Three Industries Being Transformed By Data Science

If there’s one job role you’re sure to come across if you have a science background, it’s data scientist. Data scientist roles have been around for decades but in recent years – first with the mass adoption of social media and then with the boom in AI technologies – that demand for expertise has only been on the rise.

So today we thought we’d explore three of the most common industries that are still being transformed by their relationship with data. We’ll also be talking about how to become a data scientist as well as the huge demand for data science mentors.

1. Generative AI

Let’s start with the big one. Generative AI has been grabbing headlines for the last two years and that’s largely the work of data scientists.

Of course, if you know anything about data science, then none of this will be new. While generative AI models have exploded in popularity over the last few years, the basic concepts of machine learning through data sets are nothing new – only the scale, complexity, and advancement of these models.

That being said, as these models have taken off in popularity, they’ve led to some pretty major changes in the data science landscape and that’s what we’re really interested in today.

First of all, you don’t have to be an expert in markets to know a bubble when you see one. New technology – whether it’s a short-term fad or a genuinely revolutionary development – always tends to generate a ‘hype cycle’. This is a period of time during which investors are willing to make riskier, more speculative investments because they know that there’s a strong possibility that the next Microsoft, Google, or Facebook is just around the corner.

AI is no different and while this means there’s a very strong demand for data science roles, it also means this job market could prove volatile over the next few years.

The reality is that any data science role you take on in 2024 is likely to relate to AI – either on a developmental side or because you’ll be using AI tools in your workflow. That being said, if you’re concerned about long term stability then it may be worth focusing on a role that’s not strictly AI focused as right now it’s still too early to make reasonable predictions about the future of the generative AI industry.

2. Science & Research

The chances are that if you’ve studied data science you likely did so as part of a science qualification. Therefore you’ll know just how valuable data expertise is in just about any research field. After all, at its core, all research is just collecting and interpreting data.

What’s important to note is that if you want to earn real money through your knowledge of data science then you may wish to broaden your net outside of the traditional academic scope. While many people study with the intention of going into academia, the reality is that most of the high earners make their money in-industry.

From major corporations such as pharmaceutical companies and tech giants, to small research centres, there’s a huge amount of investment being poured into research every year. Every one of those companies needs people who can understand, interpret, and work with data.

Furthermore, much of today’s cutting edge research happens in the private sector. If you want the chance to work on exciting projects that will change the world then private sector data science is the place to be.

3. Marketing & Sales

Last but certainly not least, we simply have to talk about the titan that is data-driven marketing and sales. Having people on your team who really know how to work with and interpret data in order to get accurate results for your company can be utterly transformative.

For many companies, employing qualified data experts is literally the difference between failure and success and even those who succeed without a data driven strategy often transition to one in the long run.

After all, the key to any good marketing campaign is to understand your audience and communicate with them in a way that will engage their attention. If you want to communicate with someone then you need to understand them and what better way to understand them than through clear and accurate data.

Data Science Mentoring

Learning how to become a data scientist is challenging, especially if you don’t come from a science background. That being said, with more and more people looking at getting into the field, the demand for data science mentoring is higher than ever. For those with the right skillset, this can be an incredible opportunity.

With Career Navig8r, you could become someone’s data science mentor, coaching them through their qualifications and helping them find their first job. With your unique insights and experiences you could help people make their career dreams a reality, all at a rate of your choosing while working from home!