Exploring the Growing AI and Automation Market

By year’s end, the artificial intelligence and automation industry will be worth $1.2 trillion, a staggering increase of 70% over 2017. With far-reaching implications that extend beyond manufacturing environments and into banking, sales, customer relationship management, big data, healthcare, and more, AI’s latest innovations are nothing short of revolutionary. Let’s explore the growing AI market and how it affects technology hiring in 2018.

AI Facts and Figures

While AI is not a new concept, the AI and automation market is reaching a critical adoption point due to a perfect storm of investment, interest, and technological advancement. In addition to robotic process automation, customer service chatbots, and “smart” consumer products, AI investment is heavily driven by businesses looking to take their data analytics to the next level. Artificial intelligence can make better sense of data more quickly, providing leaders with business insights before they even ask for them. This pushes demand for Chief Data Officers to an all-time high, and as they vouch for more AI-based technology, the cycle continues.

Within the flurry of AI activity in 2018, there are a number of key facts and figures shaping the industry:

  • China is advancing heavily, on pace to create a $1 trillion national AI industry within 12 years. That alone would double today’s current global level.
  • Ford pledged to spend $4 billion on autonomous vehicle technology in the next five years.
  • Google, Microsoft, and Amazon are investing heavily while racing to bring AI and machine-learning platforms to developers.
  • AI holds the power to transform DevOps and drive digital transformation for organizations.

The Great Skills Shift

Many headlines point to new AI-based technology as making certain long-standing jobs obsolete. While some skills are indeed dropping in demand, there is a great skills shift underway. If roles are replaced by automation, that means technologists are needed to program, maintain, and oversee those operations and new technologies. Of course, this increases demand for technologists skilled in AI as businesses scramble to capitalize during the window of early adoption.

The skills shift may also end up becoming a geographic one. Consider if Chinese companies continue on their current trajectory and become worldwide leaders of AI. While many great technologists in India or Europe currently choose to seek opportunities in the U.S., a Chinese boom in AI may substantially change this dynamic. Likewise, in a day and age when many professionals can fulfill their jobs remotely, it’s not hard to image American-based technologists taking jobs with Chinese firms offering access to cutting-edge software and larger paychecks.

How All IT Hiring Is Impacted

Like any huge push in one specific niche, the proliferation of AI affects technology hiring as a whole. Imagine seeking a skilled app developer for an open role. Naturally, it won’t be easy because the current number of qualified technologists is heavily outweighed by the number of open app developer roles. While that makes it an attractive niche for a technologist, learning to develop AI programs instead of apps can be an alternative with even less competition and higher paychecks.

In other words, technologists versed in other skills will look to move into AI roles, causing deeper shortages in app development, cloud security, and the like. Some currently existing roles will of course adapt to include AI responsibilities, but many new AI-specific roles will be created, and that’s a blessing and a curse for hiring managers.

Exploring the Growing AI and Automation Market

Advances in artificial intelligence and automation make the technology industry one of the most exciting. Just as with other breakthroughs in cloud, IoT, and mobile technologies, AI is disrupting the industry and changing how to hire in this new climate. AI is coming and requires a strong foundation to work right. Are you ready for it?

For more insight on trends affecting IT hiring and employment, download the complimentary 2019 Technology Salary Guide today.

 

Related Articles

The Biggest Tech Skills for 2018

It’s 2018. Is the Cloud Finally Secure?

How Rising FinTech Usage Impacts Tech Hiring

Related

Archived Posts

10 Ways to Win the Fight for Happy at Work

Whether it is just the daily grind or a career that is less than your passion, workplace happiness doesn’t always flow naturally. The true masters of the workplace can find happiness amongst it all. So here are 10 easy tips for staying happy at work.

Career Advice, Hiring Advice, Insights

Search Without Being Found

It is common to be employed while hunting for a new job, especially if you are looking to advance your career. Here are several strategies that you can use to avoid alerting your boss or other people in the department:

Career Advice, Insights

An Effective Elevator Speech Opens the Doors to New Career Opportunities

When you are looking for a new job, networking is a critical step to help you connect with other people in the industry. You’ve probably heard the saying that you only get a single opportunity to make a good first impression, and networking with an effective elevator speech can make-or-break your job hunting efforts.

Career Advice, Insights

Your Resume has these 4 Must-Haves, Right?

Modern technology has made it easier to apply to many jobs without much effort, which means that employers and recruiters are inundated with resumes when a job opening is posted. If you want the job, then you need to make sure that your resume outshines the rest.

Career Advice, Insights

Quitting Your Job? 5 Considerations Before Deciding

LinkedIn Twitter Facebook Google+ Are you frustrated with your job and you are ready to...

Career Advice

The 5 Questions To Ask In A Job Interview

When you ask questions at the close of your job interview you show the interviewer you were listening. You convey your interest in the company and showcase what a good fit to the team you would be. Your questions garner insight into how you would fit into a specific role and where you would devote your energy. Questions are critical to the success of your interview.

Insights

You Said What? 7 Things to Never Say During a Job Interview

One sentence. That’s all it takes to derail your chances at the dream job you’ve been pining after for months – maybe even years. Employers focus on why they should hire you, but they’re also looking for reasons not to hire you. Read on to find out seven things you need to keep in the vault while interviewing.

Career Advice

Send Resume
Share This