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Major Advancements in Data Science Realm

By CIOReview | Monday, January 28, 2019

Data Science is an umbrella term which consists of deep learning,  AI, and other technologies. It is a comprehensive combination of data inference, algorithm computation, analysis and technology to solve multifaceted business problems. The applications and uses of data sciences are increasing with its ever-growing popularity.

•    Regulatory Compliance

With the increase in the amount of data that is generated by IoT, the issue of data security will gain more prominence; more data regulatory schemes will come up in 2019. More regulatory activities must be introduced as they can profoundly impact future predictive models and different analytics exercises. The increase in cyber attacks is mandating the need for a data protection scheme as these high profile data breaches are exposing the inadequacy of various organizations.

•    AI and Intelligent Applications

The hype around AI is going to be on another level in recent times. Intelligent applications will be quickly developed using AI, machine learning and other technologies. Automated data science will assist in transforming data science into better data management. Integrating AI will enhance decision-making and improve the overall business as all the new applications will incorporate some form of AI in them to improve the functioning. In this way, the count of intelligent apps will rise significantly.

•    Real-time Innovations

Digital representations of the real-world objects powered by AI capabilities will become widespread. These innovations will be used to simplify living and solving real-life business problems. The pace of real-time changes is accelerating with advanced technologies like AR and VR. Human expectations from these advanced innovations will undoubtedly rise.

•    Edge Computing

As IoT is growing, edge computing is also becoming popular. With multiple devices and sensors collecting data for analysis, businesses are flourishing like never before. Edge computing will rise to maintain proximity with these sources of information. Moreover, combining edge computing and cloud technology will provide a coordinated structure that simulates a paradigm shift of the service-oriented model.

•    Blockchain

The dominant technology underlies various cryptocurrencies as it is a highly secured shared ledger and has many applications. Blockchain can have far-reaching implications concerning data security; as a result, the chances are high that more and more businesses will incorporate blockchain technology in this year as it can maintain a record of a large number of individual transactions.