Artificial intelligence and machine learning experts are now earning whopping salaries. The logic is simple, there are not many people with these skills but the demand does not cease to rise. Above all, there is a shortage of talent and companies aren’t hesitant to offer lucrative salary packages to professionals with these exceptional skills.
It is not as simple as building the flavor of the month smartphone app when it comes to solving an AI problem. There is a mere count of 10,000 or fewer people with skills that could research on AI problem worldwide, says Element AI, an independent lab established in Montreal. What is seen in the current scenario is not good for society? Organizations are anxious to hire individuals who know the cohort of the technology and how it is impacting businesses.
Several organizations are shelling out an attractive premium for AI professionals as the job market intensifies with the demand for AI and ML skills. The demand and supply scale is unstable, driving a hike of 60-80% during job switch, in comparison with other skills that demand a 30-40% hike.
Researchers from the firm Korn Ferry predicted that companies in the technology, media, and telecom field will face a shortage of talent of around 1.1 million by 2020 which will further increase to 4.3 million. The IT market will face an intense sense of competitive drive for AI professionals. In the same study, it is found that 54% of the digital transformation is being held back due to a shortage of staff supply.
Artificial Intelligence - The Future of Work
AI has been around us for years together but it is now that we realize the need of it. The idea of using machines is to reduce the manual labor that generally takes hours for a human to complete. Although the idea is not appreciated by many humans today, the relationship between machines and jobs is indeed a hot topic to discuss today. The World Economic Forum estimated that AI will create as many jobs as they will displace. However, what people do not realize is that, despite the fact it is displacing millions of jobs, it will also develop new job opportunities. Automation is definitely stirring the work environment easing tasks for different businesses.
A report “How AI boosts industry profits and innovations” predicts the rise of economic growth to grow at an average of 1.7% across all industries by 2035. And for good reasons, professionals of today must take up certifications. Artificial intelligence certifications will bridge the skill gap that the industry is constantly facing today. The demand for AI professionals keep growing, you will always find new unconventional career paths, the great potential of high salary growth and above all, there is a higher chance of landing a job - good reasons why one should go for an artificial intelligence certification today.
Be it for the recruitment management or performance management, artificial intelligence is already doing justice to the workforce. Likewise, the impact of artificial intelligence is already felt in the industry and is predicted to remain the same in the foreseeable future. What we know today, is that keeping yourself employable and upgraded with the relevant technologies will make you irreplaceable.