according to Deloitte. This pervasive issue extends... Read more » The post Global semiconductor shortage: How the US plans to close the talent gap appeared first on AI News. http://dlvr.it/T938fc

Behind the A.I. Boom, the U.S. Semiconductor Sector Is Facing a Looming Talent Crisis The U.S. semiconductor sector could see a labor shortage of up to 146,000 workers by 2029, McKinsey found. The rapid expansion of the U.S. semiconductor industry could potentially be stifled by a looming talent crisis. A new McKinsey study found there could be a potential shortage of between 59,000 and 146,000 workers—technicians and engineers—in the domestic semiconductor sector by 2029. Semiconductors, also known as chips and integrated circuits, power everything from smartphones, computers, microwaves and cars all the way to military weapons and A.I. applications. The labor shortage could make it harder for suppliers to keep up with the growing demand for chips, especially as A.I. continues to boom. The U.S. CHIPS and Science Act provides nearly $53 billion to spur the development of the chip sector on American soil. Since President Biden signed the bill in August 2022, major chip manufacturers like TSMC, Intel, and Samsung (SSNLF) have received billions in federal investments to build new factories and expand their operations across the U.S.—funds slated to create over 115,000 manufacturing and construction jobs. But if they don’t have enough technicians and engineers, factories won’t be able to run at their full capacity. In turn, manufacturers will be less productive, which could raise the price of consumer devices. “The world’s semiconductor leaders are betting on the U.S. becoming a manufacturing hub that has productivity similar to their home geographies,” On top of that, the inability to close the gap could make it harder for the U.S. to compete in the global semiconductor industry. The U.S. imports the majority of its chips from Taiwan, and as tensions between China and the island escalate, the production and shipment of chips to the U.S. could potentially come to a standstill. Academic institutions, in collaboration with public and private agencies, have made some efforts to expand America’s semiconductor workforce. In the meantime, a range of actions chip makers can take to staff up. In the short term, they could hire workers from different industries with transferable skills and target outreach to immigrant communities and veterans to increase awareness of chip-related roles, according to the study. In the long term, manufacturers could invest in geographic expansion efforts, like broadening bus networks to widen the labor pool and building up their certification and apprenticeship programs. “It’s just going to take some time,” Wiseman, McKinsey’s semiconductor lead, said. “The industry at large needs to do a bit of a better job in speaking to folks in the right age range and their influencers to be able to figure out how to get folks excited about this path.”

The semiconductor industry, vital for technology and economic growth, is facing a worsening global skilled labor shortage, with a need for over one million additional workers by 2030, as reported by Deloitte. Efforts to expand semiconductor capacities, partly due to increased demand during the pandemic, have been hampered by this shortage. With under 100,000 electrical engineering and computer science graduates in the US annually, and countries like Taiwan, South Korea, China, Japan, and Europe also struggling with deficits—the situation is dire. China's gap is particularly acute, needing over 300,000 more workers. Offshoring production has eroded local manufacturing expertise, and poor awareness of semiconductor careers exacerbates the skills gap. The US has enacted the CHIPS Act to bolster the domestic semiconductor workforce, directing substantial funds towards skill development, including for jobs not requiring a bachelor's degree. The Act supports creating a talent pipeline and a workforce partner alliance, with $5 billion earmarked for a new National Semiconductor Technology Center

#GlobalFoundries #races to find #semiconductor #talent as #demand for #chips #soars https://lnkd.in/gvqXnfBd 🔹 #KEY #POINTS: ▪︎The semiconductor industry is recruiting workers in a tight labor market as the competition for talent ramps up and funding from the CHIPS and Science Act continues to be dispersed. ▪︎It is also staring down a projected shortfall of as much as one million workers in the broader U.S. economy by 2030. ▪︎GlobalFoundries, the third-largest chipmaker globally, is casting a wide net to recruit talent. ▪︎The company has sought out veteran candidates, along with employees from workforce reentry programs and an initiative for women in construction. ⤵️ ▪️ The semiconductor industry is recruiting workers in a tight labor market as the competition for talent ramps up and funding from the CHIPS and Science Act designed to spur domestic production continues to be dispersed. It is also staring down a projected shortfall of as much as one million workers in the broader U.S. economy by 2030 as generative artificial intelligence adds fuel to the in-demand sector. ▪️ The U.S. chips industry is expected face a shortage of 67,000 technicians, computer scientists and engineers by 2030, while the broader U.S. economy is set to have a gap of 1.4 million such workers, according to a 2023 study from the Semiconductor Industry Association. ▪️ A separate study from #Deloitte found the talent crunch in the semiconductor space could get even worse due to the global economic environment and ongoing supply chain issues. ▪️GlobalFoundries, the third-largest #chipmaker #globally (https://lnkd.in/g_ika6y9), is casting a wide net to recruit talent. The company has sought out veteran candidates, along with candidates from its own workforce reentry program and an initiative for women in construction. The company creates chips for everyday products from electronics and phones to autos, in addition to components for space and defense. Major #clients include #GeneralMotors  and #LockheedMartin. | by— Kate Rogers | FRI, JUL 5 2024 #cnbc cnbc.com #Details: ⤵️ https://lnkd.in/gvqXnfBd

India’s burgeoning semiconductor sector is witnessing an unprecedented surge in demand for skilled talent, driven by new investments and the government's ambitious plan to transform the country into a major chip manufacturing hub. Recently, the government approved $15 billion worth of investments into the sector, including significant contributions from the Tata Group. ü Unprecedented Demand for Talent: The sector's demand for talent has reached an all-time high, spurred by the need to build infrastructure, industrial parks, testing systems, and research and development facilities. The semiconductor industry is expected to see a substantial increase in roles related to semiconductor chip design, fabrication, and assembly, as well as testing, marking, and packaging facilities over the next few years. ü Scarcity of Skilled Professionals: There is a notable scarcity of talent in semiconductor manufacturing and Outsourced Semiconductor Assembly and Test (OSAT). The primary demand is for professionals with 4 to 12 years of experience. This talent shortage is further exacerbated as the industry continues to expand at a breathtaking pace, driven by the rapid rise in demand for semiconductors globally. ü Future Growth and Skilling Initiatives: The next chapter of India's semiconductor growth is poised to focus heavily on advanced skilling and job creation. As the industry evolves, there will be an increased emphasis on developing a highly skilled workforce capable of meeting the sophisticated demands of semiconductor manufacturing and innovation. India's semiconductor sector is at a critical juncture, with significant investments and government support paving the way for transformative growth. However, addressing the acute shortage of skilled professionals is crucial to sustaining this momentum. Strategic initiatives aimed at advanced skilling and targeted hiring will be essential to ensure that the burgeoning demand for semiconductors is met, fostering the country’s emergence as a global semiconductor manufacturing hub. There's likely to be a shortage of 3,00,000 by 2027!