Artificial intelligence, or AI, is already being utilized in a lot of fields in 2024. You have probably come across self-driving cars, voice assistants, auto-translation tools, and many more such technologies that use AI. Artificial intelligence is one of the most exciting and fast-growing fields today. Choosing a career in AI presents excellent prospects for the future. That is why a B.Voc in Artificial Intelligence is the best career option in 2024.
The AI industry worldwide has expanded at a rapid rate over the past few years. As per experts, the global AI market will keep expanding rapidly in the coming years. In numbers, the current worth of the total worldwide AI market is $136.55 billion in 2022. Experts predict that this market will grow at a 37.3% compound rate annually from 2023 to 2030. By 2030, the global AI market value can reach $1,811.8 billion.
This huge rise in AI globally indicates that AI is going to be the primary technology in the future. Skills in AI are already in high demand across industries. As more companies use AI, the need for trained AI professionals will rise significantly over the next ten years. This opens up many opportunities for those looking to build a career in AI in 2024 and later.
Source: PWC-Sizing The Price
Mirroring global trends, India has also witnessed a spike in the adoption of artificial intelligence technology. According to reports, the Indian artificial intelligence market was valued at $680 million in 2022 and is projected to expand rapidly in the coming years.
Driven by the swift pace of digital transformation across sectors like financial services, healthcare, education, and more, the AI market in India is forecast to grow at a CAGR of 33.28% from 2023 to 2028. The market size is expected to reach $3,935.5 million by 2028 from the current $680 million.
Further, expenditure on artificial intelligence by businesses in India grew significantly by 109.6% to $665 million in 2018 over the previous year. Industry analysts predict the AI market to grow at a remarkable CAGR of 39% in the period from 2018 to 2025. The Indian AI market is projected to reach a staggering $11,781 million in size by 2025.
The adoption of AI also brings tremendous opportunities to enhance productivity and economic growth. As per estimates, AI has the potential to add nearly $500 billion to India’s Gross Domestic Product by 2025.
As AI becomes more common globally and in India, pursuing a B.Voc. program in this field is the most prudent career decision you can make. Here’s how this career path can benefit you:
Gain Useful AI Skills: The course teaches you all the important AI concepts in depth. This includes machine learning, data analytics, language processing, and computer vision.
Hands-on Practice: You will get practical experience by working on real examples and projects from different industries. For example, banking, medical, farming, shopping, and more.
Connections to AI Companies: The institute partners with top technology companies and new startups working in AI. Students can do internships at these companies.
Lucrative Salary Packages: Entry-level AI professionals can expect average yearly salaries of ₹8-12 lakh. With 5+ years of experience, remuneration can go up to ₹14.8 + lakh per annum.
A B.Voc. in artificial intelligence can lead to a very fulfilling and future-proof career in this age of digital transformation. CEDP provides candidates with the best foundation for a successful AI career with its industry-focused curriculum and experienced faculty. Enroll right now.
Recent Comments