About

Machine learning, artificial intelligence (ML & AI) and big data form up a new niche area that is seeing a fast-paced growth rate in India. To clarify terminologies for a layperson, AI is basically all about mimicking human intelligence in machines, ML is a sub-set of AI and is about techniques that enable these machines to continuously learn on their own through data and perform a desired set of processes. Big Data analytics is about extracting huge data and observing unanticipated patterns from the same, while ML uses the same to provide incremental data/information to help the machine learn on its own.

Some Statistics

Data science and big data industry in India is growing at 33per cent CAGR (Compounded annual growth rate) and stood at $2.71 Billion in 2018. While the Finance & Banking industry leads the share in the analytics market, travel-hospitality and healthcare saw the fastest growth in recent years, in terms of analytics-use. ML-AI and Big Data are offering growth opportunities not just to established large businesses and employees but are becoming backbones of new-age, innovative startups. Startups employ 28per cent of analytics professionals and have created a huge impact in this area. The rate at which freshers are hired in the analytics industry increased by 33per cent in the year 2018; whereas about 40per cent of area-experts are below 5 years of experience. Delhi and Bengaluru lead the share in market size by revenue, followed by Mumbai, Hyderabad, Pune, Chennai and Kolkata in that order.