The surging need for optimization and automation across various industries, the expanding use of AI in customer engagement, and the surge in AI research funding are significantly influencing the global economy. This influence is changing corporate operations and client interactions. Simultaneously, AI’s ascendance has notably reshaped the employment landscape, making careers in AI among the most sought-after.
Data from AltIndex.com suggests that by 2027, professions in AI and machine learning are poised to be the most rapidly expanding worldwide.
More than One Million New AI and Machine Learning Specialists on the Market by 2027
With 75% of businesses planning to integrate big data, cloud technology, and AI within the next four years, these technologies continue to be major influencers in the job market. In the past year, artificial intelligence and generative AI have drawn considerable attention due to concerns over job displacements and predictions that AI could automate over half the tasks in 20% of the workforce in the ensuing years. Nonetheless, careers in AI remain a top choice for professional growth in the upcoming years.
The World Economic Forum’s Future of Jobs Report anticipates AI and machine learning specialists to be the quickest growing careers by 2027, expanding at a rate significantly higher than other fields. These roles are expected to see a 40% increase by 2027, resulting in over one million new specialists in the market.
Furthermore, the push for environmental sustainability has positioned sustainability specialists as the second-fastest growing career in the next four years. The report also highlights the importance of analytical skills in various roles, including business intelligence, information security, and data analysis. The WEF forecasts suggest pursuing careers in FinTech or robotics engineering for those seeking job stability in the future.
AI and Machine Learning Specialists to Become a Part of Half-a-Trillion-Dollar Industry
The prominence of AI jobs as potentially the fastest-growing occupations in the next four years aligns with the impressive expansion of the AI market.
A Statista survey reveals that the global AI industry has more than doubled in three years, reaching a $240 billion valuation and encompassing a quarter of a billion users in 2023. This figure is projected to increase by 27% to $305.9 billion in 2024. As businesses and consumers globally adopt AI technologies, the market is expected to grow at a CAGR of 17%, reaching a value of half a trillion dollars by 2027.
Machine learning, as the largest segment of the AI market, is forecasted to grow by 122% during this period, reaching a value of $355 billion, up from $158 billion in the previous year. Generative AI, a subset of machine learning, is anticipated to account for a quarter of the total market value by 2027, an increase from 18% in 2023.
Statistics also indicate that approximately 314 million people will use AI tools in 2024, an increase of nearly 60 million from the previous year. With an annual adoption rate of about 60 million people, the AI market is on track to surpass half a billion users by 2027.
The full story and statistics can be found here: https://altindex.com/news/ai-and-machine-learning-jobs-growth
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