- The AI market size in 2022 was valued at $142 billion, and it is expected to reach $207 billion this year, according to Statistica.
- However, despite these positive numbers and information, we cannot deny the fact that there is still a shortage of professionals focusing on AI-related fields.
- As AI tools continue to invade and be integrated into various industries, the demand for AI professionals is expected to grow exponentially.
In our recent comprehensive guide to the 10 highest-paying AI jobs, it was noted that social networking giant LinkedIn included AI practitioners and machine learning specialists on the “Jobs on the Rise” list for 2021, with the current AI-related jobs open on the platform reaching up to 15,000.
In fact, the AI market size in 2022 was valued at $142 billion, and it is expected to reach $207 billion this year, according to Statista.
Further, the report also emphasized that the main drivers of AI adoption across a wide range of industries, such as technology, healthcare, finance, education, and entertainment, are the rising initiatives in AI research and the advancement of AI technology, including machine learning, natural language processing, and computer vision.
However, despite these positive numbers and information, we cannot deny the fact that there is still a shortage of professionals focusing on AI-related fields. This could be the reason why there are still ethical and social issues related to AI tools in this modern era.
But this industry still has a lot of potential, as AI careers are flexible and diverse, as they require a combination of technical and non-technical skills and can involve various tasks such as research, development, analysis, design, and implementation.
Get a glimpse of the future trends in AI careers as predicted by industry experts. Stay ahead of the curve with this comprehensive guide on BitPinas.
Future Trends in AI Careers: What Experts Predict
In 2021, a report was released by the World Economic Forum (WEF) based on a survey that gathered 150 experts to discuss the positive future of AI.
Economically, the experts collectively agreed that the global economy will soon be 10 times larger because AI has massively boosted productivity. The presence of AI is also expected to make the labor market flexible, which means that people will now have time to find new roles in newly created professions.
And because the presence of AI will boost the global economy, an increased demand for AI-related professions should be expected. Of course, as AI technology becomes more prevalent, businesses in various industries will require individuals who can develop, implement, and maintain AI systems.
Meanwhile, speaking about humanity, it is projected that society will be the one to decide on automation, meaning, AI tools will be more human-centric. Companies would also focus on developing AI tools that benefit humanity, and they would do so without holding excessive economic or political power. And because these AI tools will be focused on making humans’ tasks easier, greater social engagement will surely be supported.
However, the automation of humans’ daily tasks could lead to the elimination of some existing jobs, but it will surely create new opportunities. Jobs that involve creativity, problem-solving, critical thinking, and human interaction will become more important, as these are areas where AI currently lacks expertise.
Given the evolving nature of AI, continuous learning will be crucial. New algorithms, techniques, and frameworks will emerge, requiring professionals to stay updated. Having adaptability and a growth mindset will be essential in this ever-changing field.
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The Most Promising AI Careers in the Future
AI is a broad field, and specialization in specific areas will become more common.
The algorithm engineer is the first on our list. An algorithm engineer is one who develops and deploys algorithms that can solve various problems in different domains. For context, the algorithm is the thing that enables machines to perform tasks that normally require human intelligence, such as natural language processing, computer vision, speech recognition, and machine learning. Its projected annual salary in 2030 could reach up to $260,000.00.
Next is a computer vision engineer. A computer vision engineer is one who designs computer vision systems and applications that can solve various problems in different domains. For context, computer vision is the field that deals with enabling machines to understand and interpret visual information, such as images, videos, and 3D scenes. Its projected annual salary in 2030 could reach up to $390,000.00.
A machine learning engineer is the third on our list. A machine learning engineer is one who creates machine learning systems and applications that can solve various problems in different domains. For context, machine learning is the thing that deals with enabling machines to learn from data and experience, and to improve their performance over time. Its projected annual salary five years from now could reach up to $520,000.00.
The fourth one is a data scientist. A data scientist is one who analyzes and interprets data to solve various problems in different domains. For context, data science is the field that deals with extracting insights and knowledge from data using various methods and techniques, such as statistics, machine learning, data mining, and visualization. Its projected annual salary five years from now could reach up to $440,000.00.
And lastly, a natural language processing engineer. A natural language processing engineer is one who develops natural language processing systems and applications that can solve various problems in different domains. For context, natural language processing is the field of AI that deals with enabling machines to understand and generate natural languages, such as text and speech. Its projected annual salary five years from now could reach up to $300,000.00.
Skills for the Future: Preparing for AI Careers
Of course, the future of AI jobs will require a combination of technical and domain-specific skills, including a strong foundation in computer science, mathematics, and statistics.
Aside from these, it is also important to have in-depth knowledge of programming languages, most preferably Python, R, Java, C++, and Julia.
However, depending on the role and industry, it is also a must to hone other skills such as communication skills, creativity skills, problem-solving skills, ethical judgment skills, and collaboration skills.
The skills required, mentioned above, are important because they enable AI professionals to perform their tasks and roles effectively and efficiently. They also help AI professionals to keep up with the fast-paced and dynamic nature of the AI field, which is constantly evolving and advancing.
(Read more: 10 Highest-Paying AI Jobs: A Comprehensive Guide)
The Impact of Future Trends on Current AI Jobs
As AI tools continue to invade and be integrated into various industries, the demand for AI professionals is expected to grow exponentially.
In fact, according to the online publication Business Solution, AI is said to eliminate 85 million jobs while simultaneously creating 97 million new ones by 2025, and this is a huge number.
Maybe we could see educational platforms that will offer crash courses and big classes that will teach the basic skills needed to be an AI professional someday. Or we could even see established educational institutions open new college programs for these job titles.
Lastly, we could see more companies preparing to integrate and maximize the benefits of using AI tools and hiring AI professionals. With this, the demand will surely go up, together with the salary offer.
Let me end with this statement from WEF’s report:
“The future of work is not predetermined; it is up to us to shape it.”
This article is published on BitPinas: Future of AI Careers: Top Trends and Job Prospects According to Experts
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.