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Artificial Intelligence And Data Science: An Insight Into Progress, Prospects, Trends And The Future Of These Technologies

artificial intelligence and data science

Introduction 

Artificial intelligence and data science seem to be the most dependent lifelines of the new economy. The technologies of Artificial Intelligence and data science are pivotal for consumers as well as the companies. For the consumers, these technologies command the way the economy would be shaped in the future. For the companies, these technologies provide the road map in which the business should be driven in the time to come. Both the technologies aim to improve the communication and interaction between man and the machine.

As we continue to prioritize data science and artificial intelligence over other technologies, it is extremely important that we train and re-skill our manpower related to data science skills. Some of the important ways to achieve this objective include data science online courses, data science training and other types of data science workshops.

What are the most recent trends in artificial intelligence and data science?

The development in artificial intelligence and data science can be attributed to the high level of research that has been carried out in these domains. The most notable developments include hyper automation and natural language processing. The concepts of advanced analytics and the internet of things have further amplified the scope of data science and artificial intelligence. Human computer interaction and the development of fully autonomous systems is another feather in the cap of AI.

Pertinently, the trends in artificial intelligence and data science drive new technologies and smart ecosystems of hi-tech gadgets. An example of this can be seen in the form of smart cities where each component is connected to every other through a cloud environment. This has two important advantages. The first advantage is the functional dependence of one technology on the other. The second advantage is that the advancement in one technology continuously influences the development in other technologies as well. 

The road less traveled in AI and Data science 

As the dependency of the world on technology continues to increase, the applications of Artificial Intelligence and data science start to amplify. Furthermore, the application of data science and artificial intelligence in the fields of education, healthcare, retail, logistics, advertisement, real estate and finance continues to increase. In the field of healthcare, artificial intelligence plays a pivotal role in telemedicine, patient diagnostics and disease detection. Similarly, in the field of education, artificial intelligence and data science have made immersive learning possible with the introduction of new learning pedagogies that are influenced by augmented reality, virtual reality and merged reality.

The integration of technologies, products and services with artificial intelligence, machine learning and data science have made it possible to increase the return on investment and the yearly profits of IT companies. Not only does artificial intelligence promote efficiency, accuracy and efficacy in various business computations but it also allows corporations to analyse the performance of various departments. In this way there is a functional and interdependent relationship between artificial intelligence, data science and other prospective fields that are directly or indirectly dependent on technological resources.

Sparking a revolution in business domain 

In the present times, businesses are as much dependent on artificial Intelligence and data science as much they are dependent on other resources. It is difficult to analyse and imagine a sustained growth of a business in absence of technological resources. 

Needless to mention, Artificial Intelligence and data science provide a storehouse of various technological resources that help in driving data centric decisions. Such resources also help the companies to derive critical insights and ensure effective operations. They also pay the way for effective human machine interaction and lead to a seamless integration between different products and services. 

The design and development of new products also becomes possible with the aid and advice of data scientists and AI engineers. The resources that are made available by artificial intelligence as well as data science help in making the production process much more streamlined. Data science also helps during the digital marketing stage and the launching stage of products. This is by virtue of services like customer analytics, market analytics, product recommendation and brand positioning.

The increasing demand of data scientists and AI engineers 

The future prospects of data science and artificial intelligence are very bright given the rapid expansion that the juggernaut of technology is witnessing slowly. There is a high probability that the demand for data scientists and AI engineers will increase as businesses become more and more data centric than ever before. 

In addition to this, we are already under performing while providing data science skills to our workforce. Consequently, there is a mismatch between data scientists that are trained and those that are required by the market. One of the most important measures to fill this vacuum is to provide data science courses that are perfectly aligned to the type of skills that major corporations and multinational companies are looking for.

Why is AI and Data science in the limelight?

Data science has already been dubbed as the most sought after job of the 21st century. There are three important reasons for data science being the first preference among top professionals. 

  • Firstly, the lucrative prospects of this job are second to none. This means that data scientists are the highest paid professionals in major countries of Asia and Europe. 
  • Secondly, there is a high probability that most of the businesses would become technology oriented in the coming time. As such, they may even need to reskill their employees to cope up with the high degree of automation. 
  • Thirdly, as we slowly move into the sphere of industry 4.0, the future prospects of artificial intelligence and data science become much more bright than ever before. This not only motivates working professionals but also a large talent pool to take up the skills related to data science. 

All these three factors unanimously contribute to data science and artificial intelligence being in the constant limelight.

What more needs to be done?

While Artificial Intelligence and data science are already entering the untouched areas of application, there are some more measures that need to be taken to ensure a smooth transition of these technologies into prospective domains. We highlight three important measures that can be taken to give a new lease of life to the emerging technology. 

  • Firstly, sufficient technological advances need to be made in the infrastructure that is currently prevalent. This will allow the adoption of technologies like artificial intelligence in a hassle free manner. 
  • Secondly, the training of the workforce in artificial intelligence, machine learning and data science technology will prepare them for a technological revolution that has already kick started. 
  • Finally, a policy framework is needed so that the technology of Artificial Intelligence and data science can be implemented by businesses and organizations in a hassle free manner. 

The bottom line 

The limitation that we are currently seeing in the adoption of new technologies by businesses is related to the security aspects. It is highly likely that Artificial Intelligence and data science will reinforce the entire security mechanism and even provide an additional layer of security to secure critical and sensitive information. We conclude that Artificial Intelligence and data science are the cornerstones in our march towards a technologically sustainable future. So, the time is ripe to reap the full potential of these technologies at an earliest.

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