Globalization has resulted in a growing demand for advanced skills that impact the global economy and specific markets. Luckily, it also gives us access to information critical to learning new skills and creating value. The options for both basic and advanced education are endless, and everyone who has access to the internet (roughly 59% of the global population) can acquire competitive skills on the global market.
Did you know that in 2019, there were almost 4 million college graduates in the United States alone? What does that information tell you? Well, it is becoming a huge trend to have a higher education, but the more important question is — which degree to choose?
Keep reading for information about 5 exciting and modern professions worth studying hard for.
1. Digital business
Currently, business is going through the transition of digitalization. Statista predicts that digital commerce will count more than 4.4 billion users globally by 2023. Brick-and-mortar businesses have begun to realize the importance of digitalization, which opens a huge market for many specialized skills, including web and app development, digital marketing, graphic design, and many more.
With the rising popularity of crowdfunding platforms such as Kickstarter, it has become much easier to fund a digital project, serve targeted customers, and bring value to the world. Don’t forget that the most influential social network — Facebook — began as an idea for Mark Zuckerberg while he was still at university.
The market for digital business is rapidly growing without any signs of a slowdown, so investing in studying digital business can’t be a miss.
2. Internet of things (IoT)
Did you know that the IoT market is predicted to reach a stunning $1.1 trillion by 2026.? If you compare it to ‘only’ $190 billion in 2018, you can see the potential of the market, which is only in its initial phase. In short, IoT is the ability of electronic devices to send and receive data through the internet. So, for instance, imagine the room filled with electronic devices, such as coffee makers, thermostats, stereo, and lamps, all of which interact with you.
Well, the most comprehensive research about IoT industry and market demands conducted by Inmarsat indicates that more than 45% of organizations lack IoT skills and professionals. If there’s already a lack of IoT professionals and the market experienced such rapid growth, it’s a good indicator that the field is worth exploring.
3. Artificial intelligence & deep learning
One aspect of artificial intelligence (AI) is the goal of replacing routine tasks that are currently handled by human employees. This would allow human employees to concentrate on more creative tasks machines aren’t able to perform. According to IDC, the AI market grew to almost $36 billion in 2019, which recorded a whopping increase of 44% compared to the previous year. It’s evident that businesses are slowly turning to AI, especially in performing low-level operational tasks.
Deep learning is another complex and broad field connected to AI. It’s a process in which a machine ‘learns’ to perform specific procedures more effectively by each iteration. Sophisticated computer algorithms are used to perform machine-learning operations, a task which creates an enormous demand for specialized computer programmers. For instance, Netflix uses a machine-learning algorithm that creates the recommendations presented to users.
Pursuing a programming or AI degree will open many doors, especially if you’re following the exponentially growing trends in the AI industry. For even more motivation, read this interview following the experience of Ukrainian student who’s studying programming abroad and learn about the benefits and opportunities it brings to her professional development.
4. Data science
The digital era has ushered in an extraordinary amount of information and data that must be organized and structured in a logical way and also easily perceived and understood by billions of users worldwide. Understanding and finding meaning in historical data gives a competitive edge in business. According to Payscale, an average salary for a data scientist is about $96,000 annually. If that sum isn’t enough motivation, did you know that data science plays a critical role in business, especially when we’re talking about executive management, decision making, mitigating risks, testing and finding the most effective solution?
As the market size of data science is predicted to reach a whopping $140 billion by 2024, compared to around $38 billion in 2019, you can just imagine a massive demand for this critical and high-paying role in various industries.
Did you know that a cybersecurity market is predicted to reach a whopping $134 billion by 2022? How about that up to 68% of business leaders feel that sensitive business data and finances are under the risk of cyberattacks? These shocking statistics indicate the importance and volume of the cybersecurity market. You can get the idea of the rising importance of cybersecurity in business, especially nowadays, when the trend of digitalization is peaking. Did we mention that the annual salary in a cybersecurity field averages $89,000, according to Payscale?
Picking your future profession requires a strategic approach
Studying at university is fun and brings meaningful connections and relationships to your life, but it’s also a time in your life that requires a tremendous amount of energy and focus. Why not be strategic in approaching the choice of your future profession?
Find out what sparks the interest in you and write it all down. Then, research the present market and future trends. Ask yourself — is there a future demand for the profession you’re thinking of studying? Don’t forget to support your final decision with statistics.