Benefits of a Masters in Artificial Intelligence for 2024 and Beyond
Artificial Intelligence (AI) has been involved in almost all aspects of our lives in this modern era. Different industries are trying to use artificial intelligence to advance their technologies and enhance the quality of their products and services. This emerging trend of artificial intelligence, has...
Written by
Patrick Findaro
Published on
28 Jun 2023
Table of Contents:
Artificial Intelligence (AI) has been involved in almost all aspects of our lives in this modern era. Different industries are trying to use artificial intelligence to advance their technologies and enhance the quality of their products and services. This emerging trend of artificial intelligence, has caused companies across different fields to rely on professionals with expertise in that transformative field. Pursuing a masters in artificial intelligence is a great way to become an expert in the field of artificial intelligence.
Contents
What is Artificial Intelligence
Artificial intelligence is the ability of a digital machine or computer to act and perform tasks like a human being would. Machine learning, deep learning neural networks, and other complex networks of algorithms are used to train machines to simulate a human brain, and a masters in artificial intelligence is a great opportunity to gain expertise on how to use those complex networks of algorithms to simulate human thinking. AI has been used across different industries to improve and facilitate many of the processes that take place. For instance, the healthcare industry has been using AI to diagnose patients, identify treatments, and assist in surgical procedures. Similarly, the finance industry has been using AI to create financial models, help with risk management, and assist with fraud detection. Almost every other industry has been seeking the help of artificial intelligence to improve their efficiency and lower their costs.
AI is, basically, a huge category that has several subcategories that fall under the umbrella of AI, and all those subcategories are considered to be different types of AI. Types of AI include machine learning, deep learning, natural language processing, and more. Each type of AI serves its own purpose. For instance, machine learning is a method that teaches computers to learn from previous experiences to solve real world problems.
Netflix movie recommendations or your music recommendations are an example of the use of machine learning. Similarly, deep learning is a subset of machine learning that uses several layers of neural networks to simulate the human brain. Deep learning is used behind many current technologies like self-driving cars. On the other hand, natural language processing (NLP) is a subset of AI that uses computational linguistics to give computers the ability to understand texts and spoken words the same way a human would. Since you now know about what artificial intelligence is and how it’s used, let’s discover what are the benefits of pursuing a masters in artificial intelligence.
Benefits of Pursuing a Masters in Artificial Intelligence
The Future Revolves Around AI
The rise of AI is very similar to the rise of the internet. The internet started very slowly in the 1980s and suddenly was involved in everything we do daily. No matter what your job is or what you do in your life, you use the internet every single day. As AI becomes more and more involved in our everyday lives, you will realize how the rise of AI is almost identical to the rise of the internet. Perhaps, now is the right time to take advantage of this fast-paced, emerging trend, and get involved in building the future as you gain expertise through a masters in artificial intelligence.
You Can Make a Positive Impact on the World Through AI
Movies have portrayed artificial intelligence as a bunch of robots threatening to take over the world and destroy humanity. However, that’s not the case. In fact, AI is actively being used to solve real-world problems. Scientists are using AI to prevent climate change and global warming, doctors are using AI to perform surgical procedures with fewer risks, and several other professions are taking advantage of AI to make a positive impact on the world. If you are a person that wants to have work in a profession that would be helping the world, earning a masters in artificial intelligence might be the right step for you.
Very High Job Demand
Since AI has been an emerging trend, there has been more demand than supply for AI specialists. It’s true that there is a shortage of AI specialists, since AI didn’t exist with that much influence before. In addition, there are constant updates and technologies that develop in the world of AI that companies need specialists that would keep those companies up to date with the most advanced AI technologies. There has been a 21% projected growth for AI engineers between 2021 and 2031. This projected growth is considered faster than the average projected growth for all other occupations.
A Masters in Artificial Intelligence Puts You Ahead
Since AI has been an emerging field with a very high demand for AI specialists, it has been hard for companies to find qualified AI specialists. This advanced level of AI hasn’t been around for a long time, so very few people have had the chance to fully explore it and become experts specialized in the field. By pursuing a masters in artificial intelligence, you will learn all foundations and skills that are required to help you adapt to the fast-paced environment of the AI field. In addition, you will become an expert in the field, which means that earning a masters in artificial intelligence will give you an incredible competitive advantage in the field of AI.
Specializations in Artificial Intelligence
There are various career paths that you can try with a masters in artificial intelligence. In some masters in artificial intelligence programs, you will have the ability to specialize in a specific area that interests you. By specializing in a specific area that you’re interested in, you will stand out in front of employers as a person with a lot of expertise and experience in that area. Some common specializations in artificial intelligence include autonomous system design, machine learning, and AI in medicine.
Autonomous System Design
Autonomous system design is the process of creating systems that can operate independently and with minimal intervention from humans. They also are supposed to function, perform tasks, and make decisions without having a real human supervising them. An example of machines that use autonomous system design are self-driving cars, drones, and other kinds of robotics. There are several job roles in the field of autonomous system design, like an autonomous system design engineer or a robotics engineer.
Machine Learning
Machine learning is a subcategory of artificial intelligence that uses data and algorithms to try to simulate the way humans learn. Graduates with a masters in artificial intelligence that specialize in machine learning will work on researching, building, and designing machine learning systems. A lot of times, machine learning engineers will work with data scientists that develop models that are used to build AI systems. Machine learning engineers will often create machine learning algorithms, test AI systems, and perform statistical analysis.
AI in Medicine
Another specialization for someone pursuing a masters in artificial intelligence is AI in medicine. AI in medicine is used in medicine to help develop models that search medical data and uncover information that helps improve patient experiences and health outcomes. Some of the current uses of AI in medicine is that it helps medical professionals make decisions on what treatments and medications to give to their patients. Also, AI is used by medical professionals to analyze CT scans, x-rays, MRIs and other images because it’s possible that an AI would find something in those images that a human didn’t notice.
Timeline and Curriculum
The length of a masters in artificial intelligence varies depending on which program you choose. However, many masters in artificial intelligence programs can be completed in one to two years. Graduate students enrolled in the program are usually required to take core courses that build their basic understanding of artificial intelligence, elective courses that they choose depending on their interests, and projects or research that demonstrate their understanding of the material they have learned. Some common core courses include principles of AI, machine learning, design and analysis of algorithms, and frameworks for AI.
On the other hand, some common elective courses include cryptography, natural language processing, and deep learning. Usually, by the end of the program, students will be required to work on a capstone project where students demonstrate their skills and these projects can become part of their portfolios.
Costs for a master’s degree in artificial intelligence vary depending on which program you attend. However, many programs offer financial assistance through need-based financial aid, merit-based financial aid, fellowships, scholarships, and student loans. Applying for loans could be more difficult for international students, but international students could still receive private loans through specific institutions.
Requisites and Admissions
Applicants applying to masters in artificial intelligence programs are expected to have a Bachelor’s degree in a STEM field, preferably computer science or computer engineering. An applicant doesn’t have a U.S. Bachelor’s degree, then a four-year equivalent should be enough for most programs. To apply to masters in artificial intelligence programs in the U.S. applicants need to submit a GRE or GMAT exam score. Also, most programs will require between one and three letters of recommendation, a resume, and a personal statement among other things that a program would ask students to submit.
Masters in Artificial Intelligence for International Students
Masters in artificial intelligence programs meet the standards of a STEM program according to the qualifications set by the U.S. Department of Homeland Security. STEM is an abbreviation that includes disciplines that relate to science, technology, engineering, and mathematics. Graduating from a STEM program allows international students holding an F1 visa to legally work in the U.S. after graduating. Generally speaking, International students have 12 months to legally work in the U.S. via their Optional Practical Training (OPT). However, a STEM degree gives international students an additional 24 months of OPT, which allows international students with a F1 visa to legally work for 36 months after graduating. Also, International students that come from countries that don’t speak English as their first language are expected to submit TOEFL or IELTS scores to demonstrate their ability to speak the English language.
Masters in Artificial Intelligence Post-Graduation Salaries
Graduate students that work in the field of AI have the opportunity to work in many high paying jobs. For example, an AI engineer’s median annual salary is $126,536. Similarly, a machine learning engineer’s median annual salary is $145,296, and a data scientist’s median annual salary is $119,313. In addition, the compound annual growth rate of 38.1% is expected to increase the worldwide artificial intelligence market size.
Conclusion
In conclusion, a masters in artificial intelligence is a great step towards your career that will prepare you with the right skills and knowledge to excel in whatever job you get. There are several benefits that come with getting involved in the field of artificial intelligence. When choosing your specialization, it’s also good to keep in mind what your interests are and if there are any specific areas that you would enjoy exploring more than others. Finally, make sure that you choose a program that meets your needs financially, academically, and socially. Always make sure to choose a program that’s a good fit for you.
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