The time is ripe for any data science professional who wants to be part of the ongoing transformation in the global technology market. Within the next 2-3 years, the data science and big data intelligence market is expected to employ 1 million additional people, and bring home 100 billion dollars to the companies and startups. In this fast-changing scenario, it is important that you keep an eye on the B2B technology space that has slowly become the highest fundraiser and investor magnet destination, attracting PPP models and government-startup alliances, unlike anything we have known in the past.
In this article, I have pointed out the most tangible technology destinations, or you can call them industry sectors, that would employ the highest numbers of analysts and AI engineers from the data science institutes.
Agritech solutions integrate with the entire supply chain of the farmer’s produce and income.
Agriculture technology also called Agri Tech or Agro Tech in various industry parlance is a key trendsetter in the data science economy. In 2018-2019, Agritech garnered more than $250 Billion in funding in Asia. In a heavily agriculture-based first economy like India, Agritech is a very important specialization for data science institute Bangalore to focus on. Nearly 50% of the Indian population is directly or indirectly linked to agro-industries. For a country that receives the world’s highest rainfall per acre, yet hardly manages to retain any of the rainwater harvesting or groundwater management, Agritech using drones, geo-spatial data, soil moisture analytics, and farming tool automation are keys to close the glaring gap between demand and supply.
With new banking and financing solutions available for farmers, Agritech is helping them build a fully integrated supply chain, without worrying about loans. Tech-enabled farming not only enhances crop production per hectare of cultivable land, but also shortens the farm to market time, optimizes inventory, and reduces food wastage.
Ask any experienced data science expert about the role of data science in financial services, you are likely to hear tons of anecdotes and startup stories that inspire new professionals to join the group of admirers in fintech. What began as a simple experiment to automate front office and middle office management in the banks and insurance companies have now become a full fledged operation across the banking and financial services industry.
In the banking industry, data science professionals are analyzing billions of touchpoints and customer profiles to track trends, build new Customer Relationship Management systems, ERPs, video analytics, and mobile applications that bring banking and currency transactions to your mobile screen.
The fate of data science in fintech is unpredictable and that’s what makes the domain so heavily motivated towards keeping innovation at the center of this “flywheel” economy. From managing relations with customers using AI and intelligent virtual assistants, to meeting tight banking norms set by the regulatory bodies, to save the companies from bad loans and defaulters, the Indian Fintech journey is totally dependent on how well the hiring market supports the banking efforts.
Education or EDUTECH
IoT, AI, 3D Printing, and AR VR are opening up a whole new world of schooling principles that render physical classroom experiences absolutely impractical in the current pandemic situation.
Knowing the trends in the US and UK and having consulted AI teams in the education technology market, I can tell that the trend is fast catching up in India too. K12 to professional certification course providers are all designing their services on internet platforms, stacking up their inventories with next gen tools like 3D Printers, laser cutters, and robotics that assist professors in their classroom teachings.
But that was before COVID-19 struck the growth for Edutech focused on classroom experiences.
Things have changed in the last 8 months or so…
Online education companies are transforming the way students are connecting with their learning curriculum via internet services. The current online education sector is a juggernaut, even as trends like the Internet of Things, AI-based tutoring, on-demand video tools, AR VR and immersive content management, and blockchain techniques allow both administrators and students to get as close as possible to the current demands from the curriculum.
During the COVID-19 crisis, we witnessed how online education companies started to provide additional training and development support to professionals who lost their jobs, or for those who wished to upgrade their data science skills.
For data science professionals, your world has changed so much; you need to speed up.