The future is calling & it might come with a massive financial reward. If nothing else, there are plenty of chances as tech teams, clients, and business executives rush to understand how to leverage AI technologies, such as ChatGPT and hundreds more, to advance their companies.
The World Economic Forum projected in 2020 that around 100 million new AI-related jobs may exist by 2025. Some people see those positions as advisors advising customers on the best ways to incorporate new tools. Some may call it “futurists” or “future of work consultants,” among other titles.
People are curious about artificial intelligence. Indeed, according to a poll conducted for a recent Calendly research titled “The 2023 State of Scheduling“, just 64% of employees at major firms have used AI, while 94% are interested in learning more. AI consultants fill in that gap by helping with it.
You might have a career in AI consulting if you possess the expertise and the capacity to ask insightful follow-up questions to the client. But before you set your mind to get a career in AI consulting, here’s everything about it and AI consultant salary to go ahead and prosper in the AI industry. So, let’s dig in.
What is an AI Consultant?
A consultant for artificial intelligence (AI) is a specialist who assists companies & firms in implementing AI technology. Natural language processing, computer vision, machine learning, and other fields are among the many areas in which AI consultants are proficient.
Typically, AI consultants collaborate with businesses to create unique AI solutions that address their unique requirements. Along with unique AI models and applications, they frequently offer guidance on which AI technologies are ideal to deploy.
AI consultants are in massive demand in today’s tech-driven environment. By bridging the gap between innovative technology and workable business solutions, artificial intelligence (AI) consultants assist firms in embracing and putting into practice AI-driven initiatives.
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AI consultants are essential to maximizing AI’s potential since they can develop creative solutions, optimize operations, or improve consumer experiences.
What Does AI Consultant Duties Entail?
AI consultants serve as the backbone of organizations’ AI-based decision-making processes. As such, the person holding this role will be in charge of several procedures, from organizing an endeavor to assessing and forecasting outcomes through data analysis to defining the scope and verifying the conclusion.
So, what do their fundamental duties entail? – Mainly 3!
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Planning and Implementing
AI consultants must remember various efforts rely on their overall strategy and solutions. For instance, their responsibilities may be choosing the supplier, creating solutions, selecting the execution modes & streamlining procedures for a company’s consultants.
Like any consulting firm, consultants are free to complete all or part of the task. As an alternative, and what usually happens, it can be implemented internally. However, if the client needs more technical skills to attain important objectives, commencing with consultants could help the client advance more swiftly.
Additionally, it’s more expensive in the long run to hire consultants specifically to manage implementation than to undertake similar responsibilities internally.
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Comprehending and Analyzing
Understanding the client’s approach, the potential and issues facing the company, and the sophisticated analytical capabilities in place are crucial. An AI consultant can assess if these systems require improvement or are sufficiently optimized to support the company’s growth.
The outcome of a consultant’s preliminary research may necessitate changes to a company’s overall AI strategy. For example, corporations that engage in Business Process Outsourcing (BPO) generate significant profits by managing the invoicing of other companies. However, the sales of these services are at risk since AI technology can facilitate automatic billing.
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Deploying and Enhancing Solutions
An executable version of the solution is created following the PoC’s validation using relevant data and software engineering. Vigilance is required throughout the implementation stage even if the resolution passes rigorous testing during the Proof of Concept stage since AI models and software may react differently in a production context than in a testing one.
After deployment, they must be routinely checked and evaluated to ensure the model is functioning as intended and to the necessary standard. Like any other software product, post-deployment monitoring is crucial for AI systems.
Through the MLOps procedure, which oversees the models’ continued existence after deployment to ensure consistency and dependability, consultants can keep an eye on their solutions.
AI Consultant Salary – How Much Can You Earn?
The earnings of an AI consultant in the US can vary significantly depending on factors such as experience, location, industry, and specific skills. Generally, AI consultants are highly sought after in today’s tech-driven world, commanding competitive salaries due to their expertise in artificial intelligence and machine learning.
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According to data from Glassdoor, the average base salary for an AI consultant in the United States is around $127K – $211K per year. However, this figure can range from approximately $80,000 to over $160,000 annually, depending on factors such as the consultant’s experience levels, the employer’s size & industry.
An AI consultant’s pay might differ significantly based on some variables. These include the project’s size and complexity, location, skill level, and budgetary constraints of the business. AI consultants earn more in major cities and tech centers like San Francisco, New York City, London, and Tokyo.
Experienced AI consultants are also going to make massive money. Entry-level AI consultants with limited experience may start with salaries closer to the lower end of the range & those with advanced degrees, certifications, or several years of relevant experience can command a higher payscale.
For example, AI consultants with specialized skills in natural language processing (NLP), computer vision, or deep learning may earn higher salaries due to their in-demand expertise. Furthermore, location plays a significant role in determining AI consultant salaries.
Cities with a high demand for tech talent and a higher cost of living, such as San Francisco, New York City, and Seattle, typically offer higher salaries to AI consultants in comparison with tiny cities/rural parts.
Along with base salaries, AI consultants may also get bonuses, stock choices, profit-sharing & other compensation modes as part of their overall compensation package. Moreover, experienced AI consultants may have the opportunity to advance into leadership roles or start their consulting firms, potentially increasing their earning potential further.
Overall, while the average salary for AI consultants in the US is around $113,000 per year, actual earnings can vary widely based on different factors, making it a lucrative & rewarding career option for people with the desired skills & experience.
Become an AI Consultant – 5 Steps To Do
Make sure you understand AI basics well before delving into AI consulting. As you deal with this tech daily, you want to come across as assured when giving customers advice. Create AI projects to get hands-on experience with machine learning tools and frameworks.
These kinds of work will look great in your portfolio and let potential clients see how talented you are. As your confidence grows, you may put your abilities to the test by taking part in hackathons. Create networking and learning opportunities with these events.
If you’re getting started in AI, it might be a good idea to seek internship opportunities where you can practice addressing problems in the real world. Through internships, you may pick up tips on industry best practices from mentors and seasoned experts, which you can use in your future career.
What else can you do?
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Acquire the Essential Skills
Technical and soft abilities are needed to work as an AI consultant. Technical talents include machine learning methods, natural language processing, computer vision, data visualization, and programming languages like R or Python.
Conversely, soft skills encompass communicating, solving problems, thinking critically & managing projects. As an AI consultant, you will have to lead stakeholders through the adoption process of AI by skillfully explaining complicated ideas to both technical and non-technical audiences.
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Gain the Right Education
Being formally educated in artificial intelligence (AI) or similar subjects like computer science or data science is advantageous, but it isn’t mandatory for an AI consultant. On the other hand, going after a degree or certification program might show your dedication to the area and offer a strong foundation.
AI-specific courses are available at several universities and online, covering topics from foundations to advanced concepts. Furthermore, being certified by respectable companies like Google, IBM, or Microsoft might help you become more credible as an AI consultant.
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Build a Strong Foundation in Data Science
The core of AI consulting is data science. Thus, having a solid background in this field is essential. Gaining a foundational understanding of data collection, preprocessing, feature engineering & exploratory data analysis allows you to extract meaningful insights from data. Effective data interpretation and communication will be facilitated by knowledge of statistical principles, methods, tools & data visualization approaches.
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Master Programming Languages for AI
Being proficient in programming languages is essential for successfully deploying AI technologies. Meanwhile, AI, ML & Python are considered the preferred languages. Learn about Python and the AI frameworks and libraries that it offers.
Get a solid foundation of object-oriented programming, data structures, and Python syntax. Additionally, for some AI consulting assignments, proficiency with R, another widely used language for statistical modeling and data analysis, might be helpful.
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Stay Abreast of the Latest AI Trends and Research
AI is a region of fast-paced development, with the latest research & discovery being shared often. Through research papers, conferences, online forums & credible AI publications, stay updated on the most recent advancements, trends, and best practices in AI.
To keep on top of AI developments and be able to offer your clients cutting-edge solutions, pursue ongoing education and professional development. Keep yourself updated on the most recent developments in AI by keeping up with the fast-paced technological advancement.
To accomplish this, you must be very involved in the sector. Imagine attending conferences/seminars & reading trade journals and news items. Always be willing to learn new things to stay updated on the latest developments.
Wrapping Up
Being an AI consultant does not imply that you will stay in one position forever. Companies are constantly seeking innovative methods to reduce expenses and increase revenue & can discover chances to advance your career and earn more AI consultant salaries.
To learn more and get ready for positions of more responsibility, imagine enrolling in graduate-level programs like a master’s or Ph.D. Gaining expertise in natural language processing, machine learning, and deep learning can also help you get better-paying jobs.
Various certifications can attest to your expertise in artificial intelligence, which can earn you the trust of clients who will assign you greater responsibility. The field of AI is dynamic. Thus, have an open mind to encourage lifelong learning. Be updated on the latest trends & offer your clients enough clarity.
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