Today, technologies such as artificial intelligence (AI) and machine learning (ML) have become so intertwined in our lives that it is difficult to fathom a future without them. Consider smart virtual assistants (Siri and Alexa), recommendation engines on online purchasing platforms (Amazon and Netflix), self-driving cars, and smart homes, which are all examples of machine learning applications. Certainly, the incorporation of these innovative technical breakthroughs has made our lives a lot easier. We tell you why taking up machine learning is a good career move!
Although machine learning has been around for a long time (for example, Turing’s Enigma machine), interest in the notion has just lately peaked. As more firms become interested in advanced ML solutions and technology, it encourages students and professionals to pursue a machine learning career.
What exactly is Machine Learning? What is the significance of this?
In layman’s terms, machine learning is a subset of the broader category of artificial intelligence. AI is a notion that aids in the creation and development of intelligent devices that can function similarly to humans and learn from experience (without being explicitly programmed).
Machine learning, on the other hand, is the branch of AI that gives shape and meaning to the concept of building intelligent machines. It is a method for automating analytical model creation that incorporates data parsing and data analysis.
Why Should You Learn Machine Learning?
Better career options are provided by machine learning
According to recent statistics, the global ML industry was valued at $1.4 billion in 2017, but it is expected to increase to $8.8 billion by 2022, with a compound annual growth rate (CAGR) of 43.6 percent between 2017 and 2022. Furthermore, by 2020, AI and ML have the potential to generate an additional $2.6 trillion in value.
The statistics show that machine learning is currently the shining star of the technology and enterprise sectors. AI and ML applications are spreading to practically every area, including healthcare, BFSI, education, e-commerce, logistics, and many more, as technology advances. This is opening up chances for Machine Learning engineers, cybersecurity analysts, data architects, data scientists, data mining specialists, and cloud architects in a variety of industries. As a result, if you want to be among the industry’s most valuable professionals, you must learn machine learning.
Machine Learning jobs pay a lot of money
Yes, ML jobs pay highly because they are one of the most in-demand skills right now. The average yearly income for ML jobs in India, according to Glassdoor, is between Rs. 4,60,000 and Rs. 11,00,000. Because there is a serious lack of qualified individuals in data science and machine learning, organizations are frequently prepared to compensate deserving candidates with substantial salary packages (far more than the industry average salary standard).
Machine Learning jobs are in high demand
While career opportunities in data science and machine learning are increasing rapidly, there aren’t enough skilled experts to fill these positions. Indeed, according to 2018 figures, over 50,000 jobs in data science and machine learning remained unfilled due to a lack of qualified talent and abilities.
Machine Learning broadens your knowledge and improves your efficiency
As previously said, machine learning is currently one of the most in-demand abilities. Learning about the industry and developing the relevant abilities will not only broaden your knowledge base but will also make you a great asset to any firm.
You can apply your ML knowledge to improve a company’s operations by automating processes, providing real-time customer service, and, of course, cost-cutting.
Machine Learning assists you in better understanding your clients
ML technology and solutions may delve into customer data to understand each consumer segment’s unique wants, preferences, and problem areas. As a result, businesses can develop highly tailored products/services, offers and discounts, and marketing tactics to meet the needs of specific customers.
A corporation can retain long-term relationships with happy and pleased customers in the long run. This has a substantial impact on the company’s ROI. Any professional who can use ML tools and solutions to achieve this goal is a valuable asset to any firm.
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