Find out why job opportunities for AI specialists continue to grow.
Written by MSc Artificial Intelligence Programme Director, Rameez Kureshi.
Why do we need artificial intelligence?
The amount of data produced today, by both humans and machines, considerably exceeds the human capacity to comprehend, understand, and base complex decisions on that data.
In order to make data-based decisions, artificial intelligence (AI) can be both effective and efficient. By calculating combinations and permutations using machine learning and deep learning algorithms AI has become the cornerstone for the future decision-making system. In the 21st century, AI can perform several complex tasks, such as undertaking business processes and strategic decisions.
With the increasing use of telecommunication networks, robots and drones in defence, medical devices in healthcare, smart cities offering useful services and individuals' personal computers performing complex calculations, research in AI has grown exponentially over the past four decades.
Currently, AI technology is being used in a wide range of industries, including manufacturing, banking, healthcare, education, and urban planning, and gaining more popularity across the globe.
AI technology can be applied to help humans understand more about themselves through self-driving cars and smart fridges; improve businesses by analysing their data in real-time to analyse trends, or help tackle the grand challenges facing our planet with robotic spacecraft exploring Mars.
“If it takes 200 years to achieve artificial intelligence, and then finally there is a textbook that explains how its done, the hardest part of that textbook to write will be the part that explains why people didn’t think of it 200 years ago…” - John McCarthy (1927-2011)
How does AI impact our daily lives? Read an analysis by MSc AI Programme Director Rameez Kureshi:
Why we need AI specialists
Even while AI is improving and becoming more popular, many industries are still unable to use this revolutionary technology effectively. Why?
There are several reasons an organisation would be wary of implementing AI. According to O’Reilly, 23% of respondents from industries said the main reason they haven't further adopted AI is that their corporate culture does not understand the need for it. Other worries include not being able to make good business cases, not having enough data or people with the right skills, and so on.
Demand for AI specialists around the world is on the increase. This is the result of a range of factors and has led companies to employ more and more workers who are specialised in artificial intelligence.
Many technological advancements have been made over the years which have helped make AI experts more skilled and competent. However, with the rapid advancement of technology comes the challenge of finding people who can handle it effectively.
According to LinkedIn's Jobs on the Rise report, AI candidates are unlikely to be hired unless they have applied knowledge of the field with a Bachelors or Masters degree, skills in programming languages such as Python, and an understanding of platform-specific AI models using machine learning or deep Learning.
Based on the market research, the current AI market size is valued at USD 136.6 billion in 2022 and is projected to reach USD 1,811.8 billion by 2030, growing at a CAGR of 38.1% from 2022 to 2030.
The demand for AI specialists is growing at an incredible rate in all domains, despite the job vacancies not matching this number. A report published by The Wall Street Journal revealed that in the US, AI job postings increased by over 45% at the start of 2021 when compared to the year before. But AI graduates are scarce, meaning your expertise will make you a sought-after hire for many employers.
Discover more about Hull’s online MSc in Artificial Intelligence, which equips you with the expert technical and business knowledge to succeed as an AI specialist:
Rameez Kureshi is Programme Director for the MSc in Artificial Intelligence. His research interests include Industry 4.0 and sustainability and smart cities, and by combining his expertise in Artificial Intelligence, Data Science, and the Internet of Things (IoT) he tackles environmental and societal challenges.