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What is the scope of an MBA in Artificial Intelligence and Machine Learning?

What is the scope of an MBA in Artificial Intelligence and Machine Learning?

Discover the vast scope & career opportunities of an MBA in AI & ML. Learn about the potential job roles, industries & growth prospects for graduates.

DPU COL
July, 06 2024
144

Have you ever wondered how your phone's Google Assistant answers questions or how driverless cars get from one location to another? Artificial intelligence (AI) and machine learning (MI) are the technologies that enable all of this.

Experts predict that as India's economic situation worsens, the need for AI and machine learning expertise will increase. It is past time for the country's youth to recognize the value of artificial intelligence. Knowing and comprehending the future scope of AI is critical for making the best career decisions in this industry.

What are AI and Machine Learning?

Artificial intelligence refers to the intelligence of robots that attempt to emulate human intellect. Machine learning (ML) is a discipline of artificial intelligence (AI) and computer science that focuses on utilizing data and algorithms to enable AI to learn in the same manner that people do, gradually increasing accuracy.

Since many are attending online artificial intelligence courses to become AI Engineers or ML Developers, others are considering the potential of AI in India. In this essay, we will look at the future of artificial intelligence, as well as its significance and relevance in several sectors.

Scope of Artificial Intelligence in India Across Various Sectors

Education

Text translation systems, real-time message-to-speech, and automation of dull and repetitive tasks are all examples of AI applications that may help instructors become more successful. The application of artificial intelligence in education is extensive. It can assist teachers in gathering critical data on metrics for grading assignments.

ChatBots

In a country like India, the integration of chatbots into the digital framework or their availability through the IVRS system education area might be transformative. They could be schooled on the subject, and a large majority of the students' questions could be answered swiftly, reducing the workload of experts who could focus on other productive duties.

Banking

Artificial intelligence and machine learning technology have recently entered the banking industry. The industry uses this technology to capture client data, which was formerly a tedious human operation. With the fast expansion of data collected and stored in banking today, Artificial Intelligence enables professionals to accomplish these tasks properly and effectively.

Healthcare

India's healthcare system is the most dynamic and demanding industry. There are several problems, including pricing, accessibility, and a lack of physicians and services like competent nurses, technicians, and infrastructure. With the advancement of Artificial Intelligence, the entire cost of healthcare may be cut while improving efficiency.

Agriculture

Agriculture provides a living for a large portion of India's people. There are various obstacles in this area, one of which is that farmers in India primarily use conventional agricultural practices. There is enormous potential for AI in agriculture. If plants receive an acceptable amount of water, water utilization on farmland may be maximized by using thermal imaging cameras that continuously monitor it.

Transportation

There is significant potential for AI in this area. There are several domains where AI may be applied. Autonomous cars are one of the more recent instances. The present trend is strongly toward driverless cars, but there is enormous potential for artificial intelligence in the transportation business.

Cyber Security

Many companies deal with large amounts of data. For example, in the banking and government sectors, which contain large databases of individual data, there is always the potential of theft, thus a security system must be implemented. Cognitive AI is an artificial intelligence platform that detects and analyzes threats while also providing analysts with insights to help them make better decisions.

What is an MBA in AI and Machine Learning?

The demand for experts who can navigate AI has increased. In light of the AI revolution, the MBA takes on a new dimension. MBA programs in artificial intelligence offer a complete curriculum that ranges from corporate management to cutting-edge AI principles. These courses include machine learning, natural language processing, algorithms, data mining, decision trees, and more.

MBA graduates from Dr. D.Y. Patil Vidyapeeth's Centre of Online Learning (DPU-COL) are equipped to contribute to a variety of areas, including healthcare, finance, and manufacturing. Artificial intelligence and machine learning are no longer abstract notions. They are widely used technologies that help organizations improve customer experiences, cut expenses, and raise profits. This curriculum prepares people to comprehend and handle the challenges that occur in an AI-powered environment.

The Role of AI and ML in MBA

The importance of artificial intelligence and machine learning in MBA computer science degrees varies in each program. However, most programs provide a core curriculum that covers the fundamentals of AI and machine learning. This curriculum usually contains classes on topics like:

  • Machine learning algorithms
  • Natural language processing
  • Data mining
  • Big data analytics
  • Ethics of AI

Check out the full curriculum on our website on the MBA in AI & ML page.

Artificial Intelligence's Future: An Endless Possibility

As AI continues to infiltrate numerous sectors, the opportunities for professions in this industry grow dramatically. Those with an MBA in Artificial Intelligence can expect to work as Data Analysts, Algorithm Engineers, and Machine Learning Engineers, as well as Computer Scientists and Robotics Programmers. AI includes several levels, including Artificial Narrow Intelligence (ANI), Artificial General Intelligence (AGI), and the hypothetical world of Artificial Super Intelligence (ASI).

Job Opportunities After an MBA in Artificial Intelligence

After finishing their MBA in Artificial Intelligence degree, students can apply for a variety of professional opportunities. There are several career possibilities available in a variety of disciplines, including data, networking, artificial intelligence, communications, risk, and compliance. After earning an MBA in Artificial Intelligence, you can pursue the following main career profiles:

  • AI Product Manager - INR 15,00,000 - 25,00,000 P.A.
  • Data Scientist - INR 10,00,000 - 20,00,000 P.A.
  • AI Consultant - INR 12,00,000 - 22,00,000 P.A.
  • Machine Learning Engineer - INR 12,00,000 - 18,00,000 P.A.
  • Business Intelligence Manager - INR 10,00,000 - 18,00,000 P.A.

Graduates with an MBA in Artificial Intelligence are in great demand by top firms at the cutting edge of AI innovation and deployment. Top recruiters include global IT behemoths, consulting companies, and significant organizations from a variety of sectors. Google, Microsoft, IBM, Accenture, and Amazon are some of the most notable recruiters. These firms respect graduates' unique combination of business and AI knowledge, providing positions that include directing AI projects, driving strategic AI initiatives, and contributing to technology developments.

Frequently Asked Questions

What are the fees for an MBA in AI and ML?

The entire price at Dy Patil Vidyapeeth is ₹1,69,200 for Indian civilians. For Indian Defence / Differently Abled students, there will be a 5% scholarship on total fees. For international students, the total price is $3,000.

What is the salary of an MBA in AI and ML in India?

Graduates with an MBA in AI and ML in India may anticipate competitive pay packages. The average beginning pay ranges between INR 10 lakhs and INR 25 lakhs per annum. With expertise, this might greatly rise, perhaps reaching INR 40 lakhs or more per year. Salaries are determined by a variety of criteria, including an individual's skill set, the employing business, and the industrial sector.

Who is eligible for an MBA in AI and ML?

Students with a Bachelor's degree from an accredited university in any field. A minimum of 50% aggregate marks, or 45% for applicants from restricted categories, is required.

What is the earning potential if I have AI expertise?

AI competence has significant income potential. In India, entry-level AI specialists may earn between INR 8 lakhs and INR 20 lakhs per year. With experience and advanced talents, wages can exceed INR 50 lakhs per annum. Globally, AI specialists may command even greater pay, particularly in IT hotspots like the United States, where salaries can vary from USD 100,000 to USD 200,000 or more per year. The need for AI capabilities is significant across a variety of areas, including technology, finance, healthcare, and manufacturing, which contributes to a strong income potential.

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