The year 2022 has seen significant progress in terms of the adoption and expansion of AI and data science. The year has been rightly called the year of Text-to-Anything, with some phenomenal artwork being generated by AI-based tools like Dalle-2, Imagen, Midjourney and StableDiffusion. Striding on, we expect generative AI to become more accessible and expand into newer horizons.
As governments and enterprises have increasingly moved towards digitisation with data driving their operations and decision-making, very often, questions cropped up about data privacy and security. 2022 saw some development around this front. One of the prominent is the Indian Government’s initial scrapping of the Data Protection Bill to replace it with a more comprehensive Digital Personal Data Protection Bill. With more regulations introduced, it is likely that future developments in data science and the AI field will be based on the framework surrounding data privacy and security.
With data security and privacy becoming a defining aspect in working with data, CDOs are expected to exhibit a more encompassing role to ensure such standards are adhered to and bring in newer means to balance organisational needs with regulations. Data has been driving industry 5.0. As the role of data assumes significance to derive optimal value, it would call for newer talent. Harnessing talent is time-consuming. Thus citizen data scientists are likely to play a crucial role in the days to come to meet industry demand.
The advancements made in the field of data science have necessitated data automation which has been making rounds for quite some time now. Industry experts believe that automation will penetrate further with big IT firms attempting to automate internal processes.
Finally, it is expected that the ongoing recession is likely to impact the data science and AI industry. The severity of this impact will unfold in the coming years. But industry experts have their opinions on it.
The annual data science and AI trends report by Analytics India Magazine aims to highlight the top trends that will define the industry next year. This report highlights trends for 2023.