By Rohit Sethi, Director, ESS Global
In a typical scenario, when picking a career path, we seek recommendations from an astrologer, family priest (Pandit Ji), or our uncle who got settled abroad many decades ago. Well, they have their importance in our lives, yet, it is worth noting the behaviour of the job market and what analysts and economists are reporting on situations ten years down the line. We should also listen to what the employers are saying both here and in other countries.
In our effort to make more sense of the corporate world and job market, we start a series, Careerology. It will help aspiring students pick a career and a programme that promises to give maximum return and a fulfilling life. Here is our first take on this effort.
From self-driving cars to facial recognition on your phone, artificial intelligence transforms the world around us rapidly. Industries globally are changing the way they are working. This change is seen not only in the corporate world but in the education sector as well. This brings us to a question, is a career in AI the right path for students? This question is also relevant to those aspiring to study in Australia or the UK.
The future of AI
Before we get into a discussion about AI as a career choice let’s take a look at some numbers. By the end of this decade, AI will be contributing $15.7 trillion to the global economy. This will be more than the combined output of India and China. A study has shown that the demand for skills in AI and machine learning has increased by fivefold and that there are six times more AI roles available in Britain than the number of candidates available to fill them.
The exponential growth will result in a surge in job opportunities across various sectors, including robotics, finance, healthcare, and even creative fields such as marketing and design.
Not long ago, picking a career path was pretty much straightforward, as this decision was often based on intuition or what others have done in the past. In the present time, a career choice should be based on what the future demands.
Globally, the demand for tech-AI jobs has increased nine times and for broad-AI, it has increased by 11 times. AI development has resulted in two major changes in the job market, one is the demand for professionals who are proficient in the field, and the second is the demand for people who can collaborate as a team leader. The second job profile will require strong communication and leadership skills with a fair amount of knowledge about AI.
A career profile suitable for diverse industry
Most of the career options are industry-specific, someone working in the healthcare industry cannot switch to the engineering sector. However, pursuing a career as an AI professional will make you suitable to work in diverse industries. There are two aspects of being a professional suitable for diverse industries.
One is the fact that artificial intelligence will find its use in almost every industry. Whether it is infrastructure, including transportation and electricity, or agriculture and healthcare, demand for AI professionals will be there in every field. From improving safety to increasing functionality and efficiency, and allocation of the right resources at the right time, AI is there to change the way we work. Moving on to the second aspect, it is easy for AI professionals to switch from one industry to another, with little to no training.
Pursuing a technically intensive study programme
Having the infrastructure and facilities to educate and train students on technically intensive study programmes is not everyone’s cup of tea. Developed economies like the UK and Australia are more acclimatised to AI technology, and the programmes offered by universities there are better tuned to the future demands of the industry.
Framing a career in a field that is highly technical requires a high level of competency, which can be honed by pursuing a degree from a good institution. Not every institution will be tuned to training people to meet the current and future demands of industries. You can refer to the list below for some noteworthy options :
1 Deakin University- Master of Data Science (Professional)- Data Analysts, Analytics Programmers, Marketing Managers, Analytics Managers, Analytics Consultants, Business Analysts, Management Advisors, Management Analysts, Data Scientists, Business Advisors and Strategists, Market Research Analysts and Marketing Specialists
2 Western Sydney University-Master of Artificial Intelligence Solutions Architect, Machine Learning- Specialist, Data Engineer, Data Scientist, Big Data Machine Learning Specialist
3 University of Strathclyde- MSc Data Analytics Junior Data Scientist at V.Group, Software Development Engineer – Machine Learning at RBS, Business Analyst at Scottish Power, IT Graduate at Scottish Power, Data Scientist at Solita Scandinavia.
4 Northumbria University- MSc Business Analytics- Business Consulting, Supply Chain Management, Data Science, Project Management, Analytics, Management, Information Systems, Operations Management
A Programme That Will Take You to Places
AI is revolutionising the world and it is the right time to capitalise on the changing scenario. Think ahead of being a truck driver or a job in a restaurant when you plan to study in Australia or the UK. Don’t go just by recommendations from friends and relatives. Even though they always think of your well-being, their advice may not be based on the right information about the job market.