By Arpit GautamVarious companies are undergoing digital transformation owing to the emergence of innovative technologies like Artificial Intelligence, Machine Learning, Data Science & Analytics. So, what are the prominent Industry Prediction for these technologies in the year 2021? Read on to find out!
Industry Prediction In 2021 – AI/ML, Analytics & Data Science
Here are the leading industry predictions for Artificial Intelligence, Machine Learning, Analytics & Data Science:
Same Platforms will provide Analytics & Ai-based Services
In the past few years, we have seen major innovations in Ai & Analytics services. However, most of these services were provided by different teams & platforms. However, that will change in 2021. Why?
Due to technological advancements, many platforms are converging. In addition to that, most AI teams are increasingly focusing on the Algorithmic side. But that’s not all! Analytics & Ai platforms are also merging to provide a holistic software infrastructure & experience when it comes to using cases for Analytics & Ai.
The Frameworks of Machine Learning Will Converge in 2021
Many leading companies & budding startups are put in enormous efforts to operationalize Machine Learning.
Well-known frameworks like PyTorch&Tensorflow are currently being leveraged for model training. Apart from that, there are other frameworks such as:
- Presto – Interactive Queries
- Apache Spark – For Data Transformation Jobs
- Caffe –For Industry Deployment & Research Experiments
- Azure ML Studio – Seamlessly Create & Train Models
- Apache Singa – Train Large Deep Learning Models for Huge Datasets
These frameworks do serve a similar purpose but various platforms provide a set of services that are not offered by other platforms. This is going to change in 2021 as more platforms emerge to offer a broader training space for models.
Increased Focus on Upskilling for Employees
Most companies offer training & upskilling programs to employees to unlock their potential. However, with the advent of digital transformation & data science, companies are being nudged to change the way upskilling is done.
Many organizations are now preparing upskilling programs that will help employees/managers/supervisors to apply their knowledge in real-time. Ex: Hackathon
Apart from these, there are many other ways in which upskilling can be done on a real-time basis. Companies are creating training programs that require employees to leverage real data to solve real problems. This will result in the creation of real-time solutions that boast immense business value.
On the other hand, Data Science is rapidly evolving. This is enabling people to learn on the job or at home. Employees get to learn about new tools & technologies which can then be leveraged to fill in the requirement of people with less analytical skills.
The Analytic Divide
Due to the ongoing pandemic, many organizations were forced to cut down on investments, let go of employees & eliminate redundant business processes.
While many organizations ensured to invest in analytics, many others chose to believe analytics can be put on the backburner. However, those who chose to keep the analytics department running witnessed huge profits & streamlined business processes. On the other hand, many companies had to face tough times as well as losses since they chose not to go the analytics way.
This divide in analytics will widen in 2021 as companies have to decide on whether they want to leverage analytics or not.
Analytics will Simplify the Problem-Solving Process
Many small & large organizations are already leveraging digital transformation. Additionally, they are democratizing data across various departments & business processes. This will enable employees to get real-time insights into various business processes.
The result – Citizen Data Scientists & Data Gurus who boast of immense domain knowledge will partner to simplify & improve the problem-solving processes. Pretty cool, isn’t it?
The Proliferation of AI/ML& its benefits for the end-user
Artificial Intelligence & Machine Learning are regarded as the next big thing. However, the end-user who benefits from these technologies doesn’t have much information about how these technologies actually work. But that is going to change in 2021 with the advancements in augmented technology. These innovations will help the end-user to understand various benefits of Machine Learning &Artificial Intelligence in 2021.
More Impetus on Data Governance & Privacy
Data Privacy & Governance have been hot topics for close to a year now. You might have seen various Governments stepping up their efforts to improve the policies associated with Data Safety. Additionally, owners of top tech companies have been making various crucial changes to ensure that Data is safeguarded. This trend will likely increase in 2021 as customers are made aware of the importance of Data Security.
These are some significant Industry Prediction of 2021 for AI, Analytics, Data Science& Machine Learning. ARSR holds expertise in these emerging technologies & offers various customized services to budding startups & large enterprises.
