As we step into 2023, the technology landscape is poised for a major shift with data, analytics, and AI leading the charge. From the recently concluded Israeli American Council summit in Austin, Texas, generative AI was touted as one of the hottest trends set to take over this year. And it’s no wonder why. With its exceptional ability to revolutionize work and technology, it has become a crucial part of everyday operations for businesses looking to drive innovation.
So, what does 2023 have in store for data, analytics, and AI? Let’s dive in and find out!
Mergers and Acquisitions Get a Flip
The year 2023 is set to see a surge in M&A activity, as vendors look to provide end-to-end solutions. With a conducive macroeconomic environment and executives with cash on hand, we can expect to see more companies expanding their portfolios, filling gaps, and entering new markets through acquisitions. The dataOps, data observability, data science platforms, and MLOps platforms markets are set to see the most action.
Data Governance Takes the Forefront
In today’s hyper-data-driven world, users often have no clue as to who is using their data and for what purpose. This poses a significant challenge for building AI and ML models that rely heavily on data, often third-party data. The solution to this challenge lies in increased data sharing among companies and regulatory provisions that go beyond privacy to ensure the use of trusted data and insights.
Data Mesh and Data as a Product
For seamless delivery, planning, and data management operations, companies will require customized datasets. Delivering data as a product through data mesh is set to become the norm, with companies structuring their data management operations according to client needs. However, this strategy faces its own set of hurdles, including data quality concerns, excessive tools, under-skilled teams, and rising costs.
AI and Augmented AI Drive Efficiency and Productivity
Contrary to popular belief, AI is not set to replace employees, at least not yet. Instead, it will dramatically improve human efficiency and take productivity to new heights. ChatGPT and other new AI tools are poised to redefine the way we run businesses and do our jobs.
Automation and Employment on a Rock and Roll
As automation and self-service become the norm, there’s a real risk that employees will leave companies that fail to integrate these technologies into their work. To avoid employee burnout, companies must create a holistic working environment enhanced by intelligent automation, allowing employees to focus on only the most critical tasks.
In conclusion, 2023 promises to be a year of major growth and development for data, analytics, and AI. From M&A activity to data governance and data mesh, the technology landscape is set for a transformation like never before. Stay ahead of the curve and get ready to embrace the future of data, analytics, and AI!