The next step in the evolution of the technological workforce is a large scale adaptation of machine learning technology. This thought makes total sense because the essentially academic subject has now claimed the interest of industrialists. Over the period of next 12 months 70% of all analytics companies may adapt AI hence we can expect to have a serious surge in the demand for machine learning professionals.
Rapid market growth
Technological development and massive data generation have worked in tandem to make machine learning a necessity as well as a brilliant possibility. The market for machine learning is predicted to grow at a compound annual rate of 44.1% to reach an 8.1 billion mark by 2022. While the overall analytics market is growing at an approximate CAGR of 28% this growth rate for machine learning technology is fascinating.
The use of machine learning is being spread through a myriad of different industries. With each step of development more businesses are adapting Machine Learning.
- Healthcare industry is finding great uses of machine learning technology. Diagnosis and medication has become more accurate with the help of Machine Learning which can link the symptoms with thousands of previous records and fetch out the perfect solutions.
- The logistics industry is using the extensive amount of data produced by each transferred good in order to make sure the safe and timely deliverance of goods in future.
- Fraud detection in the financial fields has improved manifold with the use of machine learning and predictive analytics. Finance and banking is arguably the largest sector that has been using analytics.
What started with essentially academic interest has now grown to be the most promising fields of business. The demand for efficient professionals has understandably grown manifold. Machine Learning training combined with a background of computer science, Maths or statistics makes you eligible for a lot of emerging positions.
A lot of universities have included machine learning in the curriculum for computer science students. The conventional education however, may not suffice for professional purposes. The problem solving skills need to be learnt from industry professionals. A number of analytics institutes in Delhi and Bangalore are offering advanced machine learning training. These courses allow you a certain level of industry exposure which can go a long way in your career.
The paradigm of machine learning algorithms has grown at a magnificent pace and may say that it is still at an initial stage of development. Deep learning combined with extraordinary computational capabilities has allowed the tech giants like Google and Amazon to achieve immense success. Apart from the commercial and technological success machine learning has had a deep impact on a social and political level. It is becoming indispensable both in the public as well as the private sectors. If there is one technology that you should be trained in, it should be machine learning, keeping the current state of the market in mind.