what are the mathematics that we need to cover when transition into ML and Ai?
It really depends on your goals. if you only want to use these approaches in applications, Basic differential calculus, and basic linear algebra methods are enough. However, To become skilled at Machine Learning and Artificial Intelligence, you need to know:

understanding Linear algebra and basis differential calculus

Coordinate transformation, and nonlinear transformations (key ideas in ML/AI),

Linear and higherorder Regression (make predictions based on existing data sets),

Logistic Regression (classify a piece of data as one thing or another),

Discrete Maths

Probability Theory
What would be the best sources where you suggest learning this? Taking courses online, books or applying for a math (or similar) degree?
I think the best choice is online courses. You can find useful courses on Coursera or other websites. However, if you are eager to master deep learning and its relevant math, taking deep learning specialization is an appropriate choice.
Hi @Nidula_Rawindith !
Great question!
There’s a book called Mathematics For Machine Learning. I think you might be interested in. It’s open to the public on Github.