Machine Learning Career and Future Scope

31-Aug-2022

Machine Learning has carved an important space in this 21st-century technological landscape and is among the top career choices. The future scope of machine learning is also poised to generate drastic advances in the automation world. For anyone interested in the field will have a promising future with numerous lucrative job options.

Importance of Machine Learning

A lot has been talked about regarding the extent of Machine Learning, its uses, employment, remunerations, etc. However, few would know about machine learning and its nuances, its importance, and its application in our daily life. This post while covering the future scope of machine learning will also explain the importance of machine learning and how its application is integrated into our lives.

The investment industry has consistently generated profits. In the past, investing the money needed in-depth knowledge of both home and foreign markets. Market trends used to be manually researched and analyzed. Time-consuming manual analysis was necessary.

However, as the application of machine learning grows, we can now find numerous mobile applications that give us support for investments in a variety of areas within a matter of seconds.

Understanding the future scope of machine learning through different sectors

The application of Machine Learning has reached numerous sectors and is not just restricted to the world of investments. Instead, it is growing in all industries, including banking and finance, IT, media and entertainment, gaming, and the automobile sector. Numerous sectors are attempting to revolutionize the world along with academics and researchers given the expanse and reach of Machine Learning. Let us analyze them in depth in the following discussion.

Automobile Industry:

One sector where machine learning is thriving and redefining what constitutes "safe" driving is the automotive industry. A select few significant businesses, including Google, Tesla, Mercedes Benz, Nissan, etc., have made significant investments in machine learning to develop cutting-edge breakthroughs. Tesla's self-driving vehicle is the best in the business, though. Machine learning, high-definition cameras, IoT sensors, voice recognition systems, etc. are applied in the development of these self-driving vehicles.

Robotics:

Robotics is one of those disciplines that have garnered consistent attention from the general public as well as those of researchers. The first invention came about with George Devol's programmable robot in the year 1954, by the name Unimate. Then followed the twenty-first-century AI-robot Sophia produced by Hanson Robotics. All these inventions have been made feasible by Machine learning and Artificial Intelligence.

Robots that mimic the human brain are still being developed by scientists around the globe. In this research, a variety of technologies are being used, including neural networks, AI, ML, computer vision, and many more. We might encounter robots in the future that are capable of carrying out a variety of duties much like a human.

Quantum Computer:

The machine learning field is still in its nascent stage with a multitude of room for improvement now and in the near future. Machine learning will significantly be advanced by Quantum computing where computing is carried out by applying properties of quantum mechanics like entanglement and superposition mechanical properties.

A quantum system can be constructed that simultaneously exhibits numerous states by employing the quantum phenomena of superposition. On the contrary, entanglement is the circumstance in which two different states might be related to one another. It helps to express how the characteristics of a quantum system relate to one another.

Advanced quantum algorithms that process data quickly are used to build these quantum devices. The processing power of machine learning models is increased via quick processing. The future application of machine learning will thereby increase the automation system's processing capability, which is employed in many different technologies.

Computer Vision:

As the name implies, computer vision gives a computer or other machine the ability to see. The statement made by Jeff Dean, head of AI at Google, that "the improvement we've achieved from 26% mistake in 2011 to 3% error in 2016 is highly meaningful" comes to mind in this situation.

Computer vision aims to enable a machine to detect and examine photos, movies, graphics, etc. The advancement of artificial intelligence and machine learning has made it possible to accomplish computer vision's objective more quickly.

Overview of Machine Learning Scope and Salary

When it comes to work prospects, Machine Learning has a higher scope than other career disciplines both in India and elsewhere in the world. A Number of over 2.3 million is estimated to be employed in the domain of Machine Learning and Artificial Intelligence by 2022 as predicted by Gartner. Additionally, the pay for a machine learning engineer is significantly higher than the pay for other job types.

The average pay for a machine learning engineer in the US is $99,000, according to Forbes. It is 865,257 in India.

The machine learning salary may differ given the size of the company and location. In India Machine learning scope and salary will look like as shown below:

Machine Learning – ₹706,169
Python – ₹612,684
Deep Learning – ₹754,250
Natural Language Processing(NLP) – ₹697,670
Computer Vision- ₹736,976

The post is a concise guide to understanding the future scope of Machine learning and the many applications through which it will revolutionize the world.