Today, more than ever, businesses realize the importance of Machine Learning and Artificial intelligence to stay ahead in the cut-throat competitive market. By leveraging AI and ML technologies, businesses are diving deep into data to achieve their core goals, gain actionable insights, foster data-driven decisions, boost cost-efficiency, increase ROI, and most importantly, to create innovative products/services to cater to the specific tastes of their customer groups.

Here a few ways in which ML and AI applications are helping businesses grow:

As for the future and scope of Machine Learning & AI, there are predictions that by 2020, AI will generate around 2.3 million job opportunities. According to another report, by the end of 2022, the global ML industry will stand at USD 9 billion, growing at an incredible CAGR of 42%. Although the adoption of AI and ML are at a nascent stage in India, essential steps are being taken to boost the AI and ML foothold in India.

The path to becoming a Machine Learning Engineer is pretty straightforward:

Back in 2017, Gartner announced that by 2020, AI would create 2.3 million jobs globally. It is a known fact that the demand for Machine Learning (ML) and Artificial Intelligence (AI) has risen rapidly in the past decade. Today, almost every sector of the industry is readily adopting and leveraging these technologies to reap numerous business benefits. For a city like Chennai that has always been a fast-growing and developing city in India, there’s plenty of scope of Machine Learning & AI in Chennai.
Chennai has a strong economic base that is fuelled by a few core industries in the city, including IT/ITES, healthcare, hardware manufacturing, automobile, and BFSI sectors. By 2025, Chennai is posited to grow into a $150 billion economy, which means that new and exciting opportunities for disruptive technologies like Machine Learning & AI will emerge in Chennai. As more and more companies across the industries in Chennai start incorporating ML and AI in their business infrastructure, it will create a massive demand for skilled AI/ML professionals in the city.

Machine Learning & AI Salaries in Chennai

The salary of Machine Learning & AI professionals in Chennai depends on a candidate’s education, skillset, and work experience, along with the job position and the size and reputation of the company.
According to Indeed, the average salary for a Machine Learning Engineer is Rs. 18,579 per month in Chennai. This is, of course, the starting salary of a fresher with no work experience. The starting salary range usually remains between Rs. 2.2-3.5 LPA. After gaining about 6-8 years of experience in this domain, one can earn between Rs. 4.8-6 LPA. Professionals with over ten years of experience make anywhere between Rs. 12-18 LPA and those having more than 15 years of field experience can easily make around Rs.20-35 LPA.

Machine Learning & AI Career Options in Chennai

In Chennai, AI and ML aspirants can look for job roles like Data Scientist, Robotic Scientist, NLP Scientist, ML Engineer, Big Data & AI Architect, Automation and Optimization Engineer, Data Analyst, Business Intelligence Analyst, Robotics Process Analyst, and Analytics Manager.

Today, we have come to that phase of technological revolution where Artificial Intelligence (AI) is all around us. From automating business operations to assisting the common man in day-to-day life, the applications of AI and Machine Learning (ML) are transforming the world in a way we never imagined before.
While AI is the science that aims to build intelligent machines that can depict human-like cognitive abilities, Machine Learning is a subset of AI that gives shape to this concept of smart machines. It imparts machines (computers) with the ability to learn from data and perform human-specific tasks. The recent surge of interest in AI and ML technologies has given birth to several miraculous applications of Machine Learning and AI.

Top 5 Applications of Machine Learning and AI

1. Smart Personal Assistants
In the past five years, smart personal assistants have become hugely popular. Siri, Alexa, Cortana, Google Assistant, Amazon Echo, Google Home are all examples of virtual assistants.
2. Sentiment Analysis

Sentiment analysis is a real-time ML application that focuses on “opinion mining.” This ML application is designed to analyze and interpret the sentiment, that is, the attitude or opinion of a speaker or a writer. In simple words, it is the process of determining the hidden intent or emotion out of text or spoken words.

3. Video Surveillance
Video files can contain a ton of vital information, in fact, much more than what text and other media files usually contain. Hence, companies are now inclining toward smart video surveillance to detect crime and fraudulent activities even before they can happen.

4. Fraud Detection
In the face of the rising incidence of cybercrimes, it has become essential to track and prevent fraudulent and suspicious activities before they can compromise the company database. Cybercrimes and security breaches often lead to substantial financial and data losses. Thankfully, Machine Learning is helping make cyberspace and online platforms safer and more secure.

5. Chatbots
Chatbots are just like virtual personal assistants. Recently these smart bots have gained immense popularity due to their excellent customer support abilities. Chatbots can interact with customers in real-time and assist them accordingly. They are highly capable of handling customer requests, complaints, and grievances. While chatbots can handle the basic customer support activities and tasks, if need be, they can also escalate to human agents for more complex issues.

Since AI and ML are emerging technologies, they are in a state of constant evolution. With time, these technologies will become more mature and lead to more such exciting applications and innovations.