- What is Data Science
- what is AI
- Upcoming Data Science Trends
- Upcoming AI Trends
- How These Trends Affect Future Careers?
- Key takeaways
Data Science and Artificial Intelligence (AI) are buzzwords of the current era. They have been the voice and matter of all the latest technological advancements, and the future looks empty without these words. Data Science and AI are like non-identical twins – they fall under the same domain, are connected through technical pathways, and yet are different!
Data Science and AI have different meanings, purposes, and aims, which give them a whole new sense. Both the terms are inclusive in terms of understanding. One might argue that it is not enough to explain some things that are the pinnacle of human technological achievements. Yet, we need to follow multiple trails of technological advancements and get to know more about their latest trends.
Here is a glance at the definitions.
- What is Data Science?
Data Science is a process of extracting and reaping useful or profitable information from massive strings of data. It involves utilising algorithms, tools, applications and processes to develop methods that will help the process, store, record, and analyse clustered data.
- What is AI?
Artificial Intelligence (AI) is building super-smart machines capable of performing exercises that typically demand human intellect. AI is a discipline that employs Machine Learning, Deep Learning, and much more to produce an identical human response.
Upcoming Data Science Trends
- Decision Intelligence
Decision intelligence is a thing that larger organisations do by employing Machine Learning algorithms and AI to gain valuable insights into the data that will help them make smarter decisions. Data Science alongside Machine Learning could contribute to the “decision-making process.” There has been a 33% uptick in the use of Data Science to make decisions, and it is going to be a top trend in upcoming years.
- Data Stories
Data Stories simply means “neat visualisation of data.” Anyone would prefer a good data story over long-running sheets of cluttered data that make no sense. Data Stories is becoming a popular method to showcase data comprehension.
- Augmented Analytics
Augmented Analytics is an upscaled form of data analytics, where analytical exercises such as creation, analysis, development, and storing of data are fully automated using Machine Learning and AI. Augmented Analytics is supposed to capture an $18.4 billion market by the year 2023.
- Data Cloud Services
Managing Data can be such an arduous task. Corporations like Microsoft or Google have their warehouses to manage data, but what about smaller companies that have no access to such services? One solution to all these problems is “Cloud Services.”
Like SaaS (Software as a Service) – DaaS (Data as a Service) uses cloud computing to perform data analytics exercises utilising an internet connection. It is predicted that DaaS will be used by 90% of larger corporations to automate their data analytics services.
- X analytics
Companies today are capable of computing singular data that is in tabular format. However, Data today is also in the form of video, text, audio, etc. So companies need to learn how to compute this form of data too. So X analytics is nothing but – Video analytics, Text analytics or Audio Analytics, and much more. X analytics is so popular these days. Predictions indicate that 75% of Fortune 500 companies will use X analytics.
- Edge Computing
Data generation and consumption are usually stored or recorded in physical storage and cloud storage in our practical life. Almost nine out of ten times, transportation of data is challenging and often causes higher data latency. This is where the role of Edge Computing falls into! Edge Computing makes sure that data computation and storage centres are much closer to data generation and consumption where data transportation will be easy. This type of technology is going to swing upwards in upcoming years.
“Blockchain for Data” is going to be “the need” of the Data Science domain. Security for data is a pending and leading critical issue that needs to be resolved, quickly. Blockchain is one of the solutions that companies will opt for in the near future to secure their data. Hence, Blockchain is going to be a never-ending trend.
Upcoming AI Trends
- Robotic Process Automation
Robotic Process Automation or RPA involves automating arduous business tasks that will help organisations focus more on their clients and customers, giving much better work output. RPA solutions are trending due to their “ease of use” in something as easy as generating an automated mail response or for much-complicated systems. RPA will have much more significant value in upcoming years as AI will evolve.
- Conversational AI
AI-Chatbot is an excellent example of conversational AI. Natural Language Processing (NLP) and Machine Learning are adding much more glamour to conversational AI as it provides the much better feel of human interaction to customer services.
- Healthcare and AI
AI, alongside Big Data and Machine Learning, has given us valuable insights into the age of the COVID-19 pandemic. They have been helping various health sectors to create significant statistics with critical zones, patient history and much more.
AI gives an extra edge to the healthcare domain to leverage a large amount of data by analysing and predicting possible outcomes. Due to the increasing need for data management, AI is entering healthcare for the greater good.
- Ethical AI
Supervision and control of AI use are a must-do task for every organisation in the world. All rapidly moving technologies need to have specific guidance and management to fall into risky businesses. Implementation of AI responsibly or AI Ethics is something major corporations will commit to in the next few years.
- AI for Cybersecurity
Security for data is a matter of urgency at present and will be a top concern in the future. We see frequent malicious attacks on data, and we possess a much greater risk of being exposed to phishing and hacking attacks! AI frameworks will bring better solutions for Cybersecurity in the future.
- AI for IoT
IoT – Internet of Things and AI are closely tied together and used together for many unique possibilities in the ‘World of the Internet.’ AI is used for virtual power assistants currently, and in upcoming years it will even get better.
- Natural Language Processing
Natural Language Processing or NLP is a prime application of AI that is used in voice assistants like Alexa, Siri, and Google Assistant. NLP allows us to have “human-like interaction” with its consumers or customers. Assistants are very popular among the new generations, and changes in AI will bring revolution to NLPs.
How These Trends Affect Future Careers?
The latest trends provide an insight into how career streams are about to flourish, in which direction, and at what speed. Knowing the trends will help you tread your career towards a successful stream.
Data Science and AI are imperatives and inescapable in the upcoming future. These trends are just a window to a bigger picture, and one has to use this opportunity today to make the most of it for a lucrative future.