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Meanwhile, AI is expected to contribute $15.7 trillion to the global economy in 2030, the report, titled ‘iCET- Forces Shaping Future of Technology’ by TeamLease Digital, stated.

The global market size of AI in 2022 has been estimated at $136 billion, and it is expected to grow at a CAGR of 37 per cent from 2023 to 2030, the report showed.

In India, AI-generated revenue stood at $12.3 billion in 2022, the report said, adding that the AI software segment is expected to grow at a CAGR of 18 per cent in the country by the end of 2025.

In terms of investment, global investments in artificial intelligence surged to a record high of $77.5 billion in 2021, up from $36 billion in 2020. India’s share in global AI investment in 2022 stood at 1.5 per cent, the TeamLease report added.

The report further stated that AI is expected to add $967 billion to the Indian economy by 2035, and around $450-500 billion to the nation’s GDP by 2025, accounting for 10 per cent of the country’s target of $5 trillion GDP.

Meanwhile, AI is expected to contribute $15.7 trillion to the global economy in 2030, the report further stated.

The findings of the report stated that India has around 45,000 job openings in AI, as of February 2023. Data scientists and machine learning (ML) engineers are among the sought-after careers in AI in India.

The expected salaries for freshers in various AI roles range from Rs 10 lakh to Rs 14 lakh per annum, TeamLease Digital’s research report stated.

For data engineers, freshers’ salary ranges from Rs 3 lakh per annum (lpa) to Rs 14 lpa, while for ML engineers, it ranges from Rs 2.5 lpa to Rs 10 lpa. For data scientist, the freshers’ salary range between Rs 3.5 lpa and Rs 10 lpa, while for DevOps engineers, it lies around Rs 3 lpa to Rs 12 lpa.

For data architect, the salary range lies between Rs 3 lpa to Rs 12 lpa, while for business intelligence, the range stood at Rs 3 lpa to Rs 14 lpa. For database admin, the freshers’ salary range lies from Rs 3 lpa to Rs 12 lpa.

Additionally, candidates with eight years of experience in similar fields can earn even higher salaries, ranging from Rs 25 to 45 lpa, the report added.

According to the TeamLease report, India is the third largest contributor to the AI talent pool as around 400k of the AI talent base comes from the country. India represents 16 per cent of the global AI talent pool.

In terms of top emerging cities with an AI talent pool, Bengaluru has been ranked fifth globally, according to a study based on the talent pool, diversity of talent, investment, and India’s evolution of digital foundations. New Delhi was ranked 18th, followed by Hyderabad at 19th and Mumbai at 27th.

Other top cities with AI talent pools were San Francisco, Boston, New York, and Seattle.

To a specific question on whether India can build something equivalent to the conversational AI tool ChatGPT, the minister said “wait for a few weeks, there will be a big announcement”.

When asked about what the big announcement might be, the minister said, “Parliament is in session, so I cannot say anything…” He declined to give further details.

Vaishnaw was speaking at the India Global Forum event.

It is pertinent to mention that ChatGPT has dazzled the world with its conversational skills and triggered an AI (Artificial Intelligence) chatbot race.

The new AI chatbot tool — created by the San Francisco artificial intelligence company OpenAI — has over the past weeks exploded in popularity and grabbed headlines.

It can be tasked to provide definitive answers to questions, responds to user prompts, and based on online information, it can churn out scripts, speeches, song lyrics, homework material, articles, marketing copy, classroom essays and even draft research paper abstracts.

Amazon
Subhasis Chaudhuri, director of IIT Bombay, expressed the institution’s dedication to transforming knowledge and research into groundbreaking technologies. According to him, their exceptional research talent has consistently captured the interest of organisations that seek scientific exploration. With the partnership of Amazon, an industry leader with extensive technological expertise and worldwide influence, they aspire to accelerate the development and implementation of AI-ML technologies and products.
Recognized as one of the premier engineering institutions in India, IIT Bombay is renowned for pioneering research in AI and ML. Its Department of Computer Science and Engineering, which boasts 45 full-time faculty members, is among the largest in the region. Amazon’s support of the Amazon IIT-Bombay AI-ML initiative underscores its commitment to tackling intricate AI research obstacles through extensive partnerships with exceptional academic research centres.
Milind Atrey, the Dean of Research and Development at IIT Bombay, expressed his satisfaction with Amazon’s entry into the Indian academic-industrial collaborative space through this initiative. He emphasised that this collaboration would encourage innovation in three distinct ways: community projects, research initiatives, and fellowships. As the relationship advances, he believes that this initiative will undoubtedly stimulate growth in AI and ML domains and other fields.

Rohit Prasad, Alexa’s Senior Vice President and Head Scientist, commented on how Amazon’s expanding research and development activities in India have fueled engagement with Alexa users in Hindi and Indic languages, leading to delightful shopping experiences through AI/ML innovations. He stated that Amazon’s investment in one of the world’s leading academic institutions would facilitate the collaboration of Amazon scientists with IIT Bombay students and faculty.
This collaboration would utilize India’s multilingualism as a learning laboratory to create new AI systems that can understand and adapt to various languages, accents, and dialects. These endeavors will contribute to the advancement of conversational AI technology, which is fundamental to the future of AI, said Prasad.

New Delhi : There are 45,000 Artificial Intelligence (AI) job openings in India, with data scientists and Machine Learning ( ML ) engineers being among the most sought-after careers , according to a report on Monday.

The report by TeamLease Digital , a tech staffing firm, is based on a thorough analysis of AI’s potential in some of the selected industries. The report examined the key job roles and AI uses in these industries, demonstrating the increased demand for AI career aspirants and professionals specialised in AI.

The report highlights that increased focus on scalable ML applications is leading to an increase in demand for AI professionals proficient in scripting languages, and building conventional ML models will be the foremost skill required for a career in AI.

It finds a wide variety of key job roles in the AI landscape across major industries, including healthcare (clinical data analyst, medical imaging specialist, health informatics analyst, among others), education (edtech product manager, AI learning architect, AI curriculum developer, chatbot developer, etc), BFSI (fraud analyst, credit risk analyst, compliance specialist), manufacturing (industrial data scientist, QC analyst, process automation specialist, robotics engineer, among others) and retail (retail data analyst, IT process modeller, digital imaging leader, and others).

According to the report, data and ML engineers can earn up to Rs 14 lakh per annum, while data architects can get up to Rs 12 lakh. In addition, candidates with eight years of experience in similar fields can earn even higher salaries ranging from Rs 25 to 45 lakh per annum.

“The AI revolution is transforming the job market, creating an urgent need for skilled professionals who can design, develop, and implement cutting-edge AI technologies,” said Sunil Chemmankotil, Chief Executive Officer, TeamLease Digital, in a statement.

“In today’s rapidly evolving job market, upskilling with AI skills is becoming increasingly important for career growth and employability. With automation and AI transforming industries across the board, having a basic understanding of AI and its applications can give individuals a competitive edge in the job market. It’s never too late to start upskilling, and investing in AI skills can provide long-term benefits for individuals and their careers,” added Siva Prasad Nanduri, Chief Business Officer, at TeamLease Digital.

According to a survey conducted by TeamLease Digital, 37 per cent of organisations prefer to provide their employees with relevant tools to build an AI-ready workforce, and 30 per cent of organisations stated AI learning initiatives are mandatory to unlock hidden talents in the workforce. About 56 per cent of organisations also expressed that necessary initiatives are being undertaken to fill the AI demand-supply talent gap.

The photo is said to have been created using an AI-generated AI (artificial intelligence) image generator called Midjourney

Pope Francis (file photo). The image of the Pope in a puffer jacket seems to have been first posted online on Friday

One person posted on social media: ‘The fact people find a picture of the Pope in a long puffy jacket thrilling is a good indicator AI is going to have a really easy time destroying humanity’

As police in New York City and Washington DC prepared for possible unrest in the event of Donald Trump being indicted over allegations he paid hush money to Stormy Daniels, images emerged appearing to show the former president being arrested

One of the fake images showed Trump’s wife Melania screaming after his arrest