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The AI Market Growing Into a $320 Billion Industry

Artificial intelligence continues to make a transformational impact throughout the modern business world. Interesting use-cases abound in multiple industry sectors, including healthcare, finance, automobile, and more. In fact, the market for AI is forecast to grow to over $320 billion by 2026, according to MarketsandMarkets.  

Needless to say, a robust AI market means plentiful job opportunities for technology professionals with the right experience. What follows is a high-level overview of the rapidly growing world of AI. Leverage these insights for the inspiration to take your tech career to a higher level.  

What Factors are Driving the Rapid Expansion of the AI Market?  

According to the MarketsandMarkets study mentioned earlier, two major factors helped foster this growth of the AI market. First, companies increasingly use AI to glean actionable business information from their Big Data repositories. Additionally, global manufacturing companies now depend on robotics to drive efficiency improvements and subsequent profits.  

However, these are only two of the areas now seeing wide adoption of AI. For example, machine learning algorithms help cybersecurity analysts protect technical infrastructures. It’s another use case growing in importance amid the rise in ransomware across the globe. Other innovative applications using AI include predicting trends from historical datasets and real-time retail recommendation engines.  

In fact, the Coronavirus pandemic also helped drive the increased adoption of AI in healthcare. These areas include enhanced contact tracing, improving the efficacy of telehealth sessions, and vaccine development. Machine learning models also help medical professionals analyze MRIs to better detect potentially serious conditions.  

One Important Issue Potentially Hampering the Growth of AI 

 However, MarketsandMarkets noted one critical issue potentially hampering the growth of the AI market. The IT industry currently lacks enough technology professionals with skills and experience in artificial intelligence. This includes related AI offshoots, like deep learning and machine learning. That this need exists is unsurprising, considering practical uses for AI remain a relatively recent development. 

Therefore, anyone working in technology needs to consider adding AI to their skills inventory. After all, it’s a highly marketable ability; boasting lucrative job opportunities in multiple business sectors.  

Software engineers and QA professionals both benefit from gaining experience in projects using AI and its related technologies. Ultimately, it’s a great way to put your IT career into overdrive. 

Build Your Dream Career!

If you need more insights on building a rewarding tech career, speak with the experts at Technology Partners. As one of the top IT staffing agencies in the Midwest, we know the companies looking for talented candidates experienced in AI. Connect with us as soon as possible.