Our lives get better as technology advances over time. Data science has developed over time and has influenced the development of technologies like deep learning, computer vision, and natural language processing. Technology development has spawned cutting-edge industries like data analytics, big data, machine learning, artificial intelligence (AI), etc.
Organizations have changed over time in an effort to increase productivity and profit. Businesses all around the globe desire to use data-driven models to simplify their operations and make better decisions based on data science.
Data acquisition and analysis become crucial as it affects the business, healthcare, agricultural, scientific, and technological worlds.
Artificial intelligence (AI) is expanding quickly, and in the near future, more industries will start using AI to accelerate digital transformation and satisfy customer expectations. When, for instance, AI is combined with commercial vehicles, in-car sensors, modern health monitors, and many other devices, it can simplify society’s work and improve the world.
Let us look at the top 10 trends in data science and artificial intelligence (AI) in 2020.
1. Automated Machine learning (AutoML)
AutoML is an exciting trend these days that involves building models and algorithms that drive the special democratization of data science. Automated machine learning (AutoML) is a technique of applying machine learning (ML) models to real-world situations through automation. AutoML automates the selection, construction, and parameterization of machine learning models in particular. Automated machine learning is more user-friendly than hand-coded methods and produces faster, more accurate results. Auto ML systems will allow non-experts to create and deploy models to get the work done.
AutoML is meant to complete monotonous jobs accurately and swiftly, allowing the workers to focus on more complicated or unique activities. Activities such as monitoring, analysis, and error identification are the route chores that can be completed faster with the help of AutoML. AutoML should be present to complement but not replace the work of employees and data scientists. AutoML is bound to become more popular as it is simple and easy to use.
2. Cloud-based AI and Data solutions
Organizations already produce a lot of data, so gathering, labeling, cleaning, organizing, formatting, and analyzing this enormous volume of data in one place is a task in and of itself. Many organizations are choosing cloud-based platforms as a solution to this issue. This involves providing a cloud computing database that will transform data science and AI industries moving forward. With the help of cloud computing, businesses can protect their data and manage and perform tasks better, which in turn increases the business’s efficiency and productivity.
3. Low-code No-code AI
Low-code and no-code AI will be able to automate manual coding processes to facilitate application development. This will also reduce manual coding to a minimum to deliver results quicker.
It will cost you a lot of money to hire experts, pay them thousands of dollars, and test the app with real users. Low-code and no-cod platforms will allow people with basic knowledge of computer science to design and build apps with the right resources. This will enable businesses and organizations to create and develop applications more quickly and at lower costs for users.
4. Increase usage of XOps.
Businesses in the coming years will most likely skip manual processes and adopt Extensive Operational Performance Services (XOps) to automate and reduce repeating actions. Businesses and organizations will adapt XOps to provide a sophisticated approach to data science. Selecting from a range of data analysis techniques and operations, such as MLOps, AIOps, DataOps, XOps, and others, will aid in accelerating development processes and enhancing efficiency.
5. Data driven Customer experience
Businesses and organizations analyze and process data in order to provide a good customer experience. The importance of a data-driven customer experience can be seen in how it directs an organization to prioritize its customers and offer them excellent customer service through intuitive user interfaces and digital interactions that make use of artificial intelligence (AI). This leads to business transactions being more enjoyable.
6. Rise of augmented data analytics
A type of data analytics known as augmented analytics uses AI, machine learning, and natural language processing to automate the analysis of large amounts of data. With the help of augmented analytics, the complex data that was handled by data scientists can now be automated to offer real-time insights.
Less time is spent by businesses processing data and getting insights from it. Additionally, the results are more accurate, which influences better choices.
By assisting with data preparation, processing, analytics, and visualization, AI and ML enable data scientists to examine data and provide detailed reports and forecasts. Data from both inside and outside the company can be merged through augmented analytics.
7. Automated Data cleaning
Massive amounts of unclean data are useless for analytics. This also includes duplicate data with no structure or format, inaccurate data, or redundant data. Data retrieval becomes slow when there is a lot of extraneous data, which directly costs businesses millions of dollars and hours of time. In order to improve data analytics and obtain more trustworthy insights from big data, many organizations and businesses are looking for solutions that can automate data cleansing and scrubbing.
8. All eyes on edge intelligence
Edge computing, also referred to as edge intelligence, describes data collection and processing that takes place close to the network. Industries globally are trying to incorporate edge intelligence into their business systems by using the internet of things (IoT) and data transmission services.
Instead of relying on a central location that is thousands of miles away, edge computing places processing and data storage closer to the devices that collect it. This is done to make sure that the real-time collected data does not suffer from latency issues that might degrade the performance of an application. Additionally, local processing lowers expenses by minimizing the volume of data that needs to be processed at a centralized or cloud-based location.
9. Use of Natural language processing
Natural language processing started as a subset of artificial intelligence. NLP is included in corporate operations for analyzing data and identifying patterns and trends. NLP is expected to be used to retrieve data from data repositories and will have access to high-quality data, resulting in high-quality insights.
10. Actionable data and insights
Big data and business processes are combined to create actionable data insights that assist businesses in making the best decisions possible. Even if you spend a lot of money on expensive data software, nothing will seem useful unless the data is assessed and useful insights are drawn. You can use these insights to better understand the current state of your company as well as market trends, challenges, opportunities, and so on.
With the aid of actionable data, you can decide better and act in your organization’s best interests. Understanding actionable data will help you to boost the overall efficiency of your organization by undoing the wrongs and organizing activities that will bring out the best in the teams.
The market’s available data technologies have increased the availability, usability, and accessibility of data for organizations of all types. Data analytics and AI are here to stay, and as time goes on, new trends will appear. It is therefore becoming important to stay updated about the new AI and Data science trends. Data science will continue to be prominent in the coming years, and we will see advancements and improvements. If anyone is interested in a career in data science, artificial intelligence engineering, or data analysis, now is the time to do so.