In response to the COVID-19 pandemic and acceleration of digitalisation, companies across the world have increased investments in artificial intelligence (AI) and data science (DS). An array of new-age technologies is supporting three vital business needs: automation of processes, gaining insights through data analysis, and engaging with customers effectively.
As companies capture value from AI and data science at function and enterprise levels, there is a significant rise in demand for skilled professionals in these fields. Datafrom the National Association of Software and Service Companies (NASSCOM) suggests that demand for AI and Big Data Analytics is estimated to rise to 8,00,000 job openings this year but lacks adequate supply. Operating and sustaining AI tools and software requires a specific set of skills, knowledge and attributes that are lacking among graduates.
The gap between demand and supply in the fields of data and AI is an opportunity for freshers and professionals to upskill and make a successful career.
Below are ways where learning data science and AI can help you succeed:
- Growing demand for AI and data science talent across industries
AI and data science technologies are no longer restricted to the IT industry. They contribute a significant role across consumer-centric sectors such as banking, finance, healthcare, media, education and automobiles. These new-age technologies are being adopted by almost every sector for better outcomes. Despite their size, all businesses are looking at leveraging data to drive efficiencies. Therefore, they are continually looking to hire people who can collect, read, and analyse data to enhance business outcomes. These job opportunities will continue to surge beyond 2021.
- Supply does not match demand
Businesses across sectors are seeking to acquire AI and data science talent, even during the ongoing economic crunch. Since the talent pool is too small for the soaring demand, skilled professionals are highly sought after. To bridge the skill gap, larger companies are also offering upskilling in AI and data science, and free educational resources to its employees.
- Lucrative career opportunities & ample scope for salary hikes
Growth, remuneration, job security, and reputation make AI and data science attractive career options. There are jobs available, not just in corporations, but also in academia and research.
Big Data and AI projects require team effort. Business leaders need to bring on teams of engineers, specialists, and data scientists, to build high-performance AI-enabled software. Professionals would then get to communicate with a diverse team of experts and learn on the job. The average salaries of DS and AI professionals are usually high, and they receive reasonable hikes while switching jobs.
- Opportunities to participate in the post-pandemic recovery of the economy
Companies are looking at more widespread application of data science and AI towards economic recovery and thrive in the post-pandemic economy. Leaders are building dedicated teams that will work towards deriving meaningful business insights from data to drive growth.
- Transforming human lives
The use of AI and data science is transforming and improving many facets of human lives. It is playing a significant role in sectors like healthcare, agriculture, climate, finance, as well as in the legal fraternity. By pursuing data science or AI courses, learners not only find better jobs and higher salaries, but also opportunities to make a difference by joining these fields.
This indicates that upskilling with AI and data science through various short-term and long-term programmes will have an impact on career prospects. Also, the curiosity, data-driven mindset, and passion will make you the right candidate for the job.
By Anish Srikrishna, Chief Executive Officer, Times Professional Learning