AI has been the buzzword lately, with the last few months seeing a major rise in Ai driven applications. The emergence of AI platforms such as ChatGPT have only drawn more attention to the advancements of AI and it will continue to gain more prominence in 2023. Data science will also see lots of development with regards to how the data is managed. India itself will see the scrappage of the Data Protection Bill to be replaced with a more comprehensive Digital Personal Data Protection Bill.
1. Data privacy by legal framework will gain importance
87 percent of data leaders feel that privacy will be the main consideration for the future of data driven advancements.
2. Big IT to automate processes internally
83 percent leaders in the big IT firms believe that their companies will start working towards automating processes internally.
3. Role of CDOs to get more encompassing
81 percent of leaders in the data ecosystem believe that the CDOs will need to exhibit a more synergetic role aligned to business strategy and executive management.
4. Enterprises to focus on the optimisation of cloud computing
81 percent of industry experts say that multi cloud will be the defining strategy for companies to compute, store, and analyse data going forward.
5. Organisations to apply data governance and democratisations.
79 percent of enterprises perceive a single source of truth to be fundamental to any data strategy.
6. Data scientists to focus to improve processing time of training models.
With increasing use of large data sets and complex algorithms, 70 percent data teams will focus more on the software-end of the tech stack to improve processing time.
7. Citizen data scientists to grow in the backdrop of the rising popularity of no-code, low-code platforms
70 percent of respondents think that the citizen data scientist community will grow to solve business centric issues.
8. Companies to adopt Data Fabrics to integrate enterprise applications and data sources into the cloud.
69 percent of data leaders believe that the role of the data fabrics will be critical in managing the complexity arising from exponential growth of big data.
9. Generative AI to be more powerful and accessible for SaaS platforms and product companies.
According to 68 percent industry experts, generative AI will be one of the top used AI techniques with newer applications beyond text and image formats.
10. Recession will significantly impact the hiring or firing of data professionals
68 percent of industry leaders believe that the ongoing recession is going to have repercussions for data professionals, albeit varying opinions among senior executives.
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