A couple of years back, when the renowned physicist Stephen Hawking apart from making comments on the positive impacts of Artificial Intelligence, had in parallel advised the AI creators for employing best practice and effective management, the world of technology became aware of the immediate need of getting trained in AI. This piece of article will give you a broad knowledge of how AI has impacted our lives and the world and also would provide you some fair reasons why you should consider training in AI right now.
What is Artificial Intelligence?
For those living in the urban part of the country, Alexa, Google Assistant, and Siri have already become important elements in their lives. You just have to command like – “Alexa switch off the bedroom lights” and your work will be done, “Hey Google! When is my next flight? And you will soon get information on the same. And this has all turned into reality because of the existence of Artificial Intelligence. Altogether, AI is nothing but man-made intelligent machines that is capable of making lives relatively convenient through solving complex issues.
AI Developments in India
- As per a report submitted by Accenture, AI holds the potentiality of adding US$957 billion, or 15 percent of India’s current gross value in 2035.
- Foreseeing how AI is poised to transform economies, in the budget speech for 2018 – 2019, Hon’ble Finance Minister, mandated NITI Aayog to establish the National Program on AI, to guide the research and development in new and emerging technologies.
- With the Government of India announcing to set up smart cities across India, where 99 cities were been selected, the incorporation of smart systems has also been proposed. Facilities like AI-driven crowd management, traffic management, intelligent safety systems, and detecting cyber-attacks with the help of AI are some of the initiatives that the Government is hopeful to implement shortly.
Artificial Intelligence Advantages
- When it comes to AI in Healthcare, it has been estimated that the healthcare market globally driven by AI will witness an explosive CAGR of 40% in 2021, and what was a USD600 million market in 2014 is expected to reach USD6.6 billion by 2021.
- According to Markets and Markets Research, the AI in the agriculture market is projected to grow at a CAGR of 22.5% to reach USD 2,628.5 Million by 2025 from USD 518.7 Million in 2017.
- In a time when the educators and researchers across the world are striving to make education as personalized and customized as possible, numerous educational establishments or Edtech companies are embracing AI in Education. The CEO and Co-Founder of Topper- a well-known learning app, shared in one of his recent interviews that at Topper, both machine learning and AI is used to recognize the strength and weaknesses of the students, track individual learning progress and so on.
Jobs Created and Replaced
While a plethora of reports demonstrated AI as a demon that will snatch off all the existing jobs, in reality, and positive note, AI over the years has created a good number of jobs and possesses a great opportunity for tech professionals who update themselves with the AI skills.
- A study by EY and NASSCOM found that around 46% of the workforce by 2022 will be absorbed in entirely new jobs that do not exist today or will be deployed in jobs that have drastically revamped skillsets.
- A report released by Accenture surveyed that new applications of AI combined with human collaboration could enhance employment worldwide as much as 10 percent by 2020.
- AI Expert Kai-Fu Lee recently made a statement that AI will automate and potentially eliminate 40 percent of jobs within 15 years.
- Globally AI will create 2.3 Million Jobs in 2020, while eradicating only 1.8 Million jobs, predicted by the research firm, Gartner.
Top AI Designations
- AI Research and Development Engineer – Researching to find enhancement to machine learning algorithms and detect glitches.
- Machine Learning Specialist -Studying different patterns and find a way how those can be integrated into AI functions.
- Data Scientists/ Data Mining & Analysis – Understanding and investigating huge data sources, training and creating systems to perceive patterns.
- AI Engineer-Working widely on bringing together data engineering, data science, and software development tasks besides looking after AI-related problems.
Salary of AI Professionals
- A study conducted by Analytics India Magazine, in association with Great Learning – an online education firm for working professionals, found that in India around 40 percent of AI professionals can expect an entry-level salary of Rs 6 lakh onwards, while the experienced professionals can grab a salary higher than Rs 50 lakh.
- And globally, the average annual base pay for an AI job listed on Glassdoor is $111,118 per year.
Why it is the right time to learn AI?
The reports and researches stated above are adequate to justify the demand for AI-equipped professionals in the job space that exists currently and will remain in the years to come. Professionals with AI expertise will occupy dignified job roles in various leading businesses around the world. Unarguably, this is the peak time to qualify with a holistic AI Training and achieve your career goals through gaining certification from a trusted training provider.