Data science is one such field of research that has been giving unending hope to the mankind for the last several years. It’s growing at an unprecedented pace, and is contributing heavily to the profitability of businesses, and enrichment in the human lives. To further serve better to the global trade, and the quality of life of humans, research work in data science is going on around the world.
Forecast for worldwide data generation between 2010 & 2024 (in zettabytes)
But, it’s the college students and the youth learning data science concepts at the moment, who will decide the fate of data science technology and its real-life applicability in the times to come. And that’s why, the urgent need of funding for colleges and universities that educate youth on advanced data science concepts.
WDSI Offering $300 Mn in Subsidies & University Grants
World Data Science Initiative, or WDSI, is offering subsidies worth $300 Mn to colleges, educational institutes, and universities that run degree courses in subject disciplines such as computer science, engineering, data science, business management, and other related fields of study. It’s a great funding opportunity for data science specific institutes and universities located around the world which would like to receive accreditation in data science from a globally-recognized accrediting body.
The university grants and subsidies under the said program offers certification for the chosen institute’s students which would be a vendor-neutral credentialing program conforming to world-class standards, and will be issued by the globally-renowned and respected accreditation body, DASCA (Data Science Council of America). Data science talent, 250,000+ in number, will be developed under the said initiative, by 2022. As per Payscale, the average annual salary of a data scientist in the US is a whopping $100,000.
What is Covered Under the Subsidies/Grants?
WDSI university funding initiative intends to serve the chosen institutions through grants and subsidies by offering the below-stated support:
- Assistance and subsidies on data science accreditation.
- Support for procurement of process, knowledge, and content to help the selected institution or university develop a ‘data science center of excellence’, or a ‘data science school’.
What’s the Need to Offer Financial Assistance in the First Place?
It’s for the bright future of human kind, and the betterment of the quality of life in general. The motto of the said initiative is empowering youth with technology-prowess, that too, in disruptive tech, such as data science. Data analytics, in the current times, is not just helping the commercial activities performed by the businessmen, but is also affecting the lives of people, positively.
The areas of general life wherein data science concepts, and the related research, has served as a great boon for the global population, comprise:
- Speech Recognition
- Airline Route Planning
- Website Recommendations
- Internet Search
- Advanced Image Recognition
- Targeted Advertising
- Fraud and Risk Detection
Big Data Helps AI Become Smarter
Large data reserves does help AI to get smarter than it was before, as more the relevant data, the better will get designed, the AI system. AI and data are basically dependent on each other, and thereby, form a synergistic bond, wherein AI becomes useless without the availability of quality data, and data goes to a complete waste without it being deployed to draw trends and actionable insights, that also happens to be the input data that gets ingested by the AI systems.
Data has been an inseparable part of AI development and research, and it will always be, moving forward into the future. In fact, it’s going to contribute even further in the years to come, as more and more data is getting generated each day across the world, thereby contributing to the increment in the global data reserves.
Also Read: Top Resources to Develop Data Science Skills