Data and Artificial Intelligence

“Big data” refers to datasets in large volumes, collected and analysed by organisations to reveal any critical trends, patterns, or associations. Such information is then typically used to extract meaningful consumer or market insights, helping companies make key business decisions.

Artificial Intelligence, or “AI”, is the capacity for machines to be able to perform work that typically require human thought – ranging from routine activities such as text editing, product packaging, and menial house cleaning to more complex tasks such as artwork creation or socialisation.

Lumify Learn currently offers a variety of online courses in data science and AI, helping arm you with the core concepts, tools, and fundamental skills to navigate either sector. Explore basic areas of machine learning, data analytics, and cloud computing through our course; data services and AI solutions through our Certified Data Science Professional course; and the skills to navigate Microsoft Azure’s databases through our Certified Data Analytics Professional course.

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Tech Talk

Why Study Data and AI?

As we venture into an increasingly digital era, the world of big data is only set to grow. Researchers estimate that we produce at least 2.5 quintillion bytes of data each day, and with our current pace of technological development – this number is bound to see exponential growth in no time.

Big data and AI work to bolster the other, with big data used to improve AI mechanics, and AI used to automate the routine tasks of data analysis. As our reliance on online platforms and information continue to grow, so will our production of digital data, boding high demand for data professionals in the years to come. Similarly, with automation not only necessary for big data, but for plenty other industries looking to innovate, AI professionals are bound to see in an increasing general need for their skills.

As such, big data professionals (also known as “data scientists”) are seeing great demand for their skills as organisations scramble to capitalise on our growing online information. The ability to collect, manage, and analyse large datasets has formed a core part of many business operations in order to improve productivity and profits – these including companies in Australia’s technology, finance, agriculture, and retail sectors. There’s never been a better time to explore the world of data analytics, and the area not only offers plenty of training options but provides great flexibility (industry-wise) in where you choose to take your career.

Deloitte statistics currently predict a 2.4% growth in employment between 2021-2022, with qualified professionals expected to earn an average of $130,176 AUD per year.

However, data science ventures have been made all the more possible through the use and development of artificial intelligence – another field bound to see rapid growth in the years to come. As mentioned, data and AI are mutually dependent sectors; as demand for one increases, so will demand in the other.

Australia currently faces a growing shortage in AI-related talent, creating plenty of high-paying job opportunities for those with a greater interest in the processes behind data science. CSIRO estimates the need for an additional 161,000 new AI specialists by 2030, funding programs that help tech graduates develop the job-ready skills they need to start in the field. Those entering the industry will thus find plenty of training opportunity as well as vacant roles – and with the limited talent pool, generous salary packages that currently sit at an average of $110,000 AUD per year.

However, the field of AI isn’t just limited to data science; the sector also offers the opportunity of working in various industries currently seeking innovative, automated technologies. This include sectors of healthcare, community services (i.e. aged care), and infrastructure. With 44% of Australian jobs expected to face automation in the coming decades, individuals are increasingly encouraged to code – or be coded.

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