In recent years Artificial Intelligence (AI) technology is transforming business models, processes and customer relationships across the countries in varied sectors and industries- robotics, gaming, weaponry, speech recognition, healthcare, vision recognition and search engines etc. From smart assistants like Siri and Alexa to robots serving food in restaurants to self-driving cars to Robotic vacuum cleaners, facial recognition software etc. all are applications of AI.
In India, Artificial Intelligence (AI) is still in its nascent stages, but gradually it’s utilization across major sectors such as Education, Infrastructure, Agriculture, Healthcare, Transport, Cyber Security, Manufacturing, Banking and Entertainment etc. is being explored.
But what is Artificial Intelligence?
Machines programmed to simulate human intelligence, think, learn as well as decide and solve problems like them, basically mimic their actions is referred as Artificial Intelligence (AI). In other words AI equip machines with the capability perform human-like functions by learning through experience.
Scope:
As per Markets and Markets forecast, by 2026, global artificial intelligence (AI) market size is estimated to grow to USD 309.6 billion from USD 58.3 billion in 2021 rising at a CAGR of 39.7%.
As per the report of International Data Corporation (IDC) on India Artificial Intelligence Market, 2021, India’s AI market value was at USD 3.1 billion in 2020 and is estimated to reach USD 7.8 billion by 2025 at a CAGR of 20.2%.
AI services market will grow at a Compound Annual Growth Rate (CAGR) of 35.8% by 2025, thus leading this charge in the Indian market
India AI software market is estimated to rise to USS 6,358.8 million in 2025, at a CAGR of 18.1% from USD 2,767.5 million in 2020.
Opportunities:
Given the huge market potential, there are immense opportunities available in the market. Few of the opportunities are being listed here as under:
Data Analyst: He analyzes the data of the past behaviour and finds insight so as to predict the future path.
AI Engineer: He is involved with building AI models to help stake holder understand the results
Research Scientist: He has an advanced degree in computer science and is an expert in multiple disciplines in artificial intelligence, including machine learning, applied mathematics, deep learning and statistics.
Business Intelligence Developer: He analyzes and process complex internal & external data to identify business and market trends. He enables the business users to utilize the dashboards by designing, modeling, and maintaining complex data in highly accessible cloud-based data platforms
Diploma in Artificial Intelligence: While identifying the right college, students must ensure the following:
The college must ensure that the students must gain skills that not only support existing career profiles but also prepares them for future careers in diverse domains across varied verticals in the ever evolving field of Predictive Analytics.
The curriculum must offer comprehensive perspective about Digital Business Management and AI
The college must offer certification that is recognised at both domestic as well as international level so as to ensure job opportunities globally.
The college must ensure global exposure through regular interactions with top faculty from global partner universities besides mentoring by renowned CEO’s and industry experts.
