With respect to the growth and demand in the artificial intelligence (AI) field, a whitepaper published by the Chinese tech giant Tencent’s research arm says there are just 300,000 AI researchers and practitioners worldwide, but the market demand is for millions of roles.
Reuters reports that many economists believe AI has the potential to change the economy’s basic trajectory in the same way that, say, electricity or the steam engine did. The following graphics represent a supply and demand comparison over the last half-decade.
Machine learning (ML), a subfield of AI, makes up the largest chunk of investment made in the AI field. A research report by Research and Markets predicts that the ML market will grow at a CAGR of 44.1 percent by 2022, taking the total investment to a staggering USD $8.81 billion.
Glassdoor estimates that average salaries for AI-related jobs advertised on company career sites, including jobs in machine learning, rose 11 percent between October 2017 and September 2018, to USD $123,069 annually.
These reports serve as credible sources about the demand for skills related to ML and AI. Even though currently you might not have directly relevant experience in AI, there is no denying that given the growth in the field of AI, you will come across opportunities to use your existing industry knowledge and the new skills acquired via our applied AI program.