6 Top Data Science Predictions for 2023

The discipline of data science has been established since the advent of big data more than a decade ago.

As the universe grows, so does Big Data. At the same time, the importance of data scientists within organizations has increased.

Here are some of the top data science predictions for 2023:

1. AI Boom Fuels Data Science Growth

Jens Graupmann, SVP Product and Innovation exasolexpects investment in artificial intelligence (AI) to grow from $122 billion in 2022 to more than $300 billion in 2026.

Also Infosys estimates that companies can realize over $460 billion in incremental profits by being able to optimize AI and data science practices.

“Companies should prepare for increased scrutiny of the return on their AI investments in 2023,” Graupman said.

“The successful use of AI/ML depends on the relationship between data scientists and data engineers. Harmonious collaboration is essential to ensure that, for example, ML scoring models created by data scientists are properly integrated into production systems and processes by data engineers.”

See more: 5 top artificial intelligence (AI) trends.

2. Machine learning growth remains strong

Machine learning (ML), as a sub-discipline within the broader categories of AI and data science, has been a rapidly growing area for several years.

Expect this trend to continue in 2023. Salaries keep rising and demand is unrelenting. But ML is not a one-size-fits-all offering.

“There are different types of ML, with classic ML often characterized by how an algorithm learns to be more accurate in its predictions,” said David Foote, Chief Analyst, Foote partner.

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“Machine learning has already seen many use cases, and their number will only increase. AI and ML jobs and skills, particularly deep learning, will remain attractive and support job creation and cash market value for skills for the foreseeable future.”

See more: 5 top machine learning (ML) trends.

3. More MLOps in Data Science

A recent survey proved that 65% of data scientists spend time on it Perform tasks that could have been done easily and in less time using machine learning tools.

While MLOps can be a valuable practice for organizations to implement, many in IT and data science are unaware of its benefits. Some of the benefits include improving turnaround time, reducing errors, and increasing data science productivity, according to Lucas Bonatto, Founder and CEO. elementoa platform that helps data scientists build a scalable software infrastructure.

Incorporating ML models into an organization can help it stay relevant and thrive in a technology- and information-centric world, Bonatto said.

More information: How to deal with machine learning’s MLOps tooling chaos

4. Data Science in Cloud Management

As the cloud grows, so does its complexity. Those who manage their clouds most efficiently are blessed with lower costs and higher productivity.

But the plethora of multicloud environments, coupled with vast amounts of cloud-based big data and a maze of applications competing for compute resources and data access, require better cloud management.

Those with large inventories of cloud data and applications are beginning to use data science to learn more about their cloud environments, how to run them better, and how to contain costs.

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“Enterprises need to start digging a little deeper into the key value they’re looking for and which cloud provider can best deliver it,” said Amit Rathi, VP of Engineering, Virtana.

“For some AI and ML capabilities, there may be a particular cloud that has a significant benefit, or for PaaS, there could be another cloud that offers a significant discount based on prior usage. In order for organizations to deliver the value needed to remain competitive, it is critical to have the right infrastructure and tools in place to effectively manage data and operations in a multicloud environment.”

See more: 5 top multicloud trends

5. The rise of bioinformatics

Data science has many different aspects. One of the most prominent use cases is bioinformatics, an interdisciplinary field that develops methods and software tools to better understand biological data, especially when the data sets are large and complex.

Bioinformatics combines a variety of disciplines – including biology, chemistry, physics, computer science, information technology, mathematics and statistics – for the analysis and interpretation of biological data, e.g. B. Genomics. For example, image and signal processing is used to extract results from large amounts of data used in sequencing and annotation of genomes and mutations. According to Foote Partners, it also plays a role in text mining of biological literature and in the development of biological and genetic ontologies to organize and query biological data.

Foote Partners regularly reviews pay rates and identifies the hottest skills and certifications in IT. In the latest report, data science in general and bioinformatics in particular rank among the most sought-after subjects in IT with the strongest growth in market value. The market value of bioinformatics as a skill increased by 18.8% in the last six months.

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“Analyzing biological data to derive meaningful information involves writing and running software programs that use graph theory algorithms, AI, soft computing, data mining, image processing, and computer simulation,” Foote said.

6. Neural radiation fields

When people think of data science, they might think of zeros and ones, charts, numbers, or text. But one of the biggest advances in data science and AI technology is in the realm of images and virtual reality (VR).

“Right now, a hot trend is neural radiation fields that can create a realistic 3D environment from 2D images,” said Ricardo Michel Reyes, co-founder and chief science officer. scholar.

Nvidia, the major graphics processing unit (GPU) company, created a metaverse from various images. This is thanks to its ability to process data quickly.

Reyes said an example of a practical application we should see in 2023 is realistic virtual stores. Imagine putting on a VR headset to enter a virtual furniture store where you can visually inspect the appearance, texture and size of a couch as if you were actually there.

“Based on that, my prediction for 2023 is that we’ll see this move into touch and even into sounds and smells,” Reyes said.

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