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AI Research Can Land You in The Millions – Data Driven Investor – Medium

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Artificial Intelligence is fairly new, yet it has the potential to land you with millions right in your pocket.

With AI becoming a new innovation to all technology, we can tell it has huge potential. With the many companies trying to crack down on all the new tech, the huge demand for supporters of AI is very, very low.

If you are interested in money… check out my other article…

Follow me for more stories on AI, Data Science, and more!

Tencent Research Institute States;

“There are just 300,000 “AI researchers and practitioners” worldwide, but the “market demand” is for millions of roles.”

Yet with a shortage of jobs, well does come out of this. There will be increased demand and therefore, much higher raises and payrolls for those that put there time into this new technology.

“Hiring AI engineers, and the demand has pushed salaries to absurd heights. Individuals with just a few year’s experience can expect base pay of between $300,000 and $500,000 a year,” says The New York Times.

While wages are already seemingly drastic, what I have found further, is that not only are these engineers making money… Though an entirely new business will form due to this new technology. Because of the startup and new needs for these technologies, many businesses will be wanting to incorporate these new ideas to their own corporation(s), and therefore there will need new manufactures.

The Real Bucks

Do you want to be a millionaire?

Now, what do you need to know?…

People already are becoming millionaires… straight from AI

OpenAI paid its top researcher, Ilya Sutskever, more than $1.9 million in 2016. It paid another leading researcher, Ian Goodfellow, more than $800,000 — even though he was not hired until March of that year. Both were recruited from Google.”

These leading researchers are making millions. To imagine that your starting payroll ranges around 500k… this is quite an insane pricing for a ‘newbie’. You have to take a minute and realize each year you would be making huge profits, even with deducting the cost of living, taxes, and all.

In the past year, there has been a double increase in the number of workers that were qualified with the professions for serious (high-end monies), AI research. From 11,000 to 22,000, the increase of qualification is unbelievable.

“At DeepMind, a London A.I. lab now owned by Google, costs for 400 employees totaled $138 million in 2016, according to the company’s annual financial filings in Britain. That translates to $345,000 per employee, including researchers and other staff.”

Interestingly enough, while it may seem to be a large increase, it merely fills any space at all in for the amount of demand for these workers that are needed. Millions of spots that are predicted to come from AI, from operation to research and engineering. Despite each of these needs, the numbers of high qualifications and the numbers of total engineers are very low.

Dated Salaries

In total, the need for these new AI specialized workers is at a huge demand, and these spots are put up for grabs at extreme price marks.

Getting The Money

You know it, now you want it…

Getting the education for this new section of technology will be a new experience for everyone.

From the students themselves to the teachers of the institutions, there will be new needs of education. Similarly to when technologies such as binary codes and new ways of communications established, there was a need of new people who could carry out tasks, yet while still having new generations to teach these areas of study.

This raises significant issues for universities and governments. They also need A.I. expertise, both to teach the next generation of researchers and to put these technologies into practice in everything from the military to drug discovery. But they could never match the salaries being paid in the private sector”.

The new pool of practices will create extreme amounts of diversity as well for needed positions. AI is applicable to just about every part of the day, from our day jobs to the nightly news. Each and every little job can alternatively have an AI position. With the ability to create new positions, it will rid 1000’s of jobs… hundreds of thousands for a fact. The issue with this replacement is the number of jobs that will be needed to be filled. There will be the need for millions of different jobs, yet while creating these fields, the amount of lacking knowledge/education for AI understanding.

In the AI field, it is predicted by 2030, for China to be the leading member of the practice, though currently, the United States, is one of the leaders in the pool of AI.

To meet the standards of the competing positions;

“-Various level of math, including probability, statistics, algebra, calculus, logic and algorithms.

-Bayesian networking or graphical modeling, including neural nets.

-Physics, engineering and robotics.

-Computer science, programming languages and coding.

Cognitive science theory.”

Having this in mind,

  1. There is about a four-year term to complete to acquire a degree in AI
  2. To meet the extended standards, as I stated before, it could take up to 6+ years
  3. It would require a lot of well-thought minds

Going into AI

“New research from IDC predicts that the global IOT market will be $1.7 trillion in 2020, up from $655 billion in 2014. The top industries for IOT spending are predicted to be manufacturing, transportation and logistics and utilities, with expected spending of $40 billion per industry.”

Jay Swartz, Data Scientist, software engineer, AI/CCN researcher;

“Working with AI is very interesting. As a computing discipline it has some unique aspects that the uninitiated struggle with. The main concept that people entering the field need to not lose sight of is that the typical computational performance guarantees are not in play. This is true as well for those who rely on the output of AI algorithms. As an aside, this is one of the root causes for ‘failures’ of AI systems; because it is computer-based technology, the business stakeholders assume guarantees are in place.”

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“Throughout computer science algorithms are designed, and can be mathematically proven, to perform within certain limits. AI algorithms are all probably, approximately correct.”

AI is a fairly new field of work, which requires new ideas, ways of thinking and relies heavily on proving methods, algorithms, and failing and pushing past these mistakes.

The average day…

In the life of an AI researcher can differ place to place, I managed to get hold of an article, on an experienced worker; ‘Angela Fan — an artificial intelligence (AI) researcher at Facebook.’

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Going over her usual day, she starts talking of her morning, to the midday, going onwards to doing their day to day testing, meetings, and overseeing projects.

“In the morning, I often attend a research talk or “reading meeting,” where different people present work they’ve been doing or reading about. Afterward, I respond to emails, read a scientific paper, and check in on my “experiments” — different ideas for algorithms — to see how successful they are.”

“After lunch with my team, I’m heads-down coding and setting up more experiments. I dedicate Thursday afternoons to meeting with interns, overseeing projects I advise, and attending my own project meetings where we discuss ongoing results and share ideas for what we might want to try next. I like to leave a lot of time for these brainstorming sessions because you never know what you might think of if you keep discussing.”

From Fan’s perspective, the usual life tends to be based on projects, such as a “translation AI,” in development, to take one language written, transferred to another…

Future

AI has an extreme future, and potential to grow.

The business industry ranges from research to sales, and there currently is limited staffing of these workers. The later future, it is many times predicted that artificial intelligence has the ability to take and reform just about every part of human life.

The money in the business, right now in this near ‘revolution’ of technological times we are in now, will create huge investment opportunity, as well for the witness of day to day life revolving in different ways than ever before. We can continue to look into the future and watch the world shape.

AI has the potential to change every life, job, and day to day tasks.

Soon I will be going into the life-changing facts of AI…

Until Next Time,

Hopefully, this article was informative,

Thank you for reading,

Don’t forget to leave a clap or two,

Follow me for more stories on AI, Data Science, and more!

Keep learning.

Owen R Thornton.

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