What’s the Job Demand for Artificial Intelligence (Ai) Professionals in Malaysia?
Artificial Intelligence (Ai) Specialists Job Demand in Malaysia
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What are the best careers for the future? Everything is constantly changing and jobs are disappearing being replaced by technology. How can students prepare for the jobs of tomorrow—today? Nobody can say for sure what the future holds. The best students can do is make educated guesses based on past and current job trends based on facts and evidence.
With the evolution of technology, the current job landscape in Malaysia has changed drastically. In many industries and countries, the current in-demand occupations or specialties did not exist 10 or even five years ago. The rise of technology has led to a disruption in the way we work and live. The Digital Era has changed the way we work and Artificial Intelligence (Ai) is just one example. Find out what the job demand is for Artificial Intelligence (Ai) is in Malaysia so that you can make the right decision in choosing a course that will be still relevant when you graduate and get you a job.
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What is Artificial Intelligence (AI) and the Job Demand?
Artificial Intelligence (AI) is a branch of computer science that aims to create intelligent machines that mimic human intelligence. There are various types of human intelligence like decision-making, reasoning, language understanding and learning. Basically, AI tries to learn, understand and model intelligence as a computing process.
Just as we use our brains to learn from new information gathered by our senses, AI learns from information fed to it—either many examples of an image, say, or the rules of a game—and processed according to how it is programmed. When AI is programmed to follow an algorithm, it is called machine learning. AI can handle massive amounts of data that our brains simply cannot cope with.
There are different ways machine learning can be employed: deep learning by using artificial neural networks, reward-based learning, and learning based on statistical principles. Many AI programs are used for analyzing and processing images or speech or extracting information from them. Deep learning is often used for making predictions, like medical diagnoses or possible credit card fraud.
Artificial Intelligence can be used to solve real-world problems by implementing the following processes/ techniques:
- Machine Learning
- Deep Learning
- Natural Language Processing
- Expert Systems
- Fuzzy Logic
What is the Demand for Technology Jobs in Malaysia?
Malaysia government’s focus was also in line with its efforts to meet the challenges of the Industrial Revolution 4.0 (IR 4.0) that requires highly skilled human capital. More new job opportunities would emerge as the digital revolution unfolded, and cited the World Economic Forum’s estimate that 65% of the workforce will work in the yet to be created job sector because it requires digital skills.
As the digital economy grows, Malaysia must be prepared to choose jobs that will be in demand in the future as well as still exist. 75 million job roles are expected to disappear by 2022 according to the “Future of Jobs Report 2018” by the World Economic Forum,. Furthermore, another 133 million roles are expected to emerge.
According to the Malaysia 2019 Salary Increase & Total Compensation Measurement Survey by Aon plc, median pay for jobs in engineering and technology are relatively higher than all other job roles across the Malaysia market. Those working in engineering roles earn, on average, 14 percent higher and those in technology such as cyber security and information technology, earn 12 percent more than other job functions within the Malaysia market as a whole. Fresh engineering and high-tech graduates enjoyed a 16 percent higher starting median salary compared to fresh graduates in other functions.
The Fourth Industrial Revolution (Industry 4.0), artificial intelligence (AI), innovation, automation, Internet of Things (IOT) and other technological advancement would impact all industries. The Industry 4.0 will change the kinds of jobs needed across all market sectors. Therefore, students must possess the right skills to value-add, creative, empathetic and interactive in a technology-driven job landscape.
Where do Most AI Professionals Work in Malaysia?
Most of AI specialists work in applied AI to program smart systems that can think like humans. For example, to recognise a face (face recognition), address questions or instructions (chatbot) and solve problems.
AI specialists mostly work at research centres of universities, small AI development companies, banking sectors, automotive industries, healthcare facilities and government agencies.
Many of the popular recent applications of AI in industry have been based on Machine Learning (ML), which gives computers the ability to learn, improve business decisions, increase productivity, detect disease, forecast weather, etc.
Currently, the most hot-trend application is Sentiment Analysis, a type of text mining or text analysis which can be used to review products for business, predict highs and lows of stock markets, and identify views expressed by people in political debates.
What is the Job Demand for Big data, AI and cybersecurity skills in Malaysia?
When choosing the right course to study in Malaysia, one important criteria that students should look at is the job demand. Choosing to study a course that has future potential high job demand and salary would ensure that you have a higher chance of a successful career that would support your lifestyle goals.
With the evolution of technology, the current job landscape in Malaysia has changed drastically. In many industries and countries, the current in-demand occupations or specialties did not exist 10 or even 5 years ago. The rise of technology has led to a disruption in the way we work and live. The Digital Era has changed the way we work.
Meanwhile in the tech and transformation industry, candidates moving jobs can expect salary increments of 20% to 30%, and the top skills in demand are big data and AI, cybersecurity, and agile and scrum. The top trends in this sector are emerging tech and digital transformation, e-wallets and payments, and digital forensics and cybersecurity.
Like sales and marketing professionals, only 18% of tech and transformation professionals stay less than two years in a role.
About 45% of professionals in this sector expect a 7% to 15% annual salary increment while 43% expect 0% to 6%. Meanwhile, 12% expect an annual salary increment of more than 15%. The top motivators for moving jobs are career progression 931%0, better compensation and benefits (26%), improved work-life balance (14%), and a change in role and responsibilities (11%).
- The World Economic Forum (WEF) in its Future of Jobs report, characterises Industry 4.0 as the developments of genetics, artificial intelligence, networked devices, robotics, nanotechnology, 3D printing and other smart technologies.
- In Malaysia, IT spending in 2018 is forecast to rise 5.7% to RM65.2 billion, faster than the projected global pace of 4.5%. The increased spending will be focus on adopting business digitalisation, blockchain technology and big data to encourage learning and artificial intelligence. According to Kelly Services 2018/2019 Salary Guide, 1 million professionals in the digital space is required in Malaysia by 2025.
- 11 per cent to 54 per cent of jobs in Malaysia can be significantly affected by AI in the next two decades and 7.4 per cent of Malaysian workers are at risk of being displaced by 2028.
Why is Artificial Intelligence (Ai) Important for you to Consider as a Career Path?
Artificial Intelligence (Ai) as a career is big now and will become extremely high in demand in the future. Students who are interested in Computer Science may consider this as a specialisation. Employers and companies in Malaysia and globally are scrambling to get graduates who are proficient in Artificial Intelligence.
- Artificial Intelligence (AI) automates repetitive learning and discovery through data. But AI is different from hardware-driven, robotic automation. Instead of automating manual tasks, AI performs frequent, high-volume, computerized tasks reliably and without any rest or stopping. For this type of automation, human inquiry is still important to set up the system and ask the right questions.
- Artificial Intelligence (AI) adapts through progressive learning algorithms to let the data do the programming. AI finds structure and regularities in data so that the algorithm acquires a skill: The algorithm becomes a classifier or a predictor. So, just as the algorithm can teach itself how to play chess, it can teach itself what product to recommend next online. And the models adapt when given new data. Back propagation is an AI technique that allows the model to adjust, through training and added data, when the first answer is not quite right.
- Artificial Intelligence (AI) gets the most out of data. When algorithms are self-learning, the data itself can become intellectual property. The answers are in the data; you just have to apply AI to get them out. Since the role of the data is now more important than ever before, it can create a competitive advantage. If you have the best data in a competitive industry, even if everyone is applying similar techniques, the best data will win.
Artificial Intelligence (AI) adds intelligence to existing products. In most cases, AI will not be sold as an individual application. Rather, products you already use will be improved with AI capabilities, much like Siri was added as a feature to a new generation of Apple products or Bixby to Samsung products. Automation, conversational platforms, bots and smart machines can be combined with large amounts of data to improve many technologies at home and in the workplace, from security intelligence to insurance or investment analysis.
- Artificial Intelligence (AI) analyzes more and deeper data using neural networks that have many hidden layers. Building a fraud detection system with five hidden layers was almost impossible a few years ago. All that has changed with incredible computer power and big data. You need lots of data to train deep learning models because they learn directly from the data. The more data you can feed them, the more accurate they become.
- Artificial Intelligence (AI) achieves incredible accuracy through deep neural networks – which was previously impossible. For example, your interactions with Alexa, Google Search and Google Photos are all based on deep learning – and they keep getting more accurate the more we use them. In the medical field, AI techniques from deep learning, image classification and object recognition can now be used to find cancer on MRIs with the same accuracy as highly trained radiologists.