The Future of Data – 4 Trends to Prepare You for the Future
Data is a fascinating field to explore. Every person and business that is connected to a computer system today is producing data, and this data is used across the world to help businesses and humanity to develop.
A quick way to demonstrate just how exponentially our data output has increased is to consider that only six years ago, in May 2012, we uploaded roughly 72 hours of video to YouTube every minute. By 2018, this had shot up to 400 hours every minute.
More than half of the planets 7 billion inhabitants now have access to connected devices, and whenever we search online, it goes through a search engine. That data is captured and goes to Uncle Google, or others, to help them learn more and more about us humans. Google, the apparent dominator amongst the search engines, processes more than 40,000 searches every second – 3.5 billion searches per day. Then another 1.5 billion daily searches go through the others.
To understand where the new jobs will lie, and which new skills will be needed, let’s take a deep dive into the data trends of tomorrow.
Right now, we have about 7 billion connected IoT devices globally, and this number is predicted to increase to 21.5 billion in just seven years. IoT devices capture and share vast amounts of data, and as their technology improves the type of data they capture and deliver to their human users will be richer and more diverse.
AI and machine learning are sources that can, do, and will, benefit significantly from the massive amounts of new data coming out every second. AI and machine learning are what make data useful, and the people who understand these systems — how they work, how to program them, how to teach them — will be the highly desired candidates of the immediate future.
AI for Everyone
As AI technology advances, it is predicted that it will be more widely leveraged in the small business sector to leverage more advanced analytics. This prediction would see more businesses popping up to cater to these SME targeted AI tools – thus more jobs in this space.
Data as Currency
If everyone captures data and data is valuable, it’s no wonder it is already and will continue to be captured for economic gain. What’s new is that this is likely to become common not only amongst large organisations like Facebook packaging it for advertisers, but also small organisations that will adapt their business model to capture information and leverage it to improve their offering based on what their data tells them. This will lead to more data related jobs in smaller operations.
More data means increased precision and accuracy for our machine learning models and wider opportunities for broader data applications. With data becoming such an impactful part of our lives, every industry and almost every piece of software will require the expertise of a data professional to ensure it works to full efficiency.