Machine Learning: Career and Future Scope

Is Machine Learning has a good career prospect in the future? If this question is in your mind then read the article below to know the answer.

The growing demand of Machine Learning (ML) and Artificial Intelligence (AI) in almost every industry is compelling the employees across the globe to learn new skills in similar areas. It is said that AI and ML are expected to impact and transform our lives in ways beyond imagination similar to the internet. AI/ML will change the way we shop, communicate, travel, perform our routine tasks and do our business.

Though, few may have confusion that a career in Machine Learning is lucrative or not? In its report on AI/ML, PricewaterhouseCoopers (PwC) revealed that 31% of the executives are worried about the inability to meet the demand for AI/ML skills over the next five years. With the article below, we will put forth the topic “Machine Learning: Career and Future Scope”.

The confusion among the workforce across the globe is due to the rumours such as the AI/ML will steadily take over large sectors of the workforce and will bring mass-scale unemployment. However, it is not true as a report from the world’s leading research and advisory company, Gartner depicts that AI/ML is expected to pave the way for close to 2.3 million jobs by the year 2020.

AI professionals trained in the field of Machine Learning are in very high demand. Almost every startup (software-based), as well as a large enterprise, wants to hire skilled Machine Learning professionals. So, if a person wants to get a job in the field of Artificial Intelligence, it is the best time to upskill with one of the crucial aspects of AI, named machine learning.

What is Artificial Intelligence and Machine Learning?

Before understanding what Machine Learning is, one must be aware of the exact definition of Artificial Intelligence. The term Artificial Intelligence comprises two words “Artificial” and “Intelligence”. Artificial means the non-natural things made by human whereas Intelligence refers to the ability to understand or think. One must not be confused with AI as a system rather it is implemented in the system. In other words, it can be said that it is an intelligence where we want to add all the human capabilities to a machine.

On the other hand, Machine Learning is the learning process that helps a machine to learn on its own without being explicitly programmed. ML is an application of AI that enables a mechanical system to learn automatically and improve from experience. Here we can generate a program by integrating input and output of that program.

AI and ML concepts have been around for decades, but it is only recently, that huge volumes of data that are gathered from distributed sources, which was not possible in the past, is making a difference to this concept.

Artificial Intelligence & Machine Learning: Future Prospects

A recent report of IT firm Accenture stated that the AI has the potential to add nearly $957 Billion to the Indian economy by changing the nature of work and creating better outcomes for businesses.  The report called ‘Rewire for Growth’ predicts that AI intervention could increase India’s annual growth rate of gross value added (GVA) by 1.3 % points, thus lifting the country’s income by 15% in 2035.

Moreover, the growth is not limited to AI only. Research from MarketsandMarkets depicts that the growth in machine learning market size will be USD 8.81 Billion by 2022.

As there are lots of opportunities in this field, this the right time to upskill in the Machine Learning to gab any of the following job roles.

Machine Learning: Job Roles

Let us take a sneak peek into some of the ML job roles in demand.  Machine Learning Jobs for freshers may include the job of a software engineer, data analyst or data scientist.

Machine Learning Engineer: Machine learning engineer is responsible for designing and implementing machine learning algorithms.

Data Scientist: A Data Scientist collects, analyzes, and interprets large amounts of unstructured data using Machine Learning and predictive analysis to derive insight and help design future strategies.

Data Analyst: A Data analyst first acquires information about a specific topic, then interprets and analyze it, and at last present the findings in the form of comprehensive reports.

Data Architect: Data Architects develop, construct, test, and maintain highly scalable data management systems using Machine Learning algorithms.

Machine Learning: Average Salaries

Salary packages of Machine Learning Professionals depend on their qualifications, job roles, job profiles, and years of experience. The annual package of a fresher usually lies between 6 lakh to 9 lakh per annum (as per Payscale.com). The table below consists of the average salary packages offered to different job roles of a Machine Learning Professional (as per Payscale.com).

Top Recruiters

Below is the list of some renowned companies that recruit Machine Learning professionals

• Amazon
• Google
• Facebook
• Apple
• Microsoft
• Bosch Group
• Adobe
• Accenture
• Wipro
• JP Morgan Chase & Co.
• Uber

Also Read:

• How to Get Your Career Started in Artificial Intelligence
• Will Automation and Artificial Intelligence reduce or increase Jobs?
• An MTech in artificial intelligence?