Is machine learning a good career option – An analysis

is machine learning a good career option

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Are you wondering whether machine learning is a good career option or not? Despite seeing machine learning all over the internet and news, are you still unsure if ML is the right choice for you?

Well, machine learning is still in its development stages. Growing industries come with uncertainties. This raises doubts in the minds of prospective machine learning students and software engineers when they are about to choose a career path.

First, to answer this dilemma in a nutshell, machine learning is worth giving a shot at. However, personal skills and interests play a huge role in deciding whether it’s the right career option for you.

Skills, job security, future opportunities, career growth, and salary expectations are other important deciding factors. In this article, we will explain all these factors that will help you make a concrete decision. 

Let’s begin!

Skills required for machine learning

Machine learning is the ability to imitate the human mind. To make machines learn, you must learn multiple aspects of programming, including mathematics, statics, algorithms, and deep learning. Furthermore, you have to learn data analysis and neural networks as well.

To be more specific, ML algorithms are based on simple trial-and-error methods. The machine has to go through multiple trial-and-error algorithms to make a single efficient working model. Before deciding, you must prepare for what’s coming next. You must learn to deal with complex mathematical and programming problems and hundreds of failed attempts before getting the final results.

Future trends and market size of machine learning

The opportunities in machine learning are vast. The main advantage of machine learning over any other career option is that the demand for ML engineers is high, and the skills required are difficult. Therefore, not everyone can understand all these concepts.

Let’s have a look at the data!

Business Fortune Insights expects the global machine-learning market to reach $152.24 billion in 2028. ML and AI jobs have jumped by almost 75% over the past four years and are expected to grow more.

So certainly there is a huge scope and opportunities for machine learning in the coming years.

New technologies, processes, and continuous innovation always come with ample opportunities. The field of machine learning is yet to be fully explored. Most career options have a saturation point, but in the case of machine learning, there is none that we can think of as of now.  

Additionally, past trends also support exponential growth. In 2017, Forbes stated machine learning would be valued at $20.83 by 2024. We are almost there, and the number is expected to grow tremendously.

Career opportunities in machine learning

Once you become a machine learning engineer, you qualify for several job opportunities. For instance, you can work as an AI engineer, cloud engineer, computational linguist, or human-centered system designer. You can apply for any of these job positions.

So in a nutshell there are vast areas of work that you can explore once you master machine learning.

Salary expectations in machine learning

Salary research is essential whenever you are exploring career paths. Machine learning and AI attract many prospective students due to their higher wages. A junior machine learning engineer earns more than a senior-level software engineer. 

For those of you wondering how much that is, an entry-level data scientist earns around Rs. 7,41,862 per year. This pay scale is for Indian engineers. In the US, the same data engineer is paid around $112K to $115K per year as a fresher. Later, your pay scale may go up to $300,000 once you have enough experience.

Key industries influenced by machine learning

Machine learning has a lot of untapped areas. Most people know that ML is commonly used in social media algorithms, speech recognition, and image recognition. But few people know that supervised machine learning is used in banks to label and detect fraudulent transactions.

Furthermore, machine learning is also used in manufacturing, automobiles (self-driving vehicles), and healthcare. The next few years are expected to mark the beginning of something big in all these industries.

Is machine learning a good career option?

Businesses worldwide are looking for skilled machine-learning professionals who can make a difference. There is a high demand for talented, skilled, and efficient machine learning engineers. Anyone who can find a solution that aligns exactly with the system’s needs can make a good career in machine learning.

“Is machine learning a good career option?” – yes. Machine learning tops all the criteria regarding opportunities, job security, and pay scale. Amidst all the factors favoring machine learning, it still has some pros and cons.

Pros of machine learning as a career option

  • Growth in ML is enormous and diverse.
  • Machine learning works to solve real-life problems.
  • ML specialists can apply for various job roles and can work across industries.

Cons of Machine Learning as a Career Option 

  • Machine learning is a demanding career.
  • It takes time to learn the basic concepts of ML.
  • ML is an evolving field, and you need to stay updated.

Conclusion

Is machine learning a good career option – you have to analyze yourself

We have discussed various aspects of machine learning as a career. You now know the future opportunities and skills required to excel in this field and most importantly, the salary you can earn as a machine learning engineer. 

Now, it’s your turn to decide whether machine learning is a good career option for you or not. Understand the core skills and analyze whether machine learning is the right fit for you. 

To get started with machine learning, you can start right here with us at Skolar.

Skolar is always there for you if you need any kind of assistance with machine learning. With our training program on machine learning, you get to know the ins and outs of this field and build a successful career.

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