Robotic Process Automation (RPA): Robotic Process Automation is a technology that configures computer software to automate business processes by using the user interface to automatically enter data like human beings. These bots' tasks include data manipulation, high-volume data entry, and communication with other digital systems. This allows processing of information 24/7 without manual intervention.
According to Forrester Research, RPA software will result in loss of approximately 230 million jobs. That is about 9% of the world's human workforce. McKinsey's findings explain that around 5% of jobs in the world can be fully automated. 60% can be automated partially.
An RPA developer can earn over $150,000 per year with 5 years’ experience. The most common tool for Robotic Process Automation using minimal coding is UiPath.
Algorithmic Trading
Algorithmic trading is the process that uses computer codes and charts analysis to enter and exit the stock trades with parameters such as price and volume movements. If the market conditions meet the predetermined criteria, the trading algorithms shall execute purchase or sale orders on your behalf.
After several decades, exchanges improved their ability to accept electronic trading, and by 2009, among all the trades in the U.S., 60% were executed by computers. Most of this algorithmic trading is being done using Financial Information Exchange (FIX) protocol.
The average salary for an Algorithmic Trading Developer with 5 years’ experience is $150,000 per year. The most common languages used for Algorithmic Trading are Java and Python.
Machine Learning
Machine learning involves using artificial intelligence (AI) that gives the system the ability to learn and adapt to new data automatically. It focuses on developing computer programs that access data and use it to learn for themselves by building a complex algorithm into a computer. This allows the computer to identify data and make predictions about it.
Machine learning is useful as it can analyze massive amounts of data and enable the transmission of vast amounts of information that is consistently and readily available to assist decision-making. There are several areas like investing, detecting fraud, advertising, news, detecting news trends in the market, where you can apply machine learning.
The average salary for a Machine Learning Developer with 5 years’ experience is $200,000 per year. The most common languages used for Machine Learning are Python and Scala.
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