Machine Learning is an amazing technology, but how are you supposed to earn a living from it? From startups, to competitions, to writing books — there is money to be made in this field. Billions of dollars are being invested into the AI ecosystem. An important question to ask is: “Who is currently making money in AI?”
Well, at the heart of the AI ecosystem, is the data itself. Without data, there is no AI. It needs data to learn from and currently the vast majority of the world’s data is owned by just a few corporations. On top of that, comes the base layer of AI: Chips. These chips are what enable AI systems to actually perform the processing necessary. So far, NVIDIA has been the biggest winner in this space. Just a quick glance at their stock price over the past few years, shows how influential their GPU chips have been in the industry. Even though they were designed for rendering graphics, it turns out that they’re perfect for the matrix operations that a lot of machine learning applications require.
But it’s not just Nvidia. IBM, Intel, Google and now a few Chinese companies are designing their own AI chips as well. Built on top of these chips are the platform and infrastructure of AI — that is where does the AI processing and storage take place.
There’s fierce competition amongst companies, like Amazon and Microsoft, to provide a complete cloud solution for developers to run AI applications. The cost of maintaining these massive global data centers is something very few can afford. On top of that, are the actual models and algorithms of AI.
Google’s TensorFlow framework is still the most popular in the field- and it’s free. The reason being, once a company starts using it — they’ll likely need a lot of computing power and who better suited to offer that than Google? Since Google Cloud is optimized for TensorFlow! Once a company becomes reliant on their software, they will likely be a returning customer for years. But that’s not stopping the other giants from releasing their own frameworks as well.
Then we have the enterprise solutions built on all of this technology. Again, dominated by giants like Salesforce, Oracle (which is somehow still alive), and SAP. Consumer facing solutions are being offered by corporations that have massive budgets and teams to execute on innovative ideas.
At the very top are entire countries, like China, the UK, Germany, France, and Japan, which are leading in terms of investment into their respective AI ecosystems to foster economic growth.
So, where do you fit into all of this? At a glance it might not seem like there’s room to make money in this space with so many large entities with massive budgets. But there most definitely is.
Watch below to hear me break down 7 different ways you can make money with machine learning: