Key highlights of PWC survey report: 2021 AI Predictions: No uncertainty here
This trend is crystal clear: US companies are ramping up their AI investments. Fifty-two percent of our survey respondents have accelerated their AI approach in the wake of the COVID-19 crisis. The results will be felt for years to come. These “accelerating” companies cite their top changes as new use cases for AI (40%) and increased AI investments (also 40%). Of all the participants in our survey, 86% say that AI will be a “mainstream technology” at their company in 2021.
AI enterprise-wide are more optimistic about growth despite COVID-19 as 25% expect to increase revenue, compared with 18% for all companies.
The future payoff is even greater and could give early adopters an edge that competitors may never be able to overtake. AI leads to better products, increased productivity and superior customer experiences.
PWC report suggests that to maximize AI investments in 2021 the Organisations need to build virtuous cycles for data and talent, understand the costs and pick the right operating model.
Some trends of Global AI Talent reports for 2019and 2020 as published by AIM
The US tops the list in terms of the number of PhDs in AI or the most AI talent by a huge margin, followed by China and the United Kingdom.
US is at top in terms of talent attraction. Israel, India, and Singapore are the major countries in this bracket with a higher outflow.
The US, Netherlands, Germany, and France are top three in retaining their talent and are able to invite even more talent.
Top three countries that are not able to invite more talent but have better retention rates are Japan, Belgium, and Russia
Canada, China, and the UK are top three countries that attract talents but fall behind in retention metrics
Top trends in Big Data Analytics that will dominate in 2021 as per analyticsinsight
The Industry is worth US$189 Billion, which is an expansion of US$20 Billion more than 2018, and is forecast to reach US$247 Billion by 2022.
Some of the top trends in Big data analytics will be More emphasis on Actionable Data:, Data will become more Accessible, Big Data in Climate Change may become more mainstream, Database as a Service will become more prominent, Increased use of Continuous Intelligence, Cleaner Data through AI and more usage of Natural Language Processing:
Top five Data Trends and Predictions for 2021 as per analyticsinsight
Some of the data trends and predictions for 2021 as per analyticsinsight include Future Predictions with Data Analytics through real time analytics, Demand of more Databases likely to grow by 75%,Focus on Knowledge Graphs will bridge the gap between human and machine, Augmented Analytics to bring Data Fluency and will be the top driver for business intelligence as per a report by Gartner too, Data Visualisation will become more Mainstream
Top Data Science & AI Trends to watch out for in 2021 as per AIM
Cloud will back analytics deployments, Automation and Intelligent machines will drive critical roles, NLP models will be bigger than ever and power human-machine conversations, Emerging Tech will fill essential gaps across non-traditional domains, AI in Cybersecurity will address major security loopholes, Businesses will see real-time Actionable data consumption, Customers will be the priority, Federated Learning & Counterfactuals will be the game changer, AIops, MLops & ITops will streamline processes and Policy & Regulatory interventions will define production of ML models