What does future hold for a career in AI?
Artificial Intelligence, or as it is popularly called by its epithets AI, has growing enormously. In fact, the present time is being called as AI revolution. Reason? Its potential to make things better. It has found applications in almost every sphere of our life and industry. Industry leaders are optimistic that AI will grow bigger in the companies. A few reports, including one from Report buyer, projects that it will grow to $5.05 billion by 2020, translating to a CAGR of 53.65 percent.
Nearly every industry sector has been impacted from AI, ranging from healthcare and banking to automotive and media. All most every business model is now adapting to bring AI so that it can benefit from it.
AI is still in its nascent stage, however it faces lack of talent. Although it is well-known that there’s shortage of talent, industry progresses at a much faster pace. Primarily because of the reason that it has been extremely advantageous for companies. According to a report from Tencent, Chinese tech giant, there are about 300,000 worldwide. This makes AI professionals one of the most sought after professionals in the world. For those who are already in the field, lack of talent is a boon, as it provides an opportunity for them to grow. Hence, AI professionals are taking up certifications to further excel.
In simple words, there’s huge demand for people skilled in AI. However, there’s dearth of people with the required skills. So for people looking to get into AI, this is a good time to get into it. Here is the kicker: By 2022, there will be total 58 millions created by artificial intelligence alone. Contrary to the popular belief that AI will displace jobs, it will create more jobs. The source for this information is World Economic Forum’s Report: The Future of work.
Artificial Intelligence is huge and it is not limited to one role, as is the popular belief. There are several roles which entirely make the artificial intelligence landscape. According to Kdnuggets, a popular community for data science and machine learning experts, the following are some of the prominent roles for which companies are hiring in AI:
Data Engineer: This person takes care that data is accessible to people who need it.
A company can have multiple decision makers and for them it is necessary to have data. Data Engineers build infrastructure and everything related so that data is available to every decision maker.
The average salary of Data Engineer is $137, 776, according to CIO.
Artificial Intelligence Engineer: This is arguably the most popular role in artificial intelligence. It is very frequently associated as the only role in AI,which is definitely not the case, as you may gathered by now. This roles requires extensive knowledge of mathematics, discrete mathematics, statistics and more. Further, certifications can help professionals to reach higher level in their career.
The average salary of a Artificial Intelligence Engineer is $110, 840.
Data Scientist: These are the decision makers of major corporates. This role isn’t primarily a AI role. Given that it uses prediction modelling and data visualization, it is counted among the roles. Data scientists are paid huge sum, it is one of the highest paid roles around the country.
The average salary of a Data Scientist is $128, 750.
Further, there other roles like Analysts whose role could vary from industry to industry. However, the expectations remain same– to collate data as and when required and provide insights.
Overall, there is huge demand for AI professionals around the world. However, there’s lack of talent in this space, as it is still new among the masses. Looking at this, people are rushing to get themselves skilled in AI related technologies and there’s a reason to that, it is a prosperous field and growing.
