Tech Giants are Eager Enough to Innovate AI, So Great Opportunities for Businesses to Grow and Great Salary for AI Talents
Nearly all big tech and non-tech companies are investing heavily in artificial intelligence. Their goal is to leverage first-mover advantage and stay ahead of the competition. So they are ready to pay talents who help fulfil their dream.
Unlike other domains, AI-aspirant companies prefer candidates who come up with relevant and proven AI experience. They would like to listen to them and gather ideas. That’s why because AI is still in nurturing stage.
A.I. specialists, with Ph.D.s, with or without relevant experience, can even bag a package between $300,000 and $500,000 a year or more in salary and company stock, in the U.S. market. This statistics was extracted from nine people who work for major tech companies or have got offer to work.
Few months back, Google had revealed that one of the key persons of its autonomous car division, Anthony Levandowski, who started with Google in 2007, got $120 million in incentives through the acquisition of startup he co-founded. Now he is at Uber ATG VP Engineering.
Who Are Investing Heavily?
The auto industry is competing with IT giants to roll in AI experts, focusing on building self-driving cars. Giants like Facebook and Google are making a heavy investment in AI to solve challenges that they think A.I. can. Digital assistants for smartphones and solutions to spot offensive content stay at the top of the solutions’ list.
Building AI solutions is not like building a mobile app in a few months. Industries are lacking AI talents. According to the independent AI lab in Montreal, Element AI, the entire world only have around 10,000 people with the necessary skills to work on serious artificial intelligence research. Thanks to our hiring team at FuGenX – best mobile app development company in Bangalore, who rolled in some of the finest AI talents in the world.
Gradually the AI costs are coming down. When Google acquired AI company DeepMind in 2014, the costs were $650 million for 50 employees. Last year, as the company released annual financial accounts in Britain, the labs’ cost got reduced to $138 million and that was for 400 employees. That was almost $345,000 to an employee.
How AI Researches Are Done?
Most of the ongoing AI researches are based on a set of mathematical techniques called deep neural networks. These networks are powered by mathematical algorithms that can learn on their own by analyzing data. For example, neural networks can learn to recognize a dog by analyzing patterns in millions of dog photos. The prevalent mathematical ideas scientists are leveraging to build neural networks date back to the 1950s.
This AI boom all started with Google, Facebook and a few other tech giants started to hire few researchers who had exclusiveness in those techniques. We already have come across many real-life scenarios of AI, for example, face recognition technology used to recognize faces in photos posted to Facebook, Amazon Echo’s capability to recognize commands spoken into living-room and Microsoft Skype’s capability to instantly translate foreign languages.
AI in healthcare systems that can identify illness and disease in medical scans and automated stock-trading systems are already making the AI a nice-to-have solution to achieve a competitive advantage for the respective industries.
Uber rolled in 40 people from Carnegie Mellon’s A.I. program in 2015 to work on its autonomous car project. Four top A.I. researchers at Stanford University left their professorships to work on more prolific profiles. This is even same for University of Washington, where their six professors are working for outside companies.
Know the Cost to Develop the Apps Like
Conclusion:
AI is really getting big in its impact. The opportunities and benefits businesses and employees are getting that are detailed above don’t just imply to big names or people working in big companies. Today even businesses of every size and vertical are seeing massive opportunities in AI to grow. Just take chatbot as an example, which has capability to enhance customer experience 4X and reduce cost 200%.
If you’re thinking to build AI solution to achieve a massive growth in your business, contact FuGenX Technologies.
FuGenX has a right set of AI people and technology expertise to grow your business at a scale.