Both AI and ML have become considerably more sophisticated over the past decade. Whether it be autonomous vehicles or advanced chatbots, it is hard to ignore the enormous potential these systems have to change our everyday life.
However, whilst the demand for data scientists capable of developing these systems has grown, the supply remains the same. In fact, it’s commonly estimated there is at least a 50% gap between the supply and demand of data scientists. The International Data Corporation (IDC) forecasts that worldwide revenues for big data and business analytics will reach more than $210bn in 2020. Having penetrated the mainstream, data science/analytics is now a major priority for executives in top companies.
Brainpool was founded with the vision of bridging this gap, giving any business access to world-class data scientists, and guiding them throughout the process.
In order to truly understand the challenges facing our clients and businesses alike, we conducted some descriptive research. We asked almost 1000 professionals from a wide range of industries for their thoughts on various aspects of data science and its value. See some of the results below:
- 85% agreed that utilizing data was critical to maintaining a competitive advantage.
- 46% stated that, their company was unaware of what constitutes a good data scientist.
- 35% of participants agreed that their company is not making the most of its available data.
We further asked businesses how they currently use ML/AI areas and what you think are the current challenges and opportunities these areas offer:
‘The utilization of data by my organization could be improved in all areas. One of today’s core problems is the work time required for all the manual reporting – we need to automate processes.’
‘We believe technical skills will become increasingly important (e.g. machine learning and marketing automation analysts, data engineers and AI consultants).’
‘I believe that further training in Business Analytics and Financial Modeling can help my organization optimize its spending power in instances where it takes considerable capital order to bid and complete work.’
‘My business is pretty traditional in the healthcare area, but like most companies in the sector, is looking for better ways to leverage data and technology.’
‘Optimization directly influences my work and my teams. We could use some experts in this area to develop new strategy and software to optimize software testing.‘
Whilst some businesses are up to speed with data science and its applications, it’s clear there is still a large group whom recognizes its potential, but lack the knowledge and expertise to utilize it. Brainpool can provide these companies with access to world-class data scientists and assist them in deciding who to select and why. We manage the development and implementation of these systems, ensuring the product our clients receives is unique and effective.
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