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During a 2023 survey conducted in a variety of countries across the globe, it was found that 50 percent of respondents considered artificial intelligence (AI) to be a technology of strategic importance and would prioritize it in the coming year. 5G came in hot on the heels of AI, with 46 percent of respondents saying they would prioritize it.

Artificial intelligence

Artificial intelligence refers to the development of computer and machine skills to mimic human mind capabilities, such as problem-solving and decision-making. Particularly, AI learns from previous experiences to understand and respond to language, decisions, and problems. In recent years, more and more industries have adopted AI, from automotive to retail to healthcare, deployed to perform a variety of different tasks, including service operations and supply chain management. However, given its fast development, AI is not only affecting industries and job markets but is also impacting our everyday life.

Big data analytics

The expression “big data” indicates extremely large data sets that are difficult to process using traditional data-processing application software. In recent years, the size of the big data analytics market has increased and is forecast to amount to over 308 billion U.S. dollars in 2023. The growth of the big data analytics market has been fueled by the exponential growth in the volume of data exchanged online via a variety of sources, ranging from healthcare to social media. Tech giants like Oracle, Microsoft, and IBM form part of the market, providing big data analytics software tools for predictive analytics, forecasting, data mining, and optimization.