The AI Talent Market: Opportunities for India
Although the pace of adoption of the Artificial Intelligence technology in India is very slow, the country is one of the largest human talent markets for AI. According to a report published by consultancy firm Bain & Co, industry body Internet and Mobile Association of India (IAMAI), and the corporate giant Microsoft, the artificial intelligence market in India accounts for just 1 percent of the global AI market, but the country has been producing 16 percent of the talent pool of the entire world, statistically the third-largest globally.
The report further stated that the talent needs of Artificial Intelligence in India has grown over the years due to the demand from different MSMEs or micro, small and medium enterprises.There has also been a significant rise in demand for AI and Machine earning professionals and contractors in large enterprises for digital transformation.
Nevertheless, the contrast between demand and supply for AI talent is extremely stark, even though the country is touted to emerge as the hub of global AI-educated professionals.
Another report published by the National Association of Software and Services Companies or NASSCOM highlights that the demand for AI professionals in India outran the supply by 14 percent in 2018, and the difference has increased to 33 percent in the last year.
Artificial Intelligence Career Scope
Due to different job profiles and roles as well as continuous development in the artificial intelligence technology, the scope in the industry is vast. If you are a fresher in the field of Artificial Intelligence, you should analyse your competency level and skills before choosing any particular job profile.
The different types of career job opportunities in Artificial Intelligence are as follows:
- AI analysts and developers
- Robotics specialist
- AI algorithm expert
- Surgical AI technician
- AI researcher
- Maintenance and mechanical engineer
- Military and aviation specialist
- AI engineer and scientist
Future in the Artificial Intelligence Sector
The future of the Artificial Intelligence market in India is undoubtedly bright as a lot of industries, as well as organisations, are choosing AI automation as part of their business growth strategy.
Currently, Artificial Intelligence technology is being used for both domestic and commercial purposes. For instance, the aviation and medical sectors are also utilizing AI technologies to enhance their services. Artificial Intelligence can significantly decrease the costs of a business by improving efficiency. And, sometimes, it also can outperform human efforts. For example, in the automobile industry, automated four-wheelers are currently being used, and soon automated trucks are also expected to be launched.
Due to the extremely bright future of the Artificial Intelligence industry, it is expected that the number of artificial intelligence-based start-ups will also increase in the coming years. Right now, the need for an AI expert in different business industries is more than ever because companies are unwilling to miss any technology that can transform their businesses.
Demand and Growth in AI
It has been predicted that between 2022 and 2025, the number of jobs requiring the use of Artificial Intelligence will be around 97 million. Artificial Intelligence in business can transform every industry, yet businesses are failing to recruit experts in the AI field that can work, create, and train together with intelligent machines.
With companies realising that computer vision, machine learning, and other similar technologies can effectively transform their businesses, they are looking for more and more skilled AI employees.
To keep up with the demand, a lot of universities, colleges, and online education platforms are responding to the AI job market by creating educational courses and skill-building programs that focus on developing skilled professionals in Artificial Intelligence. There are lots of different courses and job options available. If you are someone looking to enter this field, you may sometimes get confused.
In this section, we will help you understand some of the essential skills you can assimilate before entering the Artificial Intelligence job market and working with automated machines in the future.
Although there are AI solutions available in the form of low-code and no-code that can provide us with the solutions without making us do most of the hard work, some companies want to opt for code-based AI solutions for which they require skilled programmers.
You need to have a basic understanding of the most popular programming languages, namely Java, R, Python, and C++ to work in the AI sector. Anyone working on Machine Learning algorithms, will find it easier if he/she has a fundamental knowledge of these programming languages. Experts in this industry recommend learning and having a fundamental knowledge of coding while preparing themselves for AI job roles.
To help machines learn and think, the use of data is inevitable. Data can assist AI professionals in carrying out tasks and making decisions. Data scientists are knowledgeable enough to manage and work with data to comprehend intuitions from them. Due to their advanced analytical ability which is very essential for the machine learning algorithm, the skill of a data scientist is very important in the field of AI.
Although data science has been a part of the computer science curriculum for a long time, it is currently heavily concentrated on solving business problems through the help of Artificial Intelligence technology.
AIOps is a relatively new term comprising all the necessary skills required for working with different AI-related tools and services currently available in the market.
The connected systems of modern AI infrastructure are controlled and administered by the AIOps. Also, AIOps ensures that end-users are receiving quality services which are extremely important for every business..
Besides, AIOps takes care of the data operation and IT of organisations which involves implementing Machine Learning methods to make the use of data in the entire organisation efficiently.
Probability and Statistics
Although probability and statistics are very old mathematical skills, they are essential for those aspiring a career in the AI industry. They can help them understand things like how Artificial Intelligence works, where it can become very useful, and in which cases it is primarily applicable.
Before AI became a trending word and industry in itself, there were techniques like logistic regressions, Bayesian modeling, linear regression, random forest analysis, and clustering that helped businesses predict different things utilising patterns.
This is the reason these techniques are being used in the Machine Learning algorithms. With the help of probability and statistics, you will be able to make important decisions when working with AI and select the most suitable methods and techniques to receive proper solutions.
Visualisation and Communication Skills
We can use computers to analyse and determine correct decisions. But, without communication or proper explanation, the whole thing will become useless. A lot of organisations have proved that the utilisation of Artificial Intelligence and Machine Learning can be an extremely good thing by bringing out wide-scale and positive changes.
Nevertheless, communication skills are very important to receive the benefits of AI technology. That is why data translation and data communication are among the most demanded skill sets.
Highlights of India’s Artificial Intelligence Market
When it comes to data and Artificial Intelligence skills, India is the global source of the same. According to the reports of Bain & Co, it is the world’s third-largest producer of AI professionals. Also, the development of AI talent has increased significantly due to the collaboration of IAMAI.
To examine the maturity of India’s AI landscape, a total of 343 enterprises and 148 providers were selected, and among them, around 80 percent of the enterprises had at least one AI model in the manufacturing phase.
The market scenario for Artificial Intelligence in India indicates that there is an extensive utilisation of Machine Learning and Artificial Intelligence technology across all industries. In the case of providers, the number stands at 64 percent. These providers have been using Machine Learning and AI as the fundamental elements of their products.
The adoption rate has increased in multiple sectors, including gaming, communication, finance, technology, and OTT (over-the-top) platforms. Tech solution providers are leading when it comes to AI adoption in India. Nevertheless, most organisations are in the initial stage of AI adoption.
To further develop AI technology, direct support from educational institutions and different educational platforms is extremely necessary. The technological workforce of India has been nurtured in the internet or cloud-first world. That is why these skilled employees are good at combining cloud, legacy, and SaaS, making a world-class solution. Academic institutes and educational platforms need to introduce formal discursive education and the core implementation of AI technology.
Future of the AI Industry
Last year, the global Artificial Intelligence market size was valued at US 93.5 billion dollars, which is expected to increase at the CAGR or compound annual growth rate of 38.1 percent by 2030. The ceaseless development and research in multiple industries, such as healthcare, automobile, finance, manufacturing and retail, are increasing the scope of AI tremendously.
If you are interested in the fascinating AI industry and want to pursue your career in the same, you should enroll in Hero Vired’s Data Science, Machine Learning and Artificial Intelligence program today. This course will cover all the topics related to Artificial Intelligence, Data Science, and Machine Learning while making you understand the core concepts, how the different projects work, etc.
Any graduate in the field of computer science and mathematics (with prior coding knowledge) is eligible to apply for this course. Most importantly, after completing the course, Hero Vired will also help you land a job in the respective field through placement assurance services.