Artificial Intelligence (AI) continues to influence the economic development of countries around the world. Governments are seeking the support of engineers with capabilities to work with AI technologies. With the growing rate at which AI tools and Machine Learning solutions are revolutionizing the economic landscape, educational institutions are revamping their engineering courses for introducing students to AI early on.
Among the leading nations in the world, India records a high number of students graduating as engineers, especially in the stream of Information Technology. Over the past few years, India’s economy has soared at an exponential rate, surpassing China to become the world’s fastest-growing economy. Considering both the facts, the Indian economy is at the forefront of using its indigenous workforce of engineers to drive its growth by leveraging AI.
The Rise of AI-enabled Engineers
Engineering colleges in Gurgaon, Mumbai, Chennai, Bengaluru, and other tech hubs have updated their courses by introducing their software engineering students with advanced programming, cognitive computing, deep learning, and neural networks.
Engineers with AI expertise can orchestrate economic growth with smart solutions. For example, in the Indian economic system, such engineers can help governments and regulatory bodies in the development of AI-powered learning ecosystems. They can create hubs for key economic industrial sectors such as insurance, financial services, and banking.
Engineers also view the commerce industry as a great avenue to use AI-based solutions on consumer behaviour analysis, restocking and sales forecasting. Modernizing the potential of a business or a product line on the e-commerce platforms is now feasible, thanks to chatbots, personalized shopping experiences, and similar AI offerings. As the influence of cognitive technologies increases on such key industrial sectors, the economy will continue to witness a high demand for capable engineers.
Over the recent past, the uptake of AI engineers has increased across the world. In India, more than 40% of organizations are adding job roles for the AI domain, hiring engineers that can effectively deploy AI within their business. The demand for AI skills is at an all-time high in the United States, followed by China, India, Germany, and Israel. AI engineers are receiving overwhelming salary packages, depending on their proficiency in software development, data engineering and data science.
AI Engineers and Economy
In the view of this booming demand for AI engineers private engineering colleges in Delhi NCR, Pune, and other Tier I and Tier II cities are updating their engineering curriculums. Students graduating as software engineers with specializations in AI and Machine Learning are finding jobs with ease. In turn, the solutions made by such AI engineers are also generating new jobs for engineers in managing and operating these solutions. Hence, the growth in the AI engineering workforce is opening doors for improving individual economies of the working class.
AI hardware and software is finding application in various industrial verticals. It is transforming industrial design, building cost-efficient solutions, and connecting the world with more reliable and powerful next-gen communication technologies.
Personalized healthcare is a trend, slated to boost economic growth significantly in less than a decade. AI collaborative systems are the latest technological adoptions in the sectors of autonomous logistics & transportations, smart infrastructure development, and workplace transformation.
Currently, the UK and the US are the global leaders in producing the best AI engineers in the world. India and China are also stepping up their game, considering the active efforts taken by universities and engineering institutes in these fast-moving economies.