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In response to the COVID-19 pandemic and accelerating digitization, companies around the world have increased their investments in artificial intelligence (AI) and data science (DS). A range of new era technologies address three vital business needs: automating processes, obtaining insight through data analysis, and effectively interacting with customers.
As businesses derive value from AI and data science at the function and enterprise level, the demand for skilled professionals in these fields is increasing dramatically. Data from the National Association of Software and Services Companies (NASSCOM) suggests demand for AI and big data analytics is expected to reach 8,000,000 job openings this year, but the supply is insufficient . Operating and maintaining AI tools and software requires a specific set of skills, knowledge, and attributes that graduates lack.
The gap between demand and supply in the data and AI fields is an opportunity for freshmen and professionals to develop and succeed in their careers.
Below are some ways in which learning data science and AI can help you be successful:
- Growing demand for AI and data science talent across industries
AI and data science technologies are no longer limited to the computer industry. They play an important role in consumer-oriented sectors such as banking, finance, healthcare, media, education and automotive. These new era technologies are adopted by almost all industries for better results. Despite their size, all businesses are looking to leverage data for efficiency. Therefore, they are continually looking to hire people who can collect, read and analyze data to improve business results. These job opportunities will continue to increase beyond 2021.
- Supply does not match demand
Companies across all industries are looking to acquire talent in AI and data science, even during the current economic crisis. Since the talent pool is too small for the growing demand, skilled professionals are in high demand. To fill the skills gap, large companies are also offering training in AI and data science, as well as free educational resources for their employees.
- Lucrative career opportunities and wide possibilities for salary increases
Growth, compensation, job security, and reputation make AI and data science attractive career options. There are jobs available, not only in companies, but also in universities and research.
Big Data and AI projects require a team effort. Business leaders need to bring in teams of engineers, specialists, and data scientists to create high-performance AI-enabled software. Professionals could then connect with a diverse team of experts and learn on the job. Average salaries for DS and AI professionals are generally high, and they receive reasonable increases when they change jobs.
- Opportunities to participate in the post-pandemic economic recovery
Businesses envision more widespread application of data science and AI for economic recovery and thrive in the post-pandemic economy. Leaders form dedicated teams that will strive to extract meaningful business insights from data to drive growth.
The use of AI and data science is transforming and improving many facets of human life. It plays an important role in sectors such as health, agriculture, climate, finance, as well as in legal fraternity. By taking courses in data science or AI, learners not only find better jobs and higher wages, but also opportunities to make a difference by joining these fields.
This indicates that building AI and data science skills through various short and long term programs will have an impact on career prospects. Plus, curiosity, data-driven mindset, and passion will make you the right fit for the job.
By Anish Srikrishna, CEO, Times Professional Learning
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