ARTIFICIAL INTELLIGENCE & MACHINE LEARNING

ARTIFICIAL INTELLIGENCE &MACHINE LEARNINGCAREER GUIDE

INTRODUCTIONData has garnered a great deal of attention over the past decade and isbeing considered as the new oil because it’s extremely valuable toorganisational success. This data economy with its vast reservoir of vitalinformation is pushing for innovations in data science, Artificial Intelligence,Machine Learning, and Deep Learning technologies. Machines are learningfrom data to derive patterns and insights to aid various applications andprocesses.APPLICATIONS OFARTIFICIAL INTELLIGENCEWith the fast-paced advancements in the field of Artificial Intelligence andrelated technologies, one can witness AI applications being used in theirroutine lives. Automated customer support systems, chatbots, andpersonalized shopping experience with product recommendations are acommon example of this.With smart autonomous cars driving on roads and autonomous dronesdelivering items directly to doorsteps, a great deal of transportation andservice issues will be resolved effectively. Companies like Walmart andAmazon are investing heavily in making the drone delivery a reality and anefficient system of delivering goods faster and safely.The creative fields are also adopting AI as a means of exploring new ideas inart and music in this technologically advanced era. Other applications of AIcan be witnessed in the new-age Security and Surveillance systems wheretechnologies like image processing, data science, facial recognition, andvoice recognition are helping security forces to develop better systems toidentify and act upon security breaches, many a time before they actuallyhappen.1

IMPORTANCE OF AIArtificial Intelligence is influencing people and businesses at a massive scaleand has become an inseparable component. The scope of AI will onlyincrease in the near future. The everyday interaction with AI to make our livessimpler is evident in the way we use our smartphones to navigate around thecity with live insights on traffic, suitable and fastest routes, and otherrecommendations. Also, the virtual digital assistants such as Cortana orAlexa are making our lives simpler than ever.Businesses are exploring the scope and utility of AI to devise new products,processes, and capabilities with an aim to gain competitive advantage alongwith saving cost and time. The vast amount of data collected by businessesalong with concepts like the Internet of Things are driving marketingdecisions and improving operations and customer service.2

INDUSTRY APPLICATIONSOF AIHealthcare and Entertainment are two sectors that are being massivelyinfluenced by Artificial Intelligence.HealthcareAI technologies are being developed to help medical institutions tostreamline clinical as well as administrative healthcare processes. Accentureanalyzed the AI applications in healthcare in terms of estimated potentialannual benefits by application by 2026. Here is what the study established:ROBOT-ASSISTED SURGERY 40BVIRTUAL NURSING ASSISTANTSADMINISTRATIVE WORKFLOW ASSISTANTS 20B 18BFRAUD DETECTION 17BDOSAGE ERROR DETECTIONCONNECTED MACHINESCLINICAL TRIAL PARTICIPANT IDENTIFIERPRELIMINARY DIAGNOSISAUTOMATED IMAGE DIAGNOSISCYBERSECURITY 16B 14B 13B 5B 3B 2BSource: Forbes Insights - AI And Healthcare: A Giant Opportunity3

EntertainmentToday media and entertainment companies aretraining ML algorithms to design advertisements anddevelop film trailers. Personalized user experience isgiven a lot of importance with streaming channels thatrecommend content based on specific user activityand behaviour.Artificial Intelligence softwares are improving thespeed and efficiency of the media production processand the ability to organize visual assets. Many gamingplatforms are also adopting new technologies to bringmore interactive gaming experience. Sports showmaximum affinity towards using Artificial Intelligencefor game preparation and real-time analysis of theon-field action.Banking and FinanceApplications of Artificial Intelligence in Banking andFinance are set to revolutionize the industry and bringit up to a more secure and sophisticated platform. AI isbeing used to detect anti-money laundering patterns,which is much more efficient than the traditionalrule-based software systems.Talking about Algorithmic trading, reports suggest thatautomated AI systems are behind more than 70% ofthe trading today. One of the fields where AI hasproved to provide the most accurate and superiorresults is ‘Fraud Detection’. Apart from the regulatoryand legal aspects, banks and financial institutions areusing chatbots and virtual assistants to provide bettercustomer service than ever.4

MarketingAI-generated content is big news among thecontent-generating and aggregating agencies andprofessionals. Smart content curation allows betterengagement with visitors on a website by showingcontent pieces relevant to them. Another aspect isVoice Search which is set to change the future SEOstrategies. Brands need to keep up and leverage hugereturns on organic traffic with high purchase intent.Marketing automation, programmatic media buying,propensity modelling, predictive analytics, and leadscoring are other applications where AI can leveragebetter results. Some Machine Learning algorithms canrun through a vast amount of historical data to drawinsights on the ads which performed best, audiencetargeted for the same, and buying stage.AI is also helping in evolving the concept of dynamicpricing, web and app personalization, chatbots, andre-targeting, some of the marketing aspects directedtowards conversion.Retail and e-commerceImage search is a very important application ofArtificial Intelligence for e-commerce. It makes it somuch easier for shoppers to search products similar toa product image across sellers online. AI is alsoderiving sense and insights out of the massive amountof data generated by the minute.Product recommendations, Chatbots, and efficientafter-sales services backed by AI are directed towardshigh customer satisfaction, engagement, and finally,loyalty. AI is also helping retail brands manage theirinventories, improve their CRM, and develop a bettersales process.5

ManufacturingSmart factories are primarily driven by AI concepts andtechnologies taking active measures for increasedproductivity, environment friendliness, and quality oflife at these intensive workplaces. Artificial Intelligenceis being applied for quality checks, maintenance, andcreating more reliable designs and layouts for theplant and its processes.Apart from that, it is also reducing environmentalimpact by applying methods of cutting down wasteand using the resources optimally. An example of thisis demonstrated by Siemens, where hundreds ofsensors feed an AI operating data processing systemto adjust fuel valves to keep emissions as low aspossible.Applications of AI are myriad in manufacturing and notjust limited to the ones mentioned here. One canwitness how AI works wonders with different aspects ofthe supply chain.The outcome of these applications and the general acceptability of thesetechnologies can be seen in the form of increased job opportunities and newwork domains. This has created a necessity to learn new skills and move fromthe older redundant roles to the new high paying jobs, given one acquiresthe required skillset and subject matter knowledge.There are opportunities to upskill and move horizontally and vertically intothe organizations across industries making a career which is highly rewardingand relevant to this age and time. With sophisticated skills and continuouslearning, employees can deem themselves irreplaceable and make a strongposition for themselves in the job market as a highly preferred resource.The myth that AI will eat up jobs is being constantly proven wrong by theseinnovative solutions and applications of Artificial Intelligence. The jobs willsurely be displaced by leaving some roles redundant, but a lot moreopportunities will open up demanding an upskilled workforce.6

CAREER OPPORTUNITIESIt would not be wrong to state thatArtificial Intelligence has picked upthe pace to reach its prime, and isgoing to see an upward graphover the coming years. The careeropportunities likewise are growing.57%of the companies in Indiahiring for AI roles.4000AI jobs were vacant in theyear 2018The challenge is that the supply ofskilled resources in ArtificialIntelligence lags behind the demandsubstantially. These are the jobs thathave been vacant for a stretch of 12months straight. This gap showcasesa huge opportunity and promisingcareer prospects for mid andsenior-level professionals acrossindustries.Source: Economic Times - 2018You can enter into the field of Artificial Intelligence and pursue a career in thesame by following these five steps: Understand the AI career landscape Research and list out popular job roles in the field of AI and evaluate whichsuits you best Understand the education and knowledge pre-requisites to pursue yourchosen job role Enrol to top online or offline resources and institutions to learn from Start with the job hunt to land your dream job7

AI SALARY TREND IN INDIAA career in Artificial Intelligence pays off really well. 14.3lacs per annumThe median salary of AI professionals in IndiaCity-wise remuneration trendsMUMBAI15.6LBENGALURU14.5LCHENNAI10.5LAverage Salary per annum (INR)Source: Economic Times - 201840%4%60-80%20-30%Entry levelprofessionalsSenior levelprofessionalsSalaryhikeSalaryhike 6L p.a. 50L p.a.Job switch inJob switch inSalarySalarydomaindomainsAIOtherSource: Economic Times - 20188

AI JOB TITLESMIT Sloan’s research aggregated the responses of over 3000 analysts,executives, and managers across industries and deduced that 85% of thembelieved that AI will provide a competitive advantage to their businesses.But, on the other hand, only 20% have started to implement this technologyin their own businesses. Also, the world economic forum’s report forecastthat AI and robots at the workplace will create 58 million net new jobs in thecoming years. The landscape is wide and varied for a career in AI andprofessionals can expect a major shift in the quality, number, location, andpermanency in AI specialist roles.The job roles offered by companies hiring for AI roles01SoftwareEngineer06AI dataanalyst02Datascientist07Machine &D Engineer19

AI HIRING INDUSTRIESIT2.5Ltops the race among industries that aremassively hiring for these AI roles.new jobs in 2019 in India by ITindustry.Source:“IT hiring projections for 2019” byTeamLeaseOther industries that are most likely to adopt AI and Machine Learningsolutions and hence create job opportunities for experts are:MANUFACTURING &SUPPLY CHAINFINANCIALSERVICESHEALTHCAREEDUCATIONCONSUMER& RETAILPUBLIC & UTILITYSERVICESAGRICULTURETELECOMThe top 10 organizations which offered most numbers of job opportunities inthe year 2018 were:(Source: Economic Times - 2018)110

SAMPLEJOB DESCRIPTIONSARTIFICIAL INTELLIGENCE ENGINEERResponsibilities Set up and manage AI development and production infrastructure Help AI product managers and business stakeholders understand thepotential and limitations of AI when planning new products Build data ingest and data transformation infrastructure Identify transfer learning opportunities and new training datasets Build AI models from scratch and help product managers and stakeholdersunderstand results Deploy AI models into production Create APIs and help business customers put results of your AI modelsinto operationsSkills Required Demonstrated proficiency in multiple programming languages with astrong foundation in a statistical platform such asPython, R, SAS, or MatLab Experience building AI models in platforms such asKeras, TensorFlow, or Theano Demonstrated commitment to learning about AI through your owninitiatives throughcourses, books, or side projects11