About Artificial Intelligence & Data Science

Data Science and Artificial Intelligence, are the two most important technologies in the world today. While Data Science makes use of Artificial Intelligence in its operations, it does not completely represent AI.

Data Science is the current reigning technology that has conquered industries around the world. It has brought about a fourth industrial revolution in the world today. This a result of the contribution by the massive explosion in data and the growing need of the industries to rely on data to create better products. We have become a part of a data-driven society. Data has become a dire need for industries that need data to make careful decisions.

Artificial Intelligence is the intelligence that is possessed by the machines. It is modeled after the natural intelligence that is possessed by animals and humans. Artificial Intelligence makes the use of algorithms to perform autonomous actions. These autonomous actions are similar to the ones performed in the past which were successful.

Recently, many major technology giants like Google, Amazon, and Facebook are leveraging Artificial Intelligence to develop autonomous systems.

According to GlobeNewswire, the largest newswire distribution networks worldwide, the global artificial intelligence (AI) market is anticipated to grow from USD 20.67 billion in 2018 to USD 202.57 billion by 2026. While the data science global market anticipates reaching more than USD 178 billion by 2025. Both data science and AI have been touted to be remarkable careers in the tech industry.

Data Science is predicted to grow over the next decade. It is a staggering fact that over 90% of the data in the world was generated in just 2 years. It is unimaginable to realize the amount of data that will be generated in the next decade. The demand for data scientists will rise by 28% by 2021 alone. More and more industries are becoming data hungry and they need data to hold specialized data scientists who can craft products for the customers. About 11.5 Million jobs will be created by 2026 according to U.S. Bureau of Labor Statistics.

The average data scientist salary is $100,560, according to the U.S. Bureau of Labor Statistics. The driving factor behind high data science salaries is that organizations are realizing the power of big data and want to use it to drive smart business decisions. And because the supply of data professionals hasn’t yet caught up with demand, starting salaries for these positions remain high, especially for those who have an degree in data science or a related field.