I m new to IBM Rational Functional Tester. I wanted to know what is the career scope and future aspects of this tool. Is it used widely in the current industry?
No, I am afraid IBM Rational functional tester is close to end of life. If you want to leverage the tool for career prospects, I suspect your best bet is to gain experience with GUI automation and learn a couple of other tools - like selenium (free) or TestComplete (free 30 day trial), etc, then position yourself as an automation-generalist.
This is, of course, my opinion, but it is an informed one.