HOW DOES DATA SCIENCE HOLD THE FUTURE? TOP 6 INDUSTRY TRENDS 2023 & BEYOND
Living in an age that is technically powered is a blessing in disguise. You may end up losing the count of benefits that we are showered with; when we talk of technology in our daily life. Leveling up the luxury experience of chauffeur-driven cars to automated driver-less vehicles is a huge invention, that was once a dream. Healthcare regimes going virtual, with online computation and examination of the patient, with the medical experts diagnosing via technically-intelligent apps. A huge leap in high-tech engineering could be experienced in the way we interact with our gadgets these days. Smartphones and wearable smart gadgets such as smartwatches and fitness bands are raising the innovation bar with every newer model in the market space. Not only that, with the world economy hit by the deadly pandemic recently, has pushed the majority of the global population to switch to online or virtual ways of shopping and interactions.
Recent extracts from the statistics reveal that the market for data science platforms is estimated to touch USD 322.9 billion mark by 2026. This showcases the increasing adoption of cloud solutions, the overwhelming application of data science platforms in a variety of industries, and the surging need to extract detailed business insights from humungous data to gain that competitive streak in the marketplace. Looking at such impressive outcomes and promising forecasts, many will question,
“Will automation kill data science jobs available in the future?”
Rather, on the contrary, process automation will act as a driving force to boost data science tasks, making them more efficient. Instead, there are many technological advancements brewing in the pipeline for the future. The future is an amalgamation of human and automation efforts, that will make the processes smarter. Certified data science specialists are the backbone for a stronger business marketplace as they are key generators of business insights. With such high stakes leveraged on the data science industry, it is far from being called oversaturated by the ones who propose it in disbelief. Another important revelation from the US Bureau of Labor Statistics states that the jobs requiring data science skills as a prerequisite is expected to grow by 27.9% by the year 2026. The field of data science and computer information research is predicted to develop at a CAGR of 22% from 2020-2030.
The data science industry never fails to surprise with its ever-new inventions in diversified sectors of the world economy. As Artificial Intelligence and its associated branches promise fulfilling times ahead, expert data science engineers, technicians, developers, and other professionals with industry-specific data science skills are sure to enjoy a spike in demand in the future. Let us delve into dramatic yet substantial trends that the data science industry is all set to feature in the year 2023 and beyond:
- AI and ML taking the biggest chunk in the future job scenario
According to recent statistics, the year 2022 is already enjoying a market size of AI-ML job opportunities at around 2.3 million across the globe. Robotics, quantum computing, and the automotive industry are the future of technology, that is purely based on AI-ML business processes.
- Deepfake Autofiction and audio-video becoming a crude reality
With technological advancements comes the weed in the industry, that is Deepfake. It has already impacted the economy by manipulating or misrepresenting big names of diversified industries. This showcases a clear trend of this technology being used maliciously in the future as well, as it garners quick attention from the viewers.
- Python reigning the programming languages chart
With a lot of free data science libraries on offer, Python is stipulated to enjoy the widest share as it is used in developing blockchain applications, that are a hot-selling property in striking the world economy.
- Surge in Edge-to-Edge AI solutions
Automating key data management tasks, sifting and cleaning large data sets and building ML models are going to be commonplace scenarios in the future. Deep learning insights will become pivotal in guiding business decisions.
- Amplified hike in data science professionals’ jobs
Data analysts and other key data science career roles have shot through the roof over the last few years and the trend is sure to continue in times ahead as well.
- Consumer data privacy becoming the norm
With large numbers i.e. humungous data that every company is computed to draw in the future, consumers will become more aware of their data, and companies will be pressed to the wall to make data privacy their top priority, to retain consumers for the longest of the term.
Reaching the length and breadth of the ever-evolving data science industry, certified data science specialist is deemed to power themselves with only the best data science certifications in the world, to rope in the highest return for their business organization. AI-human collab, real-time automation, and databases that optimize big data are the key forerunners of future trends. Being one of the demanding industries of recent times, data sciences is sure to expand in the coming years, as digitization and the virtual world of business processes showcase a steeply rising trend and take the forefront.
