With a significant increase in AI-driven applications over the past few months, Al has been a popular term recently. The advent of Al platforms like ChatGPT has only increased awareness of the technology’s achievements, and in 2023 it will continue to grow in importance. The management of data in the field of data science will likewise undergo significant development. The Data Protection Bill will be repealed and replaced by a more comprehensive Digital Personal Data Protection Bill in India.
Therefore, before 2023 gets underway, we quickly review the top Artificial Intelligence and Data Science trends that, according to a report from Analytics India Mag, would rule the entire year 2023.
1. The legal framework for data privacy will become more important
87 percent of data leaders believe that privacy will be the primary factor in future data-driven technological improvements.
2. Internal process automation using big data and IT
Leaders in the largest IT corporations anticipate that their organizations will begin to automate internal procedures.
3. Expansion of CDOs’ responsibilities
The CDOs will need to play a more synergistic role aligned with business strategy and top management, according to 81% of executives in the data ecosystem.
4. Businesses should concentrate on improving cloud computing.
Multi-cloud computing, data storage, and analysis will be the defining strategies for businesses in the future, according to 81% of industry experts.
5. Data governance and democratisation to be implemented by organisations.
A single source of truth, according to 79% of businesses, is essential to any data strategy.
6. Data scientists should concentrate on reducing training model processing times.
Seventy percent of data teams will concentrate more on the software-end of the tech stack to speed up processing due to the growing use of massive data sets and complex algorithms.
7. The number of citizen data scientists will increase as no-code and low-code platforms become more prominent.
According to 70% of respondents, the community of citizen data scientists will expand to address business-related problems.
8. Businesses will use Data Fabrics to connect cloud-based enterprise applications and data sources.
The role of data fabrics, according to 69 percent of data executives, will be crucial in managing the complexity brought on by the exponential expansion of big data.
9. To increase the capability and usability of Generative Al for SaaS platforms and product enterprises.
Generative Al will be one of the most popular Al approaches with newer applications outside text and image formats, predict 68 percent of industry experts.
10. The employment and firing of data experts will be greatly impacted by the recession.
Despite differences in view among senior executives, 68 percent of business leaders feel that the prolonged recession will have an impact on data professionals.