Don’t Miss the Big Data Money Boom

While flipping through apps on my iPhone, I opened the Photos app and stumbled upon a video titled “2020 Year in Review.”

Apple had automatically created a six-minute film with photos and videos captured on my phone during the year.

As it turned out, this was far from just a collection of media. The video was created in a way that showcased the things that were most important to me and flowed in a storylike fashion.

Most importantly, the app demonstrated emotional intelligence. This technology is paving the way for more advanced interactions between machines and humans.

However, artificial intelligence (AI) is only as smart as the data it is trained with. And this is not just data you will find on a spreadsheet.

The solution to this problem lies in a fast-growing industry called Big Data.

Big Data Is a Necessity for Advanced AI

Ninety percent of the world’s data has been created in the last two years. This is a result of the 1.4 trillion megabytes of data produced daily.

Using unstructured data such as photos and videos to train AI is costly and not so straightforward. But companies realize this is the data needed to train advanced AI with traits such as emotional intelligence.

This problem is creating demand for Big Data technologies. Between 2020 and 2025, the global Big Data market is expected to increase by 65% to $229 billion.

Global Big Data Market 2020-2025

(Source: MarketsAndMarkets.com.)

Big Data stocks have struggled over the past few months after businesses cut spending during the COVID-19 pandemic. But for technological innovation to move forward, Big Data is a must.