​​Future of Data Science and Artificial Intelligence

future of data science

Data has penetrated our lives. As companies become more inclined to use data to help them formulate strategies using data, there has been a growing demand for data science professionals. Data science’s growth has ripple effect on other technologies like AI. Over the years, the scope of AI and data science in India has witnessed catalytic growth. Companies are looking for data science professionals who also have expertise in allied technologies like AI, Machine Learning.

As more and more data becomes available, data scientists and AI researchers have more scope to unfold the details hidden behind this data to develop innovative solutions that can help organizations gain a competitive edge.

AI and data science have witnessed a significant rise in India. Some industries that benefit from this technology are healthcare, automobile, and finance. Both these technologies have the potential to increase efficacy, reduce cost, and trigger innovation. Thus it has paved the way for new job opportunities. It is expected that there will be around 11 million new job opportunities in the analytics domain. Let’s explore more about the same.

Key takeaways

  • The analytics industry is going to witness an exponential rise. It will reach a mark of USD 98 billion in 2025 and nearly USD 119 billion in 2026. Thus the future of data science in India portrays a positive picture.
  • Data science jobs are one of the most high-paying jobs in India. The average salary of a data scientist is ₹ 10 Lakhs per annum. And the average annual salary of an average AI engineer is around 8 lakhs per annum.
  • As per the International Data Corporation (IDC), the AI market will also grow with a CAGR of 20.2 percent, and its market size will reach $ 7.8 billion by 2025 from $ 3.1 billion in 2020.
  • The number of AI startups has increased 14 times since 2000. More than 1000 companies in India are working in this sector, thus paving the way for new opportunities.
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Scope of data science in India

As we have mentioned above, the data science role across different industries has increased. With the growth of the Internet of Things to social media, the significance of data science has escalated. There is a huge scope for individuals who have expertise in data science and its applications.

As per the World Economic Forum, data scientists and analysts will be one of the most promising professionals in the years to come. Moreover, there has been a steep rise of 29% in job postings in data science in India, showcasing the progressive future of data science and data science professionals in India and globally.

Skills required to make a career in data science

  • Expertise in data science concept
  • Knowledge of statistics and mathematical formulas
  • Data visualization tool application
  • Programming in Python
  • Big data

Jobs and career in data science

  • Data Science
  • Data Engineer
  • Statistician
  • Data analyst
  • Data Architect
  • Machine learning engineer
  • Business analyst

Scope of AI in India

Artificial intelligence is a progressive industry that focuses on creating machines that work in the same manner as the human brain. With the backing of AI, machines can work without human intervention. Some of the applications of data science includes resolving customer queries, generating awareness, interacting with customers, and others. Chatbots are one of the key expanses of AI that companies are widely using.

The application of AI has also expanded to different domains like healthcare, finance, insurance media, marketing, and others. Hence, we can conclude that the future of artificial intelligence is positive and progressive.

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Skills required to make a career in AI

  1. Neural network
  2. Robotics
  3. Machine learning
  4. Visual image recognition

Jobs and career in Artificial Intelligence:

  • Artificial intelligence engineer
  • Robotics scientist
  • Machine learning engineer
  • Big data engineer
  • Software engineer
  • AI research scientist
  • Business Intelligence Developer

Closing thoughts

Companies across the different industrial spectrum continue exploring new ways of implementing data science and artificial intelligence to improve their business. The core objective is to make the business more profitable and productive. Hence, there has been a significant rise in the demand for data science experts and AI experts. Having a certification in this will help you land a good-paying job opportunity.

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Pickl.Ai provides a great opportunity to gain certification in data science and artificial intelligence with its online courses. These courses have been designed by industry experts, ensuring complete proficiency in this technology. Register today and take a new leap in your career.