Machine Learning (ML) and Artificial Intelligence (AI) have left no stone unturned in spreading their tentacles everywhere. From Apple’s iconic Siri, IBM’s Watson to Google’s state-of-the-art products, all have become an indispensable part of our lives. The impact of these AI-powered products is felt in almost everything we do as part of our daily lives. Despite all the positives, these two technologies have been at the forefront of job cuts of around 25 percent. Although ML and AI are snatching the jobs away, businesses and various organizations are harnessing the power of these technologies to augment their productivity and profitability. This article explores how ML and AI are having an indelible impact on businesses as well as on the lives of Software Industry personnel.
Artificial Intelligence and Machine Learning
25% Job Obliteration Due to ML and AI: But a 35% Increase in Productivity!
By exploiting the power of ML and AI, MNCs and many high-growth startups are introducing revolutionary products to the market. However, on the flip side, these disruptive technologies have started obliterating jobs. In the US alone, nearly 25 percent of people are on the verge of losing their jobs. According to the recent survey conducted by the International Federation of Robotics, it is estimated that, by next year, a whopping 35 million robots will soon leave many industrial workers jobless. As a result, to escape from this devastating tsunami of job cuts and to stay relevant in the industry, professionals across the globe have started upskilling their ML and AI knowledge through industry-recognized Machine Learning courses. Now, to attain proficiency in Machine Learning and become career-ready, you should consider enrolling yourself in Intellipaat’s Machine learning course.
Applications of Machine Learning and Artificial Intelligence in Various Sectors
Data has emerged as the new oil of present times. Many governments across the world have made heavy investments in agriculture and its allied sectors. However, in the last 12 months, the Indian government has made significant inroads into Machine Learning and Artificial Intelligence, by allocating a staggering US$480 million for its critical sectors like agriculture, education, smart mobility, etc.
Machine Learning and Artificial Intelligence’s Tryst with Agriculture
Machine Learning and Artificial Intelligence are the key drivers of the world economy. Interestingly, sectors like agriculture and its allied sectors will have significant benefits with this move by the government. Furthermore, Machine Learning and Artificial Intelligence can be employed in the following areas to improve productivity and efficiency:
- Soil health monitoring
- Crop sowing
- Weed and pest control
- Crop harvesting
- Supply chain management
Product Recommendations in the eCommerce Industry
The eCommerce industry is exploiting Machine Learning and Artificial Intelligence technologies to the hilt by giving out product recommendations based on the purchase history of customers.
Filtering Spam and Unwanted Emails
To curb the menace of spam messages, email service providers make use of Machine Learning algorithms, thus, weeding out these unwanted messages.
Preventing Data Redundancy
Inaccurate and duplicate data can cause a lot of problems to businesses. However, software programs are now equipped with Machine Learning algorithms to prevent the entry of duplicate data.
Cybersecurity to Curb Terrorist Activities
To encounter the growing threat of malicious and potentially unsafe software programs, Machine Learning algorithms are used for creating antivirus programs.
Boosting Image Processing Algorithms for Multiple Purposes
From hand-held devices to biometric devices, Machine Learning algorithms are embedded into numerous devices. Leveraging these algorithms, the devices are easily able to identify images.
Vanquishing Diseases through Machine Learning
Healthcare has been a strong promoter and a very early adopter of technologies. Consequently, potentially harmful diseases and ailments can be diagnosed beforehand and treated in time by applying various Machine Learning techniques.
Regulating Financial Frauds
Fintech industry pundits use modern-day AI techniques to predict capital movements and thereby control the risks of financial fraud.
Digitizing Real Estate
The introduction of Artificial Intelligence has greatly improved the efficiency of operational tasks and the decision-making process in the real estate industry. Some of the most recent innovations include:
- Virtual property tours: Virtual property tours are designed for giving a digital walk-through of the entire property.
- Virtual assistants: These digital assistants assist customers by providing information related to property pricing, specifications, etc.
Lucrative Prospects in Machine Learning and Artificial Intelligence
The fields of Machine Learning and Artificial Intelligence offer some of the trendiest jobs today. According to one of the world’s leading job sites, Glassdoor, a Machine Learning Engineer in India pockets an annual pay in the range of ₹12–13 LPA. As of December 4, 2019, the national annual average stands close to ₹40–41 LPA for a Machine Learning Engineer. Also, in the list of plum jobs in the IT industry, the ‘Data Scientist’ job profile stands sky high with a jaw-dropping average salary of US$95,000/year.
Opportunities are virtually limitless for Machine Learning professionals. Here, are the top ML profiles:
- Data Scientist
- NLP Engineer/Computational Linguist
- Machine Learning Engineer
- Software Developer/Software Engineer
- Data Analyst
- Data Engineer
- Machine Learning Scientist
- Data Architect
- Machine Learning Architect
Get Certified in Machine Learning and Artificial Intelligence and Surge Ahead in Your Career
The emergence of Machine Learning and Artificial Intelligence has paved the way for rapid advancements in almost every sector. At the same time, there are innumerable challenges and unforeseen problems for professionals and companies to devise new algorithms to encounter them. To dive deep into the intricate world of Machine Learning and Artificial Intelligence, consider enrolling in our industry-recognized Machine learning course.
Photo Credits
Artificial Intelligence and Machine Learning – Mike MacKenzie on flickr – Some Rights Reserved
Guest Author Bio
Vaishnavi Agrawal
Vaishnavi loves pursuing excellence through writing and has a passion for technology. She has successfully managed and run personal technology magazines and websites. She currently writes for IntelliPaat, a global training company that provides e-learning and professional certification training.
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There’s no denying the advancements that have been made thanks to machine learning and artificial intelligence. They have proven to be useful in terms of improving productivity, ensuring that more work gets done. Both of these types of technology will prove useful across all industries, real estate, technology, and marketing, just to name a few.