Ai is definitely one of the biggest buzzwords today, and it is not without reason. A recent survey by Gartner covering 89 countries found that AI implementations have increased by 270% in the last four years.
This increase is only scheduled to continue. The artificial intelligence (AI) market, valued at $ 21.5 billion in 2018, is expected to touch $ 190.6 billion by 2025, according to a report by Markit & Markets.
This large-scale increase in AI is fully understandable when you look at the benefits for enterprises and businesses adopting AI. One, it can help companies automate many repetitive, laborious processes.
It can also help provide unprecedented visibility through advanced analytics, helping to significantly improve decision making.
A report by the MIT Sloan Management Review in collaboration with the BCG Henderson Institute found that 91 percent of enterprises expect AI to deliver new business growth by 2023.
With the increasing adoption of big data, cloud and robotics, we can expect AI adoption. Closed in a big way.
Any discussion on the development of AI inevitably points towards its impact on the job market.
While there are concerns about mandatory job losses brought by AI, most of these narratives miss the big picture.
However, the possibility of job loss is not unfounded. By 2030, according to a study by the McKinsey Global Institute, more than 800 million people worldwide will lose their jobsin fields of(Artificial Intelligence).
But we need to separate these data with reports such as the recent World Economic Forum study.
The study found that while the attack of machines and algorithms would lead to displacement of 75 million jobs by 2022, the trend is expected to create about 133 million new roles.
If we look at whole numbers, AI will more than likely create jobs that will destroy it. However, the new jobs that emerge will require new skills, which are in short supply today.
According to the EY-NASSCOM the Future of Jobs in India ‘report, 9 percent of the workforce will be deployed in new jobs that do not exist today.
This may occur as early as 2022. In addition, 37 percent are likely to be deployed in jobs that require fundamentally different skill sets.
These new jobs will likely place a premium on innovative thinking, creativity, and analytical abilities.
There are many new job roles such as data scientists, robotics scientists, business intelligence developers, AI software developers who are gaining currency as soon as AI comes to the forefront.
Whether you are already part of the industry or new or aspiring for a job, it makes sense to invest in AI to acquire the skills required to make a career.
But just doing a random MOOCs course or learning a new programming language is not enough.
This is often the result of insufficient knowledge that is not enough to achieve your dream job.
As we have discussed earlier, AI has two major applications where a lot of work is going on in the industry.
One is applications in data science and analytics and the other is robot process automation.
To make a career in data science / AI, is not just about learning a new programming language.
Apart from programming, working in data science requires well-rounded knowledge in fields such as statistics, mathematics, NLP etc.
It also requires good communication skills and the ability to match business problems with technology solutions.
Apart from AI basics, it is useful to delve deeper into topics like Data Science, Machine Learning, Deep Learning, Python etc.
Likewise to make a career in robotic process automation, it is necessary to know the platforms and technologies that are popular in the RPA space — such as UI-Path and Automation — anywhere.
Most importantly, what matters most in both areas is to have hands-on learning through projects and actual technology execution.
When choosing a course to further your AI skills, it makes sense to select a blended learning approach – with a mix of online self-learning, interactive sessions, projects and labs to ensure That by the end of it,
one has good hands-on experience and a complete understanding of how things work.
This type of approach will prepare you for the job for opportunities to get out there
As data analytics and AI are becoming increasingly mainstream, companies are finding it difficult to find the right talent to implement projects in these areas.
In such a scenario, having the right skills actually allows professionals to command a premium. For example, last year, TCS announced that it would double the salary for freshers with new-age digital skills in areas such as AI / ML(Artificial Intelligence).
And for experienced professionals, most companies have a significant premium in their compensation for people with high demand skills such as AI / ML.
The future will be a huge opportunity for those who have the right skills and many dangers for those with inherited skills who go out of demand. By investing in learning the right skills,
you can prime yourself for a successful career that allows you to grow continuously over the years. Now is a good time to start!