Future Scope Of Artificial Intelligence & Machine Learning In India

Ever wondered how Siri or Alexa answers your queries or how Google or Netflix recommends notifications based on your searches. All this is a function of Artificial Intelligence.

What is Artificial Intelligence?

The Artificial Intelligence is a specialized field in computer science that involves developing of intelligent machines that simulate human intelligence without being pre-programmed. Instead, these intelligent machines, computers & robots use machine learning algorithms, including “Reinforcement Learning Algorithms and Deep Learning Neural Networks”to learn and copy problem-solving &decision-making abilities of the human intellectual mindbasis historical data.

Types of AI:

• Reactive
• Limited Memory
• Theory of mind
• Self-aware.

Industry Scope:

• In India in 2020, the AI market reached INR 472.73 Bn and is estimated to grow at a CAGR of 24.17%rising to INR 2113.60 Bn by 2027
• In 2020, the Global machine learning market was pegged at INR 839.55 Bn and is predicted to grow at a CAGR of 37.16% to reach INR 7632.45 Bn by 2027.

Scope of Artificial Intelligence & Machine Learning:

Artificial Intelligence has immense potential to affect a change in every industry or sector, thus will act as a catalyst in economic growth leading to exponential benefits to the society. Therefore, there has been a growing demand for courses that offer diploma in Artificial Intelligence. Following is the scope in different industries:

Education: Artificial Intelligence & machine learning will enhance the effectiveness teachers as well as instructors. Numerous mundane and repetitive jobs including attendance, unbiased grading etc. can be taken over by AI. Furthermore, AI will be used to customize the ways of imparting education basis the learning as well as understanding capability of the student. Chatbots and IVRS systems can be used to answer questions as well explain the concepts.

Healthcare: The healthcare sector is the most challenging sector with dearth of medical services and qualified doctors, nurses, technicians and infrastructure especially in tier1 and tier2 towns. AI and machine Learning will help in providing adequate medical services to these areas. Additionally, this will also help in better efficiency and hence affordability. Automated bots and robots can be trained to take critical decisions, perform complicated operations in crucial times, reduce errors, speedy recovery and personalised care as well as design & develop innovative medical equipment.

Agriculture– Significant population in India depends on agriculture for their livelihood. These farmers follow conventional methods of farming. But the changing environment and increased demand has put severe pressure on land. However, the application of AIwill have substantial impact on agriculture - enhance efficiency,improve sowing techniques, thermal imaging cameras will help in use of adequate quantity of water in irrigation and reduction in water wastage, identify not only potential threats andproblems but also solutions, analyze parasite & prepare effective control and forecast climate as well as consumer behaviour to offer better demand-supply details to increase productivity etc.

Banking and Finance: Banks and other financial agencies are utilizing AI technology to offer customer support, detect frauds as well as anomalies and multi-task etc. to change the face of finance sector.

Cybersecurity: Data is modern day treasure trove. There are people spending enough time and intelligence in stealing it. To counter it, organisations are employing AI enabled cybersecurity measures to protect it. The AI not only detects, but also analyze threats and offer an understanding for making informed decisions.

Manufacturing sector: Artificial Intelligence-based solutions are being developed to enhance manufacturing industry. In fact, lots of hazardous jobs are being handled by AI. Predictions of demand and supply basis analysisof datais being done by Artificial Intelligenceto not only optimise production but to also forecast future expansions.

So hurry register now before you miss the train to future.