While human being is the creator of technology, today almost no one can imagine their life without technology. That’s how profoundly technology is controlling its creator now. Mankind is literally at the cusp of rapid technological advancement.
Around 73% of all cubicle-related jobs will be automated by 2030 which is equivalent to over 20 million jobs. (infographic)
On the brighter side, this is also true that only humans hold the power of thinking and creating. Keeping pace with the technological advancements and getting versed in trending technology shall unequivocally let the working class stay valuable in the global technology job market. Tech enthusiasts today, to confront the changing technology ecosystem are increasingly showing interest in taking up top IT Courses and get trained in top technical skills. And when we talk about tech skills, mentioning Machine learning certainly becomes imperative.
What is Machine Learning?
Google the meaning of Machine Learning, and you will end up finding countless definitions in technical language. In layman’s term, Machine Learning which was coined by Arthur Samuel back in 1959, is a subset of Artificial Intelligence that deals with allowing the machine to comprehend and learn huge data themselves through examples and experiences. In ML, extraction of patterns from large data sets is made quite easy, thus enabling develop significant logic based on the given data.
“Machine intelligence is the last invention that humanity will ever need to make.”
Machine Learning Applications:
The application of Machine Learning is transforming almost every industry today where businesses are using ML for capitalizing its data to gain meaningful insights, intensifying sales, improving the relationship with customers, just to name a few.
Machine Learning in Travel Industry:
Travel is one of the industries which require maintaining a high customer satisfaction rate for better business outcomes. To improvise the overall customer experience, over the years travel industry has been applying machine learning in the form of developing smarter intelligent travel assistants, AI-based personalization to boost customer loyalty programs, prepare tailored offers for customers and many more. ML is also beneficial for travelers, where ML assists the travelers immensely in providing customized suggestions after analyzing the preference and needs of the customers rigorously.
To summarize, Machine Learning is exceptionally enabling travel marketing analytics to become way more predictive. The impact of ML is such that, around 97% of the industry experts admitted they believe the digital marketing future will involve human marketers working with machine learning-powered automation.
Machine Learning in Logistics Industry
In the time when most of the useful activities are being performed ‘online’- from shopping clothes to vegetables and likewise, logistics plays a great role in delivering and picking goods from one place to another. Thus to address the fast-evolving demands of the customers, the logistic industry is putting ample effort into adapting to technologies like ML and AI for enriching real-time decision making on issues like inventories, carriers, availability and costs , to keeping track of warehouse locations.
Forbes insights research found out 65% of senior transportation-focused executives agree that the evolution of AI, ML and, related technologies can bring significant revolution in the logistics, supply chain and transportation processes.
Machine Learning in Retail Industry
Retail businesses across the world are leveraging the potentialities of Machine Learning and it is poised to disrupt the retail industry in many ways. One primary zone where ML is contributing is in the materializing theory of smart automation in inventory management and supply chain.
For instance, a retail king like Amazon has access to a myriad of customer data and applying ML to that data, they can predict demand for particular products, provide customized recommendations and so on. Owing to that, it came to light — Amazon’s 35 percent of sales come from machine learning-driven product recommendations that are tailored to each shopper.
IBM Machine Learning
IBM or International Business Machines, an American IT MNC, is a forerunner in the world of technology, which also is widely known for its offerings in the Analytics area. Watson Studio — IBM’s enterprise platform for harnessing the potentialities of AI, enables enterprises to scale and simplify data science to accelerate their business results. Watson Studio owing to IBM Watson Machine Learning has gained a noticeable recognition worldwide as a top-notch data science and machine learning platform. IBM Watson Machine Learning allows building analytical models and neural networks by offering a range of tools and services enabling to build, train, and deploy ML models.
Given the immense success of IBM Watson Machine Learning in the IT market, there is a soaring demand for IBM trained professionals. To gain a successful career in the arena of analytics, there are a number of training programs designed exclusively for tech enthusiasts by IBM which one can obtain by enrolling in an authorized training partner.
Global Knowledge Technologies being one of the 5 Global training providers of IBM delivers a wide range of IBM training programs, letting the professionals earn essential skill sets and acclaimed Certifications that help in heightening the value of their resumes.
Machine Learning Market
By now, you might have already understood the extensive utilization of Machine Learning by varied industries which raises the value and growth of ML both globally and nationally.
- 82% of enterprises that are embracing ML and AI have gained a financial return on their investments according to McKinsey.
- AI and ML have the potential to generate an additional $2.6T in value by 2020 in Marketing and Sales and up to $2T in manufacturing and supply chain planning.
- Zion Market Research’s 2018 July report revealed that the ML global market was valued at USD 1.58 billion in 2017 and is all set to account for USD 20.83 billion in spending by 2024 with a 44.06% compound annual growth rate.
- Kris Gopalakrishnan, Co-founder of Axilor Ventures and former Executive Vice Chairman of Infosys, recently claimed that emerging technologies such as AI and ML would impact the Indian economy like the $177 IT services sector.
Machine Learning Career Highlights
Have been appearing in LinkedIn’s top emerging jobs list every year, Machine Learning is a career option that hasturned into avital topic of discussion among educators, professionals, and students everywhere. Comprehending the increasing need for ML skilled professionals, it will not be wrong to say that Machine Learning is undeniably going to shape the employment scenario globally.
- As of November 2019 Glassdoor survey on salaries, the average salary for a Machine Learning Scientist is INR 42,16,786 in India.
- Python has been found as the most popular language for data science practitioners in the Analytics India Magazine 2019 survey, where 75 percent of respondents said that Python is a demanding career path among job seekers.
- The adoption of ML by different industries has been so high that in 2018, ~0.18 Mn to ~0.2 Mn new jobs were created for the professionals who are equipped with skills and expertise in machine learning applications.
- Indeed reported that Machine Learning and Deep learning Engineers were found to be the most popular jobs posted between 2018 and 2019.
- Machine Learning Engineer, Machine Learning Developer, Machine Learning Expert, Researcher Machine Learning are some of the most-sought after job designations in the field of ML.
Technology is a field where change is the only constant. Get yourself prepared for upcoming challenges and opportunities coming your way in the professional front with adding Machine Learning Certifications, which will make sure that you are in tune with the future demand of the job market.