In a recent interview with Business Insider magazine, CEOs from reputed digital organizations expressed their concerns over the gap between demand and supply of AI, ML and Data Science talent in India. The report also revealed that for companies which employ over 1000s of people in various areas, their core team that was working in data science and AI had hardly few members. The report reflected the need for creating a qualified talent pool which is capable of working in Artificial Intelligence and Data Science domains in order to drive the growth of organizations in technology front.
The advancement in technology space, the change in lifestyle and expectations of consumers and various other factors have made it necessary for organizations to embrace AI, Data Science, BlockChain and various other new-age technological solutions. The talent crunch in the industry has made it essential for educational institutes to design programs that meet the needs of the industry. In this write-up, we will discuss on how AI is gaining importance in the age of digital transformation and the job opportunities that are created in new-age domains. Read on to find out.
Cognizant and ESI Thought Lab published a report in 2019 titled “Investing in AI: Moving Along the Digital Maturity Curve.” The report explored how organizations are in the path of embracing artificial intelligence in order to turn more competitive and stay relevant in the modern world. The report was put together after surveying 2491 business and technology leaders. It said that organizations that were considering themselves digitally mature were investing high on Artificial Intelligence as compared to their counter parts.
On the other hand, organizations that were spending low on AI had their own reasons. They were still in the stage of adopting cloud, building data warehouses etc. which are prerequisites for AI adoption in future. So why are companies in a hurry to catch the digital transformation train by adopting AI? Following are some of the reasons why companies have no choice but to embrace new technologies.
If we spoke about AI about a decade ago, businesses would not have shown that much interest. Today, the world is much ahead in terms of computing power, connectivity etc. Putting it in perspective, data being one of the core components of AI technology development, is getting generated in huge volumes within fraction of seconds in the modern world. The humongous growth in data centres and the increase in penetration of the internet have made it simpler for organizations to gather and store data. The computing power required to process such huge volumes of data is also available, thanks to cloud computing. With simultaneous developments in various sectors, the foundation for AI is well laid and much stronger than ever. Organizations, especially the ones who have good digital foot print have naturally been in the process exploring new possibilities in AI in the recent years.
With digitalization, markets are becoming more and more consumer centric. Starting from the ads and personalized notifications that pop-up on the screens of prospect consumers to the smart search bars, online chat bots etc. that enhance the experience of online shopping/communication, AI and other data-driven technologies are implemented in various stages of digital platforms today. With changing consumer behaviour/expectations, organizations are looking for new possibilities where they can understand consumers better and offer better products or services, ultimately doing better business. The return on investment for the efforts has been intangible since it comes in the form of great customer experience/customer satisfaction. Therefore embracing AI to meet the expectations of consumers is not a choice but a need for the modern organizations which have considerable digital footprint already.
According to a study from Analytics India magazine, there are about 91,000 professionals working in AI domain in India at present. The median salary of professionals is about Rs. 14.7 lakhs per anum. AI domain is still in budding stage in the country and there has been increase in investments in the domain in the recent years. For aspirants who desire for a career in Artificial Intelligence in future, there are great opportunities. . It is just about getting into the wagon at the right time. Innovation in the sector will create the need for professionals and someone who is looking to work in this field must be ready take on challenges. Following are some of the entry-level career roles in AI.
Artificial Intelligence and Data Science domains depend on one another for their existence. Therefore, students who aspire for a career in new-age domains can develop knowledge of AI, Machine Learning, Data Science and other concepts. There are few reputed institutions in the country that offer programs where Artificial Intelligence and Data Science concepts are thought. B.Tech CSE Artificial Intelligence program offered by Jain University comes with add-on certifications. The program educates students in areas of Big Data Management, Soft Computing, Sensor Technologies, Logic Programming, Artificial Neural Network, Pattern Recognition and so on.
For students who have completed their graduation with Computer Science specialization and wish to get exposure to new technologies, M.Tech CSE Artificial Intelligence program from CMR University, Bengaluru can be a game changer. Students can get to learn through projects, internships and practical sessions. The University also offers program specializing in Data Science which again can open doors to opportunities in another new-age sector.