Is 2018 your year? If you’re an individual with a more advanced background, and are exploring a new career path, you may want to consider high-demand fields.
Machine Learning, Data Science and Blockchain Technology are growing so exponentially, companies are having difficulty finding the talent they need to keep open positions filled. Because these three fields require more specialized and experienced individuals, it has been difficult for the jobs market to keep-up with the demand. Though a background in math or analytics may prove helpful, sites like LinkedIn and Glassdoor are finding that advanced ‘soft skills’ are also helping people to land jobs as consultants and other leaders in this space. This guide will help you to better understand where the market is headed and why these jobs are a safe bet for a stellar future.
What is Machine Learning?
Machine learning is a form of data analysis that gives machines the ability to learn information, similar to the processing of a human, with little human intervention. The power of Machine Learning is that it can be applied to virtually any field, making it an industry that will only continue to grow.
Market Growth: According to LinkedIn’s 2017 U.S. Emerging Jobs report, there are 9.8 times more Machine Learning Engineers working today than five years ago, with an expected market size growth of 1.41 Billion USD in 2017 to 8.81 Billion USD by 2022. Currently, there are roughly 1,829 open Machine Learning positions on LinkedIn.
Average Salary: The national average salary for a Machine Learning Engineer is $120,931 in United States. (Glassdoor)
Skills You Need:
Python/C++/R/Java: These are the primary languages used to create structures in Machine Learning. These languages are commonly taught at bootcamps around the world, and can easily be applied to this particular field. Check out our best bootcamps page to find a program that can teach you Python, C++, R, or Java.
Probability and Statistics: A firm understanding of both probability and statistics are clearly necessary to work in Artificial Intelligence and Machine Learning.
Advanced Mathematics: It’s crucial to have a firm understanding of algorithm theory in any Machine Learning role. Complex algorithms are needed to help machines learn and communicate. Most individuals working in this field have an advanced understanding of both mathematics and engineering.
-Software Engineer - Machine Learning/ Data Science
-Principal Machine Learning Engineer
-AI/Machine Learning Scientist
-Deep Learning Software Engineer
In order to get started in this field, check out our list of the best Machine Learning Bootcamps.
What is Data Science?
Data Science combines statistical analysis and scientific research methods to help glean insights or predictions based on data patterns. A Data Scientist is able to analyze large amounts of data and not only make sense of it, but create purposeful and applicable predictions for the organization for which they work. Every industry uses data science on some level, especially those dependent on consumers.
Glassdoor’s Chief Economist, Andrew Chamberlain was quoted in an interview saying, “Data scientist has ruled as one of the hottest jobs for years, proven by its third consecutive No. 1 ranking on Glassdoor's 50 Best Jobs in America list. Not only are tech companies scrambling to hire data scientists, but industries across the board, from health care to nonprofits to retail, are also searching for this talent."
Data Science is another field that is used in a wide range of industries. Because of the complexity of data science, it will be difficult for these particular jobs to become automated.
Instead, Data Scientists are helping to build the technologies that will automate other industries and lines of work.
Market Growth: “Data scientist is the best job in America for the third consecutive year, according to Glassdoor's annual Best Jobs in America report.”
Average Salary: The national average salary for a Machine Learning Engineer is $110,000 in United States. (Glassdoor)
“A data scientist is the person who helps gather, process and analyze data. They should also be skilled in communicating those findings and offering recommendations to others in the business.”
Skills and experience to look for:
-Programming languages (specifically Python or Java)
-Strong analytical skills
-Strong mathematical skills
-A Master’s or Ph.D. in a STEM field is preferred but not always. It is important to note that while many data science bootcamps strongly prefer an advanced degree, it is not impossible to become a data scientist without one. According to Forbes, “There are large swaths of data science that don’t require [advanced degree] research-oriented skills. There’s a huge amount of impact that you can have by leveraging the skills that are better built through industry settings as well.”
Data scientist roles have grown over 650% since 2012, but currently, 35,000 people in the US have data science skills, while hundreds of companies are hiring for those roles.
In order to get started in this field, check out our list of the Best Data Science bootcamps.
What is Blockchain Technology?
Blockchain is a decentralized technology database that allows a host of computers to share data. Essentially, this data is encrypted and duplicated across hundreds or thousands of devices. Blocgeeks explains it as such: “Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain.”
Jobs in Blockchain and their Average Salary
$87,884 per year
$70,035 per year
$97,818 per year
Blockchain is a buzzword that seems to hit the headlines daily. Similar to artificial intelligence or AI technology, these systems are thought to potentially change the world as we know it. Of course, anyone who knows anything about Blockchain knows it is the foundation for Bitcoin. This and other cryptocurrencies set the stage. Now other industries are eager to apply this technology to their corporations and systems - hence the explosion of the Blockchain Technology job market.
Upwork reported that Blockchain now heads the list as the most in-demand program skill. Another blockchain job report found blockchain engineering to be the second most in-demand skill globally. Blockchain is growing in both business and finance. As a technology that is being implemented at huge companies such as Bank of America and Visa.
Blockchain developers are needed in every industry. Startups, large corporations and everything in between are desperate to find those with the real skills needed to develop blockchain technology, but the industry is seriously lacking. The demand for Blockchain Technologists has more than doubled in the past year alone, but the science behind it is quite complex. Individuals looking to work in this field must possess an advanced understanding of both science and mathematics, similar to the two professions listed above.
In order to get started in this field, check out our list of the best Blockchain Bootcamps.
Whether you are looking to work in Data Science, Blockchain Technology or Machine Learning, one thing is clear. The jobs are there for people with the right skills, so if you have them or want them, get going!