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blog / Business Management Learn Why Online MBA Programs Can Boost Your Career Path

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According to the U.S. Bureau of Labor Statistics, the employment growth rate in management positions will touch 8% between 2023 to 2031, leading to the creation of about 883,900 new jobs over the decade. This will create a plethora of opportunities for Master’s in Business Administration (MBA) aspirants to pursue the courses in their interested specialization, and build a bright career in the management sector. One of the ways of leveraging this potential is signing up for an online MBA program. In this blog, we’ll discuss how it can help you achieve your career goals and how to make the right selection.

What are the Benefits of Online MBA Programs?

Flexibility:

An online MBA program gives you the freedom to pursue the course from anywhere in the world and at your convenience. In addition, online MBA programs provide flexible learning schedules, with coursework that allows you to watch live video courses, participate in discussion forums with classmates, and take quizzes at any time and from anywhere.

Credibility:

The reputation of an online MBA school is impacted by its accreditations. When hiring MBAs, most employers prioritize candidates with degrees from well-respected institutions. Thus, it is essential to consider the legitimacy of an online MBA program whenever one is contemplating such a move.

READ MORE: How to Chart a Successful Career in Business Management

How to Choose the Best Online MBA for You: Factors to Consider Beyond Rankings

The total number of accredited US colleges and universities with fully online MBA programs increased from 284 to 526, between 2024-17 and 2023-21,an 85% surge. Given this growth, here are the criteria to consider to help you make the right choice. 

1. Admission Process

The application procedure for an online MBA differs across universities. Most colleges and business institutions provide direct admission (based on under-graduate results) while others conduct their own entrance exams. Due to the restricted number of seats, some B-schools have different requirements for admission, which may involve presentations and online interviews. Hence, before submitting an application, candidates must thoroughly understand the admissions process and see what works for them.

2. Course Curriculum

It is important to research the courses offered in the MBA program of your choice. After that, you may review the B-school’s curriculum to ensure it meets your needs. If the school and program are legitimate, this shouldn’t be a problem, but it is still a good idea to learn as much as possible about the curriculum.

3. Careers and Placements 4. Program Fees

Online MBA programs have proven to be a lifesaver for many aspirants because a regular MBA is known to be expensive worldwide. Due to financial constraints, many candidates have given up on their plans to pursue management education. Such candidates can take online MBA courses with low fee rates.

5. Reviews

You may learn a lot about an online MBA program by talking to past students. They are likely to give you a balanced view of the pros and cons, so that you can make an informed decision. 

What Can You Do With an MBA?

You’ll have a variety of opportunities in various roles across several industries and at businesses of all sizes, after completing an online MBA program. 

Here is the list of some industries who give prefer MBAs

Consulting

Energy

Finance/accounting

Health care

Technology

Manufacturing

Nonprofit/government

Consumer products/services

Retail, transportation, education, engineering, real estate, property management, and the media are all viable options for an MBA graduate, in addition to the fields listed in the GMAC poll.

MBA graduates work in a number of departments in organizations because of their broad expertise, including

Executive offices

Human resources

Accounting

Auditing

Research and product development

Data analytics

Marketing

Business development

Information technology

Operations

Productions

Logistics

In-house counsel

Though specific titles may vary with organizations, the following are some positions that are typically filled by someone with an MBA.  

Accounting manager

Finance manager

Financial analyst

Budget analyst

Data analyst

Investment banker

Investment fund manager

Marketing manager

Market research analyst

Human resources manager

Sales/business development manager

Program manager/director

Brand manager

Product manager

Project manager

Operations manager

Risk manager

Supply chain manager

Logistics

Further, in the context of the C-suite and other executive and managerial roles:

General manager

Department/division director

Department/division executive director

Chief executive officer

Chief operations officer

Chief financial officer

Chief marketing officer

Chief technology officer

Chief information officer

Questions to Ask Yourself as You Consider Your MBA Options

If you have carefully considered the key distinctions between full-time, on-campus MBA programs and online MBA programs but are still unsure which is best for you, the answers to the following questions can help you make a decision.

Do you want to pursue an MBA program while working full-time?

Are you planning to complete a summer internship?

Do you want to skip the GMAT?

What are your career goals?

Are you in a financial position to pursue an MBA?

What are you planning to get out of your degree?

Online MBA Career Path

Another reason to get an MBA is good compensation. Of course, remuneration will vary depending on a number of criteria such as location, previous employment history, and type of business.

Here is a list of typical jobs which require master’s in business administration with their average annual national salaries from the U.S. Bureau of Labor Statistics (BLS) to give you an idea of what you might expect in terms of pay package.

1. Accountants and Auditors

National average: $69,530

An industry with the highest average salary for this type of position: Finance and Insurance ($74,140)

2. Market Research Analyst

National average: $63,230

Industry with the highest average salary for this type of position: Publishing

($79,450)

3. Budget Analyst

National average: $75,240

Industry with the highest average salary for this type of position: Professional, Scientific, and Technical Services ($82,360)

4. Financial Analyst

National average: $84,300

Industry with the highest average salary for this type of position: Securities, Commodity Contracts, Financial Investments, and related activities ($100,180)

5. Financial Managers

National average: $125,080

Industry with the highest average salary for this type of position: Professional, Scientific, and Technical Services ($140,040)

6. Human Resources Managers

National average: $119,120

Industry with the highest average salary for this type of position: Management of Companies and Enterprises ($124,540)

7. Sales Managers

National average: $121,060

Industry with the highest average salary for this type of position: Finance and Insurance ($152,590)

8. Marketing Managers

National average: $129,380

Industry with the highest average salary for this type of position: Advertising, Public Relations, and related services ($123,640)

9. Operations or General Managers

National average: $100,410

Industry with the highest average salary for this type of position: Professional, Scientific, and Technical Services ($137,950)

10. Chief Executives

National average: $183,270

Industry with the highest average salary for this type of position: Professional, Scientific, and Technical Services ($208,000)

While these figures can help you get an idea of your earning potential in your desired field or encourage you to consider a new field, it is also important to note that these numbers may vary.

Making the commitment to attend an online MBA program is a significant step to boost your career path. It adds value in your resume, makes you an appropriate fit for the job role, and offers you the management position that you always desire to attain. You can enroll for Emeritus online business management courses to enhance your career in the management field.

By Riku Ghosh

Write to us at [email protected]

You're reading Learn Why Online Mba Programs Can Boost Your Career Path

How Hyperautomation Can Boost Your Career Prospects: A Guide

blog / Artificial Intelligence and Machine Learning Why Hyperautomation is Becoming a Business Essential: A Comprehensive Guide

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Modern organizations constantly seek ways to work smarter, improve efficiency, and stay competitive. One of the most transformative trends in achieving these goals is hyperautomation. In brief, hyperautomation is increasing the automation of business processes by introducing Artificial Intelligence (AI), Machine Learning (ML), and robotics. In this blog, we will first highlight its growing demand in the market. Second, we will explore how it is revolutionizing business processes. And, third, we will understand how it creates new job opportunities, especially in AI and ML.

What is Hyperautomation, and Why is it Becoming More Critical in Today’s Business World?

As businesses strive to improve efficiency, reduce costs, and enhance customer experiences, hyperautomation has become crucial. In fact, according to Salesforce, 80% of businesses are already planning on implementing it by 2024. It could enable organizations to achieve digital transformation by automating entire processes and seamlessly integrating systems. Additionally, by embracing it, businesses can boost productivity, foster innovation, and gain a competitive edge.

ALSO READ: The Pros and Cons of Automation in the Workplace

How Does Hyperautomation Differ From Traditional Automation Practices?

While traditional automation focuses on streamlining individual tasks, hyperautomation takes a holistic approach by automating complete business processes. Furthermore, traditional automation relies on rule-based algorithms, but hyperautomation utilizes AI and ML algorithms to analyze vast amounts of data and adapt to changing conditions.

Therefore, unlike previous automation methods, it can handle complex decision-making processes that involve unstructured data and variable situations. Moreover, it combines multiple technologies into a unified system, providing intelligent insights, and automated actions. Thus, incorporating various technologies offers new opportunities for businesses to optimize processes and drive innovation.

What are the Leading Technologies Driving Hyperautomation? Robotic Process Automation (RPA)

Robotic process automation automates repetitive tasks based on predefined rules. This frees up employees’ time and allows them to focus on more valuable work. Moreover, RPA bots can perform tasks across different applications and systems, mimicking human actions.

Machine Learning

Machine learning algorithms enable systems to learn from data and improve their performance over time. Through ML, hyperautomation systems can recognize patterns, make predictions, and continuously optimize processes based on real-time data.

Artificial Intelligence

Artificial intelligence empowers hyperautomation systems to perform complex tasks that require cognitive abilities. These include natural language processing, computer vision, and decision-making. Therefore, by integrating AI into business processes, organizations can automate tasks that previously required human intervention.

Business Process Automation (BPA)

Business process automation automates end-to-end business processes, including human and system interactions. It aims to enhance efficiency, reduce errors, and improve collaboration by automating workflows, data exchange, and task management.

How can Hyperautomation Improve Efficiency, Accuracy, and Productivity?

Hyperautomation brings several benefits to organizations looking to optimize operations and boost productivity. Here are some ways in which it improves efficiency, accuracy, and productivity:

Streamlined Processes

It eliminates manual and repetitive tasks, allowing employees to focus on more valuable activities. Moreover, by automating workflows, organizations can reduce errors, improve turnaround time, and enhance overall process efficiency.

Data-Driven Decision Making

Enhanced Customer Experiences

It enables businesses to provide better customer experiences by automating customer interaction processes. It ensures faster response times, personalized services, and improved satisfaction.

Increased Accuracy

By automating tasks, hyperautomation reduces the risk of human errors, improving output accuracy and quality. This, accordingly, is particularly beneficial in areas—for instance, data analysis and compliance processes—where precision is crucial.

ALSO READ: How to Become a Robotics Engineer: Follow These Easy Steps

What are the Potential Challenges in Implementing Hyperautomation? Legacy Systems Integration

Integrating it with your current infrastructure can be highly challenging. However, businesses can overcome this challenge by working with experienced professionals specializing in system integration, thus ensuring system compatibility.

Change Management

While implementing hyperautomation may require changes in processes, roles, and responsibilities within the organization, businesses should prioritize change management strategies, train employees, and communicate its benefits to gain support.

Data Security and Privacy

It involves handling large amounts of data, which raises concerns about security and privacy. Organizations should, therefore, adopt robust cybersecurity measures, comply with data protection regulations, and ensure secure data handling practices throughout the automation process.

Boost Your AI and ML Career With Emeritus

Hyperautomation is reshaping the business landscape by revolutionizing processes and creating new job opportunities. In fact, by leveraging technologies such as RPA, ML, and AI, organizations can achieve digital transformation, streamline operations, and improve productivity. Although there are challenges in implementing it, businesses can overcome them with careful planning and effective change management.

By Tanish Pradhan

Write to us at [email protected] 

Choosing The Right Career Path In Accouonting

What is Accounting Career?

Download Corporate Valuation, Investment Banking, Accounting, CFA Calculator & others

Top Career in Accounting

1. Personal Financial Advisors Responsibilities

Understand the client’s financial goal or objective and capability to absorb risk

Explain to the client the different available investment options and the potential risks associated with them

Recommend appropriate investment opportunities to the client or invest in them on behalf of the client

Help clients build the perfect financial asset catering to their specific requirements, such as retirement fund or educational expenses

Monitor and update the client’s investment portfolio in accordance with its financial performance or change in financial goal

Educational Requirement Salary Job Outlook 2. Tax Examiners/Collectors/Revenue Agents

As a tax examiner or collector or revenue agent you have to assess the tax liabilities of businesses and individuals and then collect them on behalf of local, state, and federal authorities.

Responsibilities

Evaluate tax returns in order to assess whether the claimed credits or deductions are permissible under the applicable tax law

Follow-up with taxpayers for additional documentation required for tax filing

Carry out field audits to investigate information pertaining to income tax returns

Keep track of changes in tax laws and regulations

Maintain records for all the assigned cases

Inform taxpayers in case there is over-payment or under-payment of taxes

Educational Requirement

In order to become a tax examiner, you will need a bachelor’s degree in accounting or specialized experience in auditing or tax compliance. On the other hand, to become a revenue agent you will need a bachelor’s degree in accounting, economics, or business administration. To become a tax collector you will require both relevant college education and specialized experience.

Salary

As per the US Bureau of Labor Statistics, the median compensation of tax examiners, collectors, and revenue agents in the US was $54,440 in May 2023, with the bottom 10% earning less than $32,500 while the top 10% earning more than $101,120.

Job Outlook

The job opportunities for tax examiners, collectors, and revenue agents in the US are expected to decline from 58,200 in 2023 to 56,800 in 2028, at a CAGR of -0.24%.

3. Financial Analysts

As a financial analyst, you will be guiding both individuals and businesses in making investment-based decisions, such as stocks, bonds, etc.

Responsibilities

Build portfolios investment catering to each individual’s requirement

Regularly appraise the financials of the entities in the portfolio

Keep track of the ongoing business and economic trends

Evaluate the company’s financials in order to determine its enterprise value

Prepare a detailed report for the companies

Educational Requirement

In order to become a financial analyst, you will need a bachelor’s degree in accounting, finance, economics or statistics.

Salary

As per the US Bureau of Labor Statistics, the median compensation of financial analysts in the US was $85,660 in May 2023, with the bottom 10% earning less than $52,540 while the top 10% earning more than $167,420.

Job Outlook 4. Budget Analysts Responsibilities

Help project managers in developing the organizational budget

Check whether the budget proposals are complete, accurate, and compliant with the applicable laws and regulations

Consolidate the budget of all the departments to build the organization-wide budget

Advocate and justify the funding requests to other stakeholders of the organization

Continuously monitor organizational expenditure and ensure that it doesn’t exceed budget

Update all the project managers regarding fund availability

Forecast upcoming budgetary requirement

Educational Requirement

In order to become a budget analyst, you will need a bachelor’s degree in accounting, economics, finance, business or statistics. However, the requirement might vary across local, state, and federal governments.

Salary

As per the US Bureau of Labor Statistics, the median compensation of budget analysts in the US was $76,220 in May 2023, with the bottom 10% earning less than $49,860 while the top 10% earning more than $116,300.

Job Outlook

The job opportunities for budget analysts in the US are expected to grow from 56,900 in 2023 to 59,400 in 2028, at a CAGR of 0.43%.

Recommended Articles

This is a guide to Accounting Career. Here we discuss some of the career paths in the field of accounting along with responsibilities, educational requirements, salary, and job outlook. You may also look at the following articles to learn more –

Big Data Analyst: Boost Your Career With These 10 Data Skills

blog / Data Science and Analytics Top 10 Technical Skills to Get a High-Paying Data Analyst Job

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The global big data analytics market is booming and is expected to grow by more than $400 billion between 2023 and 2030. There has also been a sudden shift in data analytics trends in the last few years. According to a Gartner report, changes in the global market conditions have made it necessary to use Artificial Intelligence (AI) frameworks to increase growth and innovation, provide better governance, and enhance data analysis. It’s easy to see, then, that being a big data analyst is one of the coolest jobs in the market at present. This is especially true for professionals interested in big data and technologies such as AI and machine learning. So, let’s examine what a career as a big data analyst looks like and how rewarding it could be in the long run.

What Job Titles are Associated with Big Data Analytics?

The concept of big data analytics refers to the practice of collecting, sorting, examining, and analyzing large amounts of data to generate valuable insights for businesses. However, as all businesses and industries need market insights to make data-driven decisions and grow, one can opt for multiple big data analytics roles. In general, here are the most popular job titles that require similar skill sets:

Business analyst

Business intelligence analyst 

Data specialist

Analytics consultant

Operations analyst

Analytics specialist

Research analyst

Data engineer

Data manager

Business intelligence engineer

Quantitative analyst 

ALSO READ: Key Differences Between Data Analyst and Data Scientist: Which Role is Better

What Industries Demand Big Data Analysts?

Due to the profound use of big data, many companies are investing heavily in big data analytics. To be more precise, a staggering 97.2% of global businesses are investing in big data and AI. Therefore, all industries, whether technology, healthcare, marketing, fintech, banking, agriculture, and more, demand big data analysts to interpret data. Nevertheless, the industries with the highest demand for AI and big data professionals are:

Technology/Telecom

Finance

Advertising and marketing

Consulting

Healthcare

Retail and consumer goods

What are the Technical Skills Required to Become a Big Data Analyst? 1. Data Visualization

Data visualization generally refers to visualizing or representing data in a graphical form like charts, tables, or pictures. Evidently, the primary purpose of data visualization is to make complex data easy to understand. However, since big data involves a huge amount of data that needs to be simplified and easily explained to various stakeholders, data visualization tools and techniques have become increasingly important. In fact, data visualization is a critical aspect of big data analysis, as it enables data analysts to convey insights and findings effectively to decision-makers.

ALSO READ: How SQL for Data Science Helps with Data Visualization

2. Data Cleaning

Big data analysis requires skills and accuracy as businesses make crucial decisions based on analysis reports. Therefore, one needs to collect and analyze valuable and correct data. However, as big data is often collected in large amounts, factual errors or duplicate data are likely. Fortunately, this is where data cleaning skills come in handy as they help remove unwanted data, duplicate data, incomplete data sets, or corrupt data.

3. Data Analysis

The key role of a big data analyst is to examine and interpret data to find out uncommon trends or patterns. Strictly speaking, these trends or patterns are further analyzed to generate valuable insights for the business and make data-driven decisions and boost growth. Hence, data analysis is one of the most essential skills for a big data analyst.

4. MATLAB 5. Python

It is another powerful programming language that supports data analysis, machine learning, and artificial intelligence. Learning Python is also important for a data analyst; it helps to manipulate and analyze large data sets and build predictive models.

6. Machine Learning

Machine learning refers to building and training predictive models using algorithms to learn from and make predictions on large data sets. It is useful for a big data analyst because it can help build algorithms to process huge amounts of real-time data.

7. Artificial Intelligence

AI has a crucial role to play in big data analysis. To begin with, it automates and streamlines data preparation, data visualization, statistical analysis, predictive modeling, and other data analysis processes. To sum up, learn AI to derive maximum value from data.

8. Data Structure and Algorithms

The ability to design and implement efficient data structures and algorithms is crucial to process and manipulating large data sets. However, to acquire this skill, big data analysts need proficiency in programming languages such as Python, Java, and C++, as well as knowledge of data structures and algorithms.

9. Data Mining

The data analysis process involves discovering patterns and insights in large data sets using machine learning, statistical analysis, and other data analysis techniques. One essential skill required in this process is data mining. Furthermore, knowledge of programming languages such as Python and R and a deep understanding of AI and ML algorithms are also necessary to excel in data mining.

10. SQL and NoSQL Databases

Lastly, big data includes structured and unstructured databases, which are difficult to store and manage. Moreover, retrieving data sets from large databases is another significant challenge. As a result, it is crucial to learn Structured Query Language (SQL) and NoSQL database technologies such as MySQL, PostgreSQL, and MongoDB. Mastering these technologies makes it possible to efficiently extract, manipulate, and access data. And all this is required to ultimately succeed in working with big data.

What is the Earning Potential for a Big Data Analyst?

The average annual salary of a big data analyst in the U.S. is $78,216. However, the earning potential largely depends on skills, experience, industry, and location. Here’s a list of the average annual salary of a big data analyst according to different locations in the U.S.:

Location  Average Salary

Boston

$88,126

New York 

$91,904

Washington DC

$87,070

San Francisco 

$97,770

Chicago

$82,510

How Can Emeritus Help Big Data Analysts Move up the Career Ladder?

To conclude, AI is the core area to focus on as per changing data and analytics trends in the market. Artificial intelligence is the focus of data and analytics, whether it is learning AI adaptive systems, formalizing data-centric AI models, AI-centric data models, or building AI risk management tools. Enrolling in Emeritus’ online data science courses is the best place to acquire the necessary AI and big data analyst skills. They ensure career growth, and these courses provide opportunities for professionals to expand their network, leading to excellent opportunities in big data analytics.

Write to us at  [email protected] 

5 Career Mistakes Hampering Your Growth: Learn How To Fix Them

blog / Career Top 5 Career Mistakes That Can Slow Down Professional Growth

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In his book The Career Manifesto, Mike Steib says: “The biggest mistake in your career is to believe that you have no control over it. No matter how powerful, entrenched, or complex the system may seem, you always have the power to steer your career in the direction you want it to go.” Making and learning from career mistakes is integral to professional growth. However, some mistakes can bring down your career graph. This blog discusses people’s most common career mistakes and how to fix them.

Top 5 Career Mistakes and How to Fix Them 1. Creating Only Short-Term Goals

Focusing only on short-term goals is one of the biggest career mistakes you can make. It limits your vision and prevents you from achieving your full potential. Even though short-term goals are important for focusing your efforts and making quantifiable progress, they may not necessarily help you achieve your long-term aspirations. You may miss out on growth opportunities. And the development that can lead to bigger and better things in the future. Here is you can fix this mistake:

Assess your long-term aspirations:

Reflect on where you want to be in the next 5, 10, or 20 years. Consider what kind of impact you want to make in your field. And what kind of lifestyle you want to have and what kind of legacy you want to leave. This can help you set long-term goals that align with your vision.

Create a roadmap

: Once you have a clear vision of your long-term aspirations, create a roadmap that outlines the steps you need to take to get there. Identify the milestones you must achieve along the way, and set short-term goals aligning with each milestone.

Stay flexible

: Remember that your career path may not always go according to plan. Remain flexible and be willing to adapt your roadmap as needed. This can help you stay focused on your long-term aspirations.

2. Not Building Strong Relationships at Work

One of the major reasons cited for the former CEO of Yahoo Marissa Mayer’s downfall was her inability to foster strong professional relationships with her peers and colleagues. Despite being known for her exceptional technical skills, Mayer was criticized for lacking communication and collaboration with other executives. This made it difficult to implement changes and build momentum for the company. 

Building strong professional relationships with colleagues, supervisors, and mentors can open doors to new career opportunities. It also helps you gain valuable feedback and insights and provide support and guidance.

It also helps you stay connected and informed about industry trends, new job opportunities, and other important developments that could impact your career trajectory. If you are making the mistake of not building a professional network, here is how you can work on it:

Communicate clearly and often:

Good communication is the foundation for any strong relationship, so communicate regularly and clearly with your colleagues. This includes listening actively, expressing your ideas and concerns clearly, and asking for feedback and input.

Seek opportunities for collaboration

: Look for opportunities to work with colleagues on projects or initiatives, and be willing to contribute your skills and expertise to the team. This can help build trust and respect among your colleagues.

Show appreciation and support:

Recognize and appreciate your colleagues’ contributions, and offer support when needed. This helps foster a sense of teamwork.

Be open to feedback

: Being willing to receive feedback from your colleagues can help you see things from their perspective and connect with them.

3. Refusing to Unlearn

As your career progresses, you encounter various new trends, strategies, and methodologies. While learning is important, unlearning traditional concepts hold equal value. 

To see how ignoring this can impact your career, take the case of Kodak’s former CEO, George M. C. Fisher. Kodak once dominated the photography industry, but the company struggled to keep up with the digital photography revolution in the late 1990s and early 2000s. Why? Despite warnings from employees and industry experts that digital photography was the future, Fisher was slow to invest in digital technology and instead focused on cutting costs and streamlining Kodak’s existing operations. He struggled to unlearn traditional methodologies. As a result of this unwillingness to unlearn and adapt, Kodak struggled to compete with newer, more agile competitors like Canon and Sony and eventually filed for bankruptcy in 2012.

This example illustrates how not unlearning the old way of doing things in a highly competitive world can become one of your biggest career mistakes. Here’s how you can fix it:

Learn from others

: Seek out diverse perspectives and ideas from people who have different experiences and backgrounds from your own. This can help challenge your assumptions and expand your thinking.

Embrace new experiences:

Trying new things and stepping outside your comfort zone can help you build new skills and develop a more flexible mindset.

ALSO READ: Learning to Unlearn: The Importance of Unlearning and How to Use it

4. Not Upskilling Yourself Constantly

To avoid one of these biggest career mistakes here is what you can do:

Take online courses

: Upskill yourself by attending workshops and conferences and seeking on-the-job training opportunities. This can help you stay relevant and valuable in your industry and position you for long-term success in your career

Be proactive:

It’s important to seek opportunities to learn and grow rather than wait for your employer to provide them. By taking ownership of your professional development, you can stay ahead of the curve and build a fulfilling career

5. Seeking Advice From Multiple People

Pepper Hayes, Director of Development Operations & Communications at chúng tôi in an essay titled ‘Expensive Mistakes: How Hitting Career Rock Bottom Showed Me What I Really Learned in Honors,’ explains how she crowdsourced her career decision after completing her honors. As a result, she ended up studying law, which wasn’t really for her. 

Career Growth with Emeritus

By Sneha Chugh

Write to us at [email protected]

Prompt Engineering: Rising Lucrative Career Path Ai Chatbots Age

With the growing popularity of generative AI-powered chatbots such as ChatGPT, Google Bard, and Microsoft Bing Chat, the demand for professionals skilled in prompt writing and engineering is on the rise. This emerging field of AI technology has existed for some time but is now becoming mainstream, offering new career paths such as prompt engineering. Moreover, it also offers well-paying jobs and flexible work options.

Also Read: The ChatGPT Revolution in Today’s Job Market: Challenges and Opportunities

What is Prompt Engineering?

Prompt engineering is the process of designing and crafting prompts for AI chatbots and generative services. It involves interacting with AI systems like Google’s Bard or OpenAI’s ChatGPT, guiding them to respond in specific ways and avoiding undesirable responses, such as embarrassing statements or revealing trade secrets. Furthermore, this critical job has gained significance with the widespread availability of text-generating bots to the public.

Skills and Day-to-Day Life

A prompt engineer needs to have basic coding skills and a deep understanding of AI systems. According to Dataconomy, their day-to-day tasks may include testing the AI’s logical reasoning capabilities by asking it to “think step by step” or continuously tweaking a prompt to generate the best response.

For instance, Sam Goodside has shared his experiences on Twitter about working with AI systems to improve their responses. In one example, Sam Goodside asked a chatbot about the NFL team that won the Super Bowl in the year Justin Bieber was born. Through step-by-step logical deductions, he guided the chatbot from an incorrect answer to the correct one. Sam Goodside has also experimented with getting AI to go off-script, helping to constrain its behavior.

Also Read: The Future of AI with ChatGPT Plugins

The Growing Demand

Companies are increasingly hiring AI prompt engineers to build technologies and solutions around ChatGPT and other generative services. Remote work options and eligibility for candidates with just two years of experience are also available. Bloomberg reports that salaries for these roles can range from $175,000 to $335,000.

OpenAI CEO Sam Altman highlighted the importance of prompt engineering in a tweet. In his tweet, he stated, ” writing a great prompt for a chatbot persona is an amazingly high-leverage skill and an early example of programming in a little bit of natural language.”

The Future of Prompt Engineering

With the rise of AI chatbots in the market, the demand for prompt engineers is only going to increase. This new career path offers a lucrative opportunity for professionals interested in shaping the future of AI technology. The average salary of a prompt engineer is competitive. There is a high demand for these professionals in industries like customer service, healthcare, and finance.

Also Read: Your Clone Will Work for You With Aphid’s aClones

Our Say

Prompt engineering is an exciting and growing career path in the AI industry. It offers well-paying jobs with the potential for remote work. As more companies adopt AI chatbots, the demand for prompt engineers will continue to rise. Additionally, professionals who possess the skills to work with generative AI systems and guide their responses can find a fulfilling career in this burgeoning field.

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