Top AI and Machine Learning Trends for 2019

There’s never been a more exciting time for AI and machine learning, and 2019 is boding well for the rich lineup of applications these revolutionary technologies are offering. Companies are finding that AI-driven processing of data yields not only more efficient business processes but better overall business results. And those companies that invest in employee upskilling will find themselves well-positioned to exploit new market opportunities in the coming year. 

The following are some trends and opportunities we see on the horizon.

Double-digit Market Growth Will Continue

Adoption of AI, machine learning, deep learning, robotic process automation (RPA) and other intelligent technologies will continue at a robust clip over the next several years. The broader AI market is expected to exceed more than $191 billion by 2024 at a CAGR of 37 percent. That’s a consistently strong growth year over year for the next six years at least, indicating rapid development cycles for companies that develop the applications and high demand by the companies that use it to build more intelligent businesses.

Acelerate your career with the Post Graduate Program in AI and Machine Learning with Purdue University collaborated with IBM.

That Means High Impact on AI Jobs 

As organizations race to implement AI, job growth in these sectors is keeping pace. According to several studies by Indeed Hiring Lab, demand for workers with AI talent has more than doubled over the past three years, with the number of AI-related job postings as a share of all job postings up about 119 percent. And the pace is picking up. Year-over-year growth in the volume of AI-related job postings, as a share of all job postings, measured 31.6 percent last year compared to just 20.1 percent the year before, largely driven by postings for machine learning engineers and computer vision engineers. 

And what about those worried that AI will drain jobs from the human workforce? Gartner says not to worry, predicting that AI will create 2.3 million jobs vs. 1.8 million jobs eliminated by 2020. The AI phenomenon is poised to raise the overall skillsets of the global workforce, improving productivity and creating millions of more highly skilled workers at every level, from entry-level and mid-level to management roles. 

AI Will Become Fully Integrated with Data Science

Machine learning and AI are becoming synonymous with data science and analytics. According to Indeed, the terms “AI” and “machine learning” were included in the job descriptions for about 75 percent of data scientist jobs, and the top two paying jobs were not AI-specific titles (such as AI engineer) but rather in data science (director of analytics and principal scientist). AI and machine learning will continue to play more integrated roles in jobs that leverage data for analysis and insights.

Interest Will Grow with Businesses – and Consumers

Based on PwC research, 72 percent of business leaders believe AI provides a business advantage, and top-performing companies are twice as likely to harness this technology in their marketing than their lower-ranked peers, according to Adobe. It makes sense that enterprises are driving the majority of growth in the AI market, as they use intelligent technologies to build better products and more effective businesses. But consumers will be the ultimate beneficiaries of AI. The PwC study also reports that consumers have an increasingly positive outlook on AI too. Consumers believe that AI will help provide major solutions they’re concerned with, including cyber security and privacy (68 percent), global health and well being (56 percent) and solving complex problems that plague human society (63 percent)

Adoption Will Be Seen in New and Old Industries 

Healthcare companies are already big users of AI, and this trend will continue. According to Accenture, the AI healthcare market is expected to hit $6.6 billion by 2021, and clinical health AI applications can create $150 billion in annual savings for the U.S. healthcare economy by 2026

In retail, global spending on AI will grow to $7.3 billion a year by 2022, up from $2 billion in 2018, according to Juniper Research. This is because companies will invest heavily in AI tools that will help them differentiate and improve the services they offer customers

In cybersecurity, the adoption of AI has spurred a boom in startups that have raised $3.65 billion in equity funding in the last five years. Cyber AI can help security experts sort through millions of incidents to identify aberrations, risks, and signals of future threats.

And there is even an opportunity brewing in industries facing labor shortages, such as transportation. At the end of 2017, there was a shortage of 51,000 truck drivers (up from a shortage of 36,000 the previous year). And the ATA reports that the trucking industry will need to hire 900,000 more drivers in the next 10 years to keep up with demand. AI-driven autonomous vehicles could help relieve the need for more drivers in the future. 

Skills Training Will Make the Difference

In the end, skills training will make all the difference for organizations that wish to embrace the AI revolution and stay competitive. Upskilling courses for AI engineers, machine learning experts, and deep learning experts are designed to give data-oriented and process-oriented professionals that extra edge. 

As the demand for AI and machine learning has increased, organizations require professionals with in-and-out knowledge of these growing technologies and hands-on experience. Keeping the innate need in mind, Simplilearn has launched the Post Graduate Program in AI and Machine Learning with Purdue University in collaboration with IBM that will help you gain expertise in various industry skills and technologies from Python, NLP, speech recognition, to advanced deep learning.

The comprehensive Post Graduate Program provides you a joint Simplilearn-Purdue certificate, and also, you become entitled to membership at Purdue University Alumni on course completion. IBM is the leading player in AI and Data Science, helping professionals with relevant industry exposure in the field of AI and Data Science, providing a globally recognized certificate, complete access to IBM Watson for hands-on learning and practice. The game-changing PGP program will help you stand in the crowd and grow your career in thriving fields like AI, machine learning and deep learning.

About the Author

Stuart RauchStuart Rauch

Stuart Rauch is a 25-year product marketing veteran and president of ContentBox Marketing Inc. He has run marketing organizations at several enterprise software companies, including NetSuite, Oracle, PeopleSoft, EVault and Secure Computing. Stuart is a specialist in content development and brings a unique blend of creativity, linguistic acumen and product knowledge to his clients in the technology space.

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