Tag: data science

It is anticipated that Artificial Intelligence (AI) technology will grow Africa’s economy by $1.2 trillion by 2030. Fuelling this growth are South African tech start-ups, 357 of which have raised a combined $994 million and employed an estimated 11,000 people since 2015.

The fact that 57% of marketing executives admit they often don’t have the data to understand customers or anticipate their needs is an existential problem. No matter the industry, customer data and insights are vital to helping deliver meaningful experiences, create strong engagement and achieve customer satisfaction.

If a business wants to become truly data-driven, then its employees need to be equipped to understand and work with data as well as have meaningful conversations around that data. In short, they need to be data literate.

Business Intelligence (BI) has undergone significant transformation in recent years and certainly is not being superseded by artificial intelligence. In fact, it has become more efficient and user friendly since moving to the cloud, utilising AI and machine learning, and its embedded implementation.

A few months ago, intellectual property officials in South Africa became the first in the world to award a patent that names an artificial intelligence (AI) as the inventor of the product. The moment was a triumph for Ryan Abbott, a professor at the University of Surrey who has for years led a battle against patent offices around the world to recognise artificial intelligences as investor.

Auditable AI provides the documentation and records necessary to pass a regulatory review. With novel artificial intelligence (AI) applications multiplying like rabbits these days, it may seem like the current wave of AI innovation is all beer and skittles.

It’s universally agreed that one of the most significant changes that have been brought about by the COVID-19 is the shift in the way people will live and work in the years to come. Given that technology and digitisation will be central to this shifting dynamic, the role of data scientists in enabling and informing business strategy has never been bigger or more important.

Systematic investing is a scientific, evidence-based approach that takes the emotion out of investing and allows for better investment outcomes as decisions are based on rules. This mathematical approach offers more science and less art; has a higher success rate; is more predictable and generates higher returns for investors, with lower fees.

Turning company data into an asset is critical, it gives business leaders unprecedented insights. Data offers numerous opportunities across all industries, from healthcare to manufacturing to financial services, to name only a few. Most companies own loads of data and for it to be useful, it is imperative that they ensure that it is clean data.

Even though the challenging economic environment is resulting in companies maintaining their focus on reducing costs, 2020 also brings with it many opportunities to grow the business. This can be attributed to developments happening in Artificial Intelligence (AI), Business Intelligence (BI) and Robotic Process Automation (RPA) that are starting to push boundaries this year.