Key Events & Reports of the Year 2023 – Data Analytics, AI & Data Science world
- The top Data Science and AI Trends for 2023 trends as per the Annual Data Science and AI trends report by Analytics India Magazine are: 1) Data Privacy by design/legal framework will gain prominence 2) Big IT firms will move towards automating processes internally 3) Role of Chief Data Officers will be more encompassing and they will have to exhibit a more synergetic role aligned to business strategy and executive management 4) Enterprises will focus on the optimisation of cloud computing capabilities and multi-cloud strategy 5) All organisations will try to achieve a single source of truth across functions through data governance or democratisation 6) Data scientists’ focus will shift towards the software side of the tech stack to improve the processing time of training models 7) Citizen data scientists to grow in the backdrop of the rising popularity of no- code, low-code platforms 8) Companies to adopt Data Fabrics to integrate enterprise applications and data sources into the cloud 9) Generative AI will become more powerful and accessible/mainstream for SaaS platforms and product companies 10) Recession will significantly impact the hiring or letting go of data professionals
- The top ten AI trends for 2023 which will redefine technology in the year 2023 as per Analytics Insight publication are1) Popularity of Predictive Analysis, 2) The pace through which Hyperautomation is growing, 3) AI and Cybersecurity, 4) Augmented Process and AI, 5) The Rising Popularity of AIOps,6) Machine learning and Automation (AutoML), 7) Expansion of Natural Language Processing, 8) Introduction of Virtual Agents, 9) Quantum Artificial Intelligence and 10) Edge Artificial Intelligence
- The Top 10 Strategic Technology Trends for 2023 as per Gartner are Digital Immune System, Applied Observability, AI Trust, Risk and Security Management (AI TRISM), Industry Cloud Platforms, Platform Engineering, Wireless-Value Realization, Superapps, Adaptive AI, Metaverse and Sustainable Technology.
Best of G-Square’s Knowledge Series & Experiential Learning articles of Year 2023
- Complex Reporting and Dashboard creation in BI Tools
Business intelligence (BI) is an essential tool for any organization looking to gain a competitive edge. With our BI complex reporting solution, you can gain valuable insights into your sales performance, customer behavior, and market trends.
Best of G-Square’s Knowledge Series & Experiential Learning articles of Year 2022
- Predicting Affluence using Proprator
Private sector banks who have a strong customer base in retail, corporate and NR space need to assess their customers’ income levels which will help the companies in targeting specific customers and create customer centric campaigns.
Key Events & Reports of the Year 2022 – Data Analytics, AI & Fintech world
- The analytics industry recorded a substantial increase of 34.5% on a year-on-year basis in 2022, with the market value reaching USD 61.1 billion as per a report titled Analytics India Industry Study 2022 done by Analytics India Magazine (AIM) earlier this year .
Loss Given Default (LGD) Modelling for Banks
To identify the estimated potential credit losses, we calculate a loan’s projected profitability. Under IFRS 9, banks are required to recognize credit losses at all times based on reasonable information, considering past, current, and future events.… Continue reading
- As per the report by Gartner, their analysts estimate that by 2025, more than 50% of enterprise-critical data will be created and processed outside the data centre or cloud.
- According to research and markets “Cloud Infrastructure Market in India 2021” report, the Indian Cloud Infrastructure Market was valued at INR 301.40 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 29 per cent during the 2021 – 2025 period to reach INR 1,169.23 billion by 2025.
Geolocation Analytics for Banks – Location based analytics
In every aspect of moving around the nooks & corner of any country, maps play an important part for any individual or any organization. The usage of location maps is across transportation – From B2C to B2B i.e.… Continue reading
- According to India Brand Equity Foundation, the Indian Data Analytics industry is expected to hit the $118.7 billion mark by 2026.
- As per IBEF reports, the Indian Data Analytics market is anticipated to play an integral role in driving the future of the fourth phase of industrialization.
- As per the report by Economic Times by 2025, the demand for expertise in advanced technologies like AI, robots, and data science will be 20 times larger than the supply.
- Global IT research firm Gartner forecasts the AI and data science platform market is to grow to over $10 billion by 2025 at a 21.6% compounded annual growth rate.
I. LOS, LMS & need of BI Tools:
The most often used systems in the financial world for Banks, NBFCs & Credit Fintech for the lending side are Loan Origination System (LOS)and Loan Management System (LMS). Without these the loans handling process is not possible for most of these organizations.… Continue reading
In the segment where the clients deal with Non resident Indian (NRI) and Indian population who have needs of remittance to India and from India to overseas, there is a huge need to track the forex prices on a real time basis.… Continue reading
- Data and analytics have entered the era of the cloud with two-thirds of analytics for both development and production expected to be performed in the cloud by 2023, according to a Gartner report.
- As per the research by MarketsandMarkets predicts that graph database software sales will grow from $1.9 billion in 2021 to $5.1 billion by 2026.