Artificial Intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and reacts like humans by learning from past pattern and behaviour.
IOT sector creates 2.5 lakhs job every year in India. Currently, we have 4000 vacant positions in AI. According to a study by Analytics India Magazine, in collaboration with Great Learning, nearly 57% of companies are looking for candidates with 5 years of experience for senior-level and mid-level jobs. There is tremendous growth in AI and machine learning with an estimated growth rate of 30% from last year.
In 2018, the IT sector has seen 7-8% of salary hike and also growth can be increased to 8-10%. The government of India is boosting various challenges for the startup to grow AI based solution for various industries. But AI and machine learning sector have the potential to replace more than 80 million jobs by 2020.
Finance, healthcare and Retails are top most industry adapting AI but tremendous growths are seen in telecommunications, banking, pharmaceutical, logistics, consulting firms. New domain insurance sector and media, Edtech, publishing and advertising are adapting in a fast scale manner.
Global market size of AI stands at $7,345 billion in 2018. As per experts, sooner a person gets a job in AI, the better it is for the career. It is also expectedto double the growth rate of country economic. India is the next hub of various new languages and technology including Artificial Intelligence. Developing countries like India still in search of answer whether it will kill lakhs of job or will generate new sets of a profile.
With Digital push at the nationallevel, Internet of things and Smart City areas coming up a huge number of gadgets will be associated and such a vast scale availability security turns into an essential angle. This year’s budget put significant focus on AI, the NITI Aayog has already brought in national policy on AI, which focuses on the scope of AI research, adoption and commercialization. It provides short, medium and long-term goals in AI to be achieved in the coming years, starting from 2018. It also focuses on the roll-out of AI in areas like health, agriculture, education and others. AI task force is another initiative by the Indian government which focuses on kick-starting the use of AI in various industries.
Nowadays, more and more chat bots exist today to deal with client inquiries on a 24 X 7 premise. With a moreyouthful age being educated, they are happier with cooperating with an AI System than a human in a few regions.
A major concern associated with technology is the breach of privacy and security collect private and sensitive information. But with blockchain technology is at pace, we can get more secure devices and solution.