What the rise of artificial intelligence means for data specialists

Brought to you by the Villanova School of Business

Developments in artificial intelligence (AI) have opened up exciting possibilities for businesses while raising questions about how people will work. With systems increasingly capable of recognizing significant patterns in data and predicting trends, organizations are discovering how to streamline operations and strategize more effectively. These advances will also have an impact on what companies look for in the next generation of leaders. To make the most of this shift, professionals must have a strong understanding of how to use up-to-date tools to gain powerful insights from big data. Earning a data analytics master’s degree positions graduates to play a proactive role in the rise of AI for business applications. With the skills to collect and analyze large amounts of quantitative information and the business knowledge to apply those findings, professionals are ready for the upcoming changes.

AI and business

AI can take many forms, from self-driving cars to advanced simulations, but these automated systems are tied together by the way they draw on complex data and experiences to provide insights and determine future behavior. Leaps forward in cognition, problem-solving, and speech and image recognition continue to open up new horizons for AI. Applying machine-learning algorithms and other AI capabilities to an organization’s stores of big data unlocks opportunities for smarter long-term strategy and reacting immediately to urgent events or emerging trends. Companies drawing on predictive analytics have shown the value of interpreting complex sets of data to anticipate what’s coming next. Using data mining and modeling, organizations have gained a sense for future developments in customer behavior and market conditions. These methods are also essential for putting AI to work in solving day-to-day business problems and strategizing for long-term growth. As MIT Sloan Management Review explained, the ability to store and interpret huge quantities of data with cloud storage and analytics tools has revealed huge possibilities for applying AI within companies. Organizations are bringing together AI and big data in a variety of ways, learning faster, managing challenges and completing tasks more efficiently. The results will include dramatic changes in how many companies function and endless opportunities for innovation.

New jobs in AI

As AI and machine-learning capabilities become more common, new job opportunities are opening up. Many are focused on particular aspects of how systems learn from past events and respond to new situations. For instance, some experts concentrate on natural language processing, an area focused on making computers better able to interpret the meaning of human speech. However, the implications of AI will also involve many positions that are not directly related to new technology. Machine-learning algorithms are already powering everything from cybersecurity to customer service. Leaders who are skilled at working with big data will be ready to take the next steps as businesses embrace even more strategic uses for advanced computer systems.

The skills to work with the next generation of systems

Incorporating powerful AI tools into the day-to-day work of companies will require individuals who have a thorough understanding of technology and business strategy. Continued progress in AI will build on the capabilities of predictive analytics and machine learning, and professionals who know methods for gathering extensive data and using it to plan ahead will have a leg up. These analytics-savvy individuals are only becoming more crucial to organizations as they use quantitative information to find business intelligence and function with greater agility. Data-driven skills are vital for roles like management analyst, logistician, or computer and information systems manager. All these positions and more will have an important part to play in the increasing reliance on the speed and efficiency of AI-assisted decision-making and implementation.

An advanced education in data methods for business

Professionals who are interested in seizing the opportunities of AI-driven business should develop a solid grounding in big-data tools and strategies. Working toward a business analytics master’s degree could prepare them to lead the way in implementing new technology to meet an organizational need. Online courses at Villanova University provide an education that emphasizes both the latest in technology and best practices for business success. Students in the Villanova School of Business discover how to build data models, perform structured analysis, and use analytical methods for data mining and optimization. With knowledge of how analytics empower smarter business strategies, graduates are well-positioned to push forward the next steps of AI applications within their organizations. Visit the program page to learn more and find out how to apply.   Recommended Readings:     Sources:   http://sloanreview.mit.edu/article/how-big-data-is-empowering-ai-and-machine-learning-at-scale/ http://theinstitute.ieee.org/career-and-education/career-guidance/how-to-land-a-job-in-artificial-intelligence http://fortune.com/2017/05/01/automation-jobs-will-put-10000-humans-to-work-study-says/ https://hbr.org/2017/06/how-to-prepare-the-next-generation-for-jobs-in-the-ai-economy http://www.businessinsider.com/artificial-intelligence-and-jobs-myths-2017-7 https://www.predictiveanalyticstoday.com/what-is-predictive-analytics/