The world is all set for a digital transformation. New technologies are disrupting how business is being conducted on a day-to-day basis. Among the most notable of these technologies are Artificial Intelligence (AI), Machine Learning (ML), and Data Science.
These technologies are constantly restructuring the landscape of different economies throughout the globe, as it provides tremendous career opportunities. Moreover, these technologies are also interrelated which gives an individual a chance to build a holistic, well-paying, and satisfying data science career.
Why now is the Right Time?
We are living in the age of the fourth industrial revolution where everything is expected to be data-driven. Moreover, the pace at which the volume of data is growing is simply astonishing.
According to an IBM survey, 90 % of the data available has been created in the last two years. Technological devices like smartphones, tablets, and laptops have revolutionized the way users interact with the internet, and this number of users is also increasing at an exponential speed.
Now, accumulating data is not enough. An analysis of data is required to produce insights that can help in the curation of actionable results. This is exactly where the tools of AI, ML, and Data Science become relevant. These tools leverage various techniques from mathematics, statistical modeling, data engineering, data visualization, computer programming, cloud computing, etc.
To extract the insights from data collected by an organization. Now, this insight forms the basis of strategic decision-making in any organization. It is used to create targeted ads, augment customer experiences on company websites, reduce costs, forecasting demands, and so on. Therefore, the application of predictive algorithms like AI, ML, and data sciences are pervasive throughout different functional domains.
Again, these tools are used across different organizations as well. Governments, Corporates, Brands all are leveraging the advancements in technology to create an entire automated, data-driven ecosystem. Therefore, naturally, there has been an upsurge in the demand for data science courses in India and data science jobs across industries and functions. It is estimated that in India close to half a lakh positions have opened up.
From an Indian context only, a typical data scientist is expected to receive a salary of around INR 9 lakhs p.a. Similarly the salary figures for AI and ML engineers would lie at around INR 5.5 lakhs p.a. and INR 11 lakhs p.a. respectively. Therefore, a six-salary figure makes a career in these disruptive technologies even more attractive.
With the pandemic changing the operation models across industries and functions, it can be safely assumed that technology is going to become even more relevant. Data Science, AI, and ML have a steep learning curve more and more organizations are adopting newer and agile techniques.
From expensive platforms, SPSS, SAS, etc. and organizations are now moving to open resource platforms like python and R. Therefore, technology is no more the future anymore; it is here and those who are passionate about it can find a lucrative career opportunity in AI, ML and Data Science.